Unbun Foods closes $1.9M common equity private placement

Unbun Foods closes $1.9M common equity private placement

CPE News (5/6/2020) – Keto Buns Ltd. dba Unbun Foods Inc. has raised $1.9 million by way of common equity unit private placement offerings led by Canaccord Genuity Corp.

Toronto based Unbun Foods is a bakery company and leader in grain-free, gluten-free, keto-friendly products.

Unban Foods intends to use funding to increase production capacity, and support operations, supply chain and manufacturing infrastructure.

photo credit: Unbun Foods

News Release

Unbun Foods Raises Approximately $1.9 Million in Common Share Financing Led by Canaccord Genuity

Canadian leader in better-for-you bakery products to increase capacity and infrastructure to meet the rising demand in its industry

TORONTO, May 6, 2020 /CNW/ – Keto Buns Ltd. doing business as Unbun Foods Inc. (“Unbun” or the “Company”), a Toronto-based bakery company and leader in grain free, gluten free, keto friendly products, announces that on March 13, 2020 and May 4, 2020, it raised approximately $1.9 Million in aggregate gross proceeds through a private placement (the “Offering”) of units of the Company (the “Units”). Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, and each such warrant entitles the holder thereof to acquire one common share upon payment of the exercise price. The Offering was led by Canaccord Genuity Corp. (“Canaccord”), an independent full-service financial services firm with a global footprint.

Unbun has quickly established itself as a North American leader in creating innovative and delicious better-for-you bakery products. By developing grain-free, gluten-free, keto, paleo, and plant-based bakery products, Unbun has brought consumers back to food products that they had left, and enables them to enjoy their favourite foods once again. Since its founding in 2018, the Company has experienced rapid growth and has distribution in more than 2,500 locations across Canada and the U.S.

“Unbun has experienced explosive demand for its products and incredible growth since launch,” says Unbun founder, Gus Klemos. “This investment is a sign that there is a growing appetite in the market for innovative products that meet a range of dietary requirements and preferences to help support a balanced lifestyle. Unbun will continue to develop new products and ramp up production to bring our better-for-you options to even more consumers.”

The proceeds of the Offering will allow Unbun to increase production capacity, and support operations, supply chain and manufacturing infrastructure that will ensure the Company meets the increasing demand for its products from restaurant partners, grocery retailers and consumers.

About Unbun Foods Inc.

Unbun is a Toronto based, certified keto, paleo, grain-free & gluten-free food company. Unbun specializes in creating innovative, better-for-you bakery products. Founded in early 2018, the Company has grown to over 2,500 locations, including Loblaws, Metro, Whole Foods, Pizza Pizza, MR.SUB, The Burger’s Priest, BurgerIM, Firkin Pubs, Erewhon Market and more. The mission is simple: to give people that follow low-carb, paleo, gluten-free, grain-free and plant-based diets the option to still enjoy their favourite restaurants, chains, fast food and meals at home without compromising taste or quality of dining experience. For more information, visit www.unbunfoods.com and Instagram @unbunfoods.

SOURCE Unbun Foods

For further information:
Riya Dhaliwal, 416-366-7755 x 251, riya.dhaliwal@strategicobjectives.com

Source: Private Capital Journal

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