Happy Supplements Signs Letter of Intent to Acquire Plant-Based Dairy Alternative Company - Bettermoo(D) - Seite 2

"Acquiring bettermoo(d) will further expand and diversify our presence in the beverage industry and allow us to capitalize on the growth of an environmentally and health-conscious consumer base", stated Steve Pear, CEO of Happy.

"The dairy alternatives industry is projected to grow significantly over the next decade and we feel the timing couldn't be better for our Company to acquire Vancouver based start-up bettermoo(d)."

Transaction Terms

Under the terms of the LOI, in consideration for all outstanding share capital of bettermoo(d), the Company is expected to issue 9,000,000 common shares, 10,000,000 common share purchase warrants (each, a "Consideration Warrant") and 700,000 incentive stock options (each, a "Consideration Option") to the existing security holders of bettermoo(d). Each Consideration Warrant will be exercisable to acquire an additional common share of the Company at a price of $1.40 for a period of twenty-four months, and each Consideration Option will be exercisable to acquire an additional common share at a price of $0.30 for a period of sixty months.

Completion of the acquisition of bettermoo(d) remains subject to a number of conditions, including: the satisfactory completion of due diligence; the receipt of any required regulatory approvals; and the negotiation of definitive documentation. The acquisition cannot be completed until these conditions have been satisfied.

The Company is at arm's length from bettermoo(d) and each of its shareholders. The acquisition of bettermoo(d) is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. The Company may pay finders' fees or commissions to eligible arm's-length third-parties in connection with the acquisition of bettermoo(d).

About Happy Supplements

Happy Supplements Inc. is an innovative beverage company focused on delivering high quality beverages both online and through local market retailers. Happy Supplements utilizes social media to deliver educational experiences with their customer base while demonstrating their innovative beverage technology.

ON BEHALF OF THE BOARD of DIRECTORS

Steve Pear

Chief Executive Officer and Director

For further information please contact:

[e-mail]
Happy Supplements Inc.
Company URL: www.happytea.com