The Fresh Factory Announces Listing on the TSX Venture Exchange
CAROL STREAM, IL / ACCESSWIRE / October 4, 2023 / The Fresh Factory B.C. Ltd. (CSE:FRSH)(FRA:Q4Z) ("The Fresh Factory" or the "Company"), a mission-driven company for fresh, clean-label, and better-for-you food and beverage brands, is pleased to …
CAROL STREAM, IL / ACCESSWIRE / October 4, 2023 / The Fresh Factory B.C. Ltd. (CSE:FRSH)(FRA:Q4Z) ("The Fresh Factory" or the "Company"), a mission-driven company for fresh, clean-label, and better-for-you food and beverage brands, is pleased to announce that it has received final approval from the TSX Venture Exchange (the "TSXV") for the listing of its subordinate voting shares (the "Shares"). The Shares will begin trading on the TSXV effective market open on October 5, 2023.
The Company's trading symbol ("FRSH") and CUSIP for the Shares will remain unchanged, and shareholders will not be required to take any action in connection with the TSXV listing.
In connection with the listing of the Shares on the TSXV, the Shares will no longer trade on the Canadian Securities Exchange ("CSE") and will be voluntarily delisted from the CSE effective at the close of the market today.
"The Fresh Factory has built the platform for the future of the food and beverage industry, providing honest food for all in a sustainable way," said Bill Besenhofer, Chief Executive Officer and co-founder of The Fresh Factory. "We are thrilled to be part of the TSX Venture Exchange, ready to embark on the next stage of growth, and open to engaging with a wider range of investors. We're excited to be the ones serving the growing demand for clean-label, better-for-you products using fresh ingredients without artificial additives and preservatives, becoming a trusted partner in the process."
Recent Key Highlights for The Fresh Factory:
- Billed revenue increased to C$15.2M in H1 2023, marking a substantial 30.0% year-over-year increase. Additionally, Q2 2023 saw an enhanced adjusted gross margin of 29.2%.
- On September 6, 2023, the Company successfully completed a US$2.0 million sale-leaseback financing, providing essential resources for the business expansion.
- The Company's strategic focus is set on achieving adjusted EBITDA positivity by year-end, with a long-term goal of realizing net income profitability in 2024.
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