CEBI CE Brands Inc

CALGARY, AB, Jan. 17, 2024 /CNW/ - CE Brands Inc. (TSXV: CEBI) ("CE Brands" or the "Company") is pleased to announce that, in connection with its previously announced public offering on November 20, 2023 (the "Offering"), Integral Wealth Securities Limited ("Integral") has agreed to use commercially reasonable efforts to market the Offering and to sell 200,000,000 to 250,000,000 common shares in the capital of the Company at a price of $0.02 per pre-consolidation common share ($0.20 post-consolidation common share) (the "Issue Price") for aggregate proceeds of no less than $4,000,000 (the "Minimum Offering") and up to $5,000,000 (the "Maximum Offering").

For further details regarding the Offering and the ten (10) for one (1) share consolidation, please see the press releases of the Company dated November 20, 2023 and December 4, 2023.

CE Brands has applied to list the common shares on the TSX Venture Exchange (the "TSXV"). The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSXV, and the completion of a consolidation of the common shares in the capital of CE Brands on a ten-for-one basis.

CE Brands intends to use the proceeds of the Offering to launch its Vitalist smartwatches, smart rings, and related health products; fund the expansion of its line of Moto smartwatches; and further reduce indebtedness. Further details are disclosed in the Preliminary Prospectus, available at www.sedarplus.ca.

The Company develops products with leading manufacturers and iconic brand licensors by utilizing proprietary data that identifies key market opportunities.

Neither the TSX Venture Exchange nor its regulation services provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release may contain forward-looking information within the meaning of securities legislation, concerning the Company's business and affairs. In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "intends", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", or "be achieved". Such forwarding-looking statements include those with respect to the Company's intention to use the net proceeds of the Offering.

Statement of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

SOURCE CE Brands Inc.