(TheNewswire)
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August 12, 2024 – TheNewswire - Vancouver, British Columbia – Right Season Investments Corp. (TSXV: LITT), (“Right Season” or the “Company”) is pleased to announce that it has made a strategic capital investment in Grounded People Apparel Inc. (“Grounded” or the “Brand”), an eco-conscious fashion label, acquiring 166,667 units of Grounded (each, a “Grounded Unit”) priced at $0.60 per Grounded Unit through a private placement, totalling an investment of $100,000 (the “Grounded Placement”).
Each Grounded Unit comprises one common share of Grounded and one common share purchase warrant of Grounded (each, a “Grounded Warrant”). Each Grounded Warrant entitles the Company to purchase an additional common share (each, a “Grounded Warrant Share”) of Grounded at a price of $0.75 per Grounded Warrant Share for a period of five (5) years from their date of issue.
Prior to completion of the Grounded Placement, the Company held 5,124,008 common shares in the capital of Grounded (each, a “Share”) and 5,124,008 Share purchase warrants representing approximately 20.28% of the issued and outstanding Shares (or 10,248,016 Shares representing approximately 33.72% of the issued and outstanding Shares on a partially diluted basis assuming exercise of all warrants held by the Company).
Following completion of the Grounded Placement, the Company holds 5,290,675 Shares and 5,290,675 Share purchase warrants representing approximately 20.12% of the issued and outstanding Shares (or 10,581,350 Shares representing approximately 33.50% of the issued and outstanding Shares on a partially diluted basis assuming exercise of all warrants held by the Company).
The Company has acquired the Grounded Units for investment purposes. The Company intends to evaluate these holdings and increase or decrease its investment in Grounded as circumstances warrant.
Grounded People Apparel is an innovative apparel company based in Vancouver, B.C., Canada, that is focused on delivering high-quality products to its customers that are 100% PETA-approved (People for the Ethical Treatment of Animals) vegan and are made from sustainable, ethically-sourced and produced materials. Grounded is currently selling its shoes direct-to-consumer through its website and through select local retailers. Grounded is also passionately engaged in the local community through supporting various charities that align with the ethos of the Brand.
Grounded is listed on the CSE under the symbol “SHOE” and its main office is located at Suite 800 – 1199 West Hastings Street, Vancouver, BC V6E 3T5.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.com under Grounded’s profile.
About Right Season Investments Corp.
Right Season Investments Corp. is a Canadian Venture Capital, Investment and Advisory Firm that strives to actively drive innovation and accelerate growth for its shareholders. Right Season invests capital into private and public companies that offer excellent growth opportunities.
Contact:
Tyler Lewis, Director and CEO
Email: investor@rightseasoninvestmentscorp.com
Cautionary and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws, including statements regarding the filing of an early warning report on SEDAR+ in connection with the Grounded Placement. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, that the Company's plans and prospects will vary from those stated in this news release and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking information. The statements in this news release are made as of the date of this release.
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