Above Food closes upsized and oversubscribed private placement of units for gross proceeds of $40.2 million

20 January 2021

On January 20, 2021, Above Food Corp. ("Above Food") announced the closing of its brokered and non-brokered private placement of units for aggregate gross proceeds of $40,233,312. Gravitas Securities Inc. acted as lead agent and sole bookrunner together with a syndicate of agents including Haywood Securities Inc., Canaccord Genuity Corp. and Cormark Securities Inc. in connection with the brokered private placement.

Above Food's wholly owned subsidiaries, Above Food Inc. and Purely Canada Food Corp, are vertically integrated, high growth, seed-to-fork plant based platforms that have well-established financial profiles stemming primarily from its business to-business (B2B) relationships, selling to over 300 customers across 35 countries. The subsidiaries were established to develop and distribute premium whole plant alternatives to meat and dairy by creating delicious, densely nutritious consumer products and branded ingredients.

Gowling WLG advised Above Food in this financing with a team that included Peter Simeon, Sharagim Habibi and Taylor Hanson (corporate), assisted by student-at-law Blair Wentworth.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.