Eat Well Investment Group Inc. Closes $5.1 Million Oversubscribed Marketed Private Placement

Eat Well Investment Group Inc. (CSE: EWG) (US:EWGFF) (FSE: 6BC0) (“Eat Well” or the “Company”) is pleased to announce that it has closed the best-efforts brokered private placement previously announced on November 25, 2021 for gross proceeds to the Company of $4,839,800.50. Pursuant to the Offering, the Company issued 8,799,637 Special Warrants (“Special Warrants”) of the Company at a price of $0.55 per Special Warrant (the “Offering Price”). Research Capital Corporation (the “Lead Agent”) acted as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Beacon Securities Limited and Echelon Wealth Partners Inc. (collectively, the “Agents”), in connection with the Offering. Concurrently with the Offering, the Company completed a non-brokered private placement of Special Warrants to U.S.-based investors for gross proceeds of $260,199.50. The aggregate gross proceeds to the Company from the Offering and the non-brokered private placement are approximately $5,100,000.

Each Special Warrant is exercisable, for no additional consideration at the option of the holder, into one unit of the Company (each, a “Unit”) with each Unit being comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share (each, a “Warrant Share”) at a price of $0.75 per Warrant Share, for a period of 36 months following the closing of the Offering.

The Company is pleased to have received a lead order from Stratagem Capital Corporation, a publicly traded company with an objective for continued growth through investments in resource exploration and development, mining, energy production and agricultural protein products.

The Company intends to use the net proceeds of the Offerings for M&A and general working capital.

The Company will use reasonable commercial efforts to prepare and file with each of the securities regulatory authorities in each of the provinces of Canada (except Quebec) in which the of Special Warrants are sold (the “Jurisdictions”) and obtain a receipt for, a preliminary short form prospectus and a final short form prospectus (the “Final Prospectus”), qualifying the distribution of the Units underlying the Special Warrants, in compliance with applicable securities law.