FREDERICTON, New Brunswick, March 20, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV:TRU.H) (“Trius”) announces that it has completed a loan in the principal amount of $1,250,000 (the “Loan”) to Revive Organics Inc. (“Revive Superfoods”), a private company existing under the laws of the Province of Ontario. The Loan has a maturity date of March 20, 2021 and bears interest at a rate of 10% per annum, payable monthly. The Loan is secured by a general security agreement in favour of Trius over all of the assets of Revive Superfoods. In certain circumstances set out in the Loan, Revive Superfoods may make additional one-time payments to Trius.
Revive Superfoods operates in the dynamic ready-to-eat meals industry, and has generated rapidly growing revenues while expanding its offerings across North America. Revive Superfoods offers a subscription service that delivers ready-to-blend smoothies and other healthy prepared meals right to consumers’ doors, with operations in Canada and the United States. Revive Superfoods will use the net proceeds of the Loan to fund marketing and distribution initiatives, and for general working capital purposes. For more information on Revive Superfoods, see their website at https://revivesuperfoods.com/.
Trius President and CEO, Joel Freudman, commented, “We are pleased to announce the Loan to Revive Superfoods in the midst of difficult market and economic conditions. This will provide Trius with monthly cashflow to offset cash burn while we search for our next transaction. We think Revive Superfood’s business will be resilient as consumers increasingly seek out convenience and meals at home.”
About Trius Investments Inc.
Trius is an investment issuer searching for new business opportunities and/or investments, with a focus on established, revenue-generating businesses. Trius’ common shares trade on the NEX Board of the TSX Venture Exchange under the symbol “TRU.H”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works exclusively with high-potential public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & Chief Executive Officer
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All information contained in this press release with respect to Trius and Revive Superfoods was supplied by the respective parties for inclusion herein, and each party has relied entirely on the other party for any information concerning the other party. Trius does not assume any responsibility for the accuracy or completeness of the information provided by Revive Superfoods.
This press release includes statements containing forward-looking information that reflect the current views and/or expectations of management of Trius and Revive Superfoods, as applicable, including but not limited to the use of proceeds from the Loan by Revive Superfoods and anticipated industry trends. Statements containing forward-looking information are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict, and which are outside of Trius’ control. In particular, there is no guarantee that Trius will be able to source and execute additional transactions. Actual results may differ materially from those projected in the forward-looking information herein. Accordingly, readers should not place undue reliance on forward-looking statements and information herein, which are qualified in their entirety by this cautionary statement. The forward-looking information contained in this press release is provided as of the date of this press release, and neither Trius nor Revive Superfoods undertakes any obligation to release publicly any revisions for updating any forward-looking statements made herein, except as required by applicable securities laws.