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🇨🇦CSE: GOAT 🇩🇪FRA: 26B
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Billy Goat Brands Wholly Owned Subsidiary Signs First Regional Distribution Agreement
Billy Goat Brands Wholly Owned Subsidiary Receives First Pre-Order for KOLD Coffee Beverages
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Billy Goat Brands is a venture capital platform focused on investing in high-potential companies operating in the ocean economy. It intends to accomplish these goals through the identification of and investment in the securities of private businesses that are involved in the food and beverage industry, with a focus on: (i) plant-based protein, (ii) functional foods, (iii) food technology, and (iv) fermented foods. The Company plans to generate returns on its investments through various outcomes, including, but not limited to, go-public transactions, mergers or acquisitions, and the other liquidity events of its investee companies or projects. The paramount goal of Billy Goat Brands will be to generate maximum returns from its investments in a manner consistent with its environmental, social and governance values.
*****BREAKING NEWS RELEASED MINUTES AGO
Billy Goat Brands Wholly Owned Subsidiary Receives First Pre-Order for KOLD Coffee Beverages
The Purchase Order of “KOLD” Premium Functional Beverages Validates Both the Brand and New Product Line in the USD 655 Million Cold-Brew Coffee Market1
VANCOUVER, British Columbia, May 03, 2022 (GLOBE NEWSWIRE) — Billy Goat Brands Ltd. (“GOAT” or the “Company”) (CSE: GOAT) (OTCQB: BGTTF) (FRA: 26B), a venture capital platform focused on investing in high-potential companies operating in the ocean economy, is pleased to announce that its wholly owned business, FunGuys Beverages (“FunGuys” or the “Subsidiary”), has received its first purchase order on a pre-order basis in the amount of CAD 50,000 (the “PO”) from Drip Coffee Social Ltd. (“Drip”) for its KOLD line of organic, mushroom-infused, cold-brew coffee beverages (“KOLD Beverages”). The Subsidiary is a rapidly growing manufacturer and distributor of premium functional beverages. The PO validates FunGuys’ brand and product positioning for KOLD Beverages within Drip’s locations as well as via Drip’s relationships with hundreds of retail locations across British Columbia. Drip is widely regarded as a progressive coffee authority in British Columbia as evidenced by their loyal customer following, unique retail experience and strong presence on Instagram. Headquartered in British Columbia, FunGuys is working to disrupt the USD 655 million cold-brew coffee market1 by providing a healthy and sustainable alternative to traditional coffee beverages.
The PO marks an important milestone for FunGuys and its growth strategy, as it represents the first step in introducing KOLD Beverages to retail outlets in Canada. FunGuys’ launch of KOLD Beverages will be driven by its e-commerce store and retail presence, with fulfillment arranged by its third-party logistics providers. FunGuys is a 100% wholly owned subsidiary of GOAT, which is committed to supporting FunGuys’ growth to become the leading manufacturer and distributor of organic mushroom-infused cold-brew coffee beverages in the world. Each serving of KOLD Beverages is infused with 160mg of Chaga and Lion’s Mane mushroom extract, among other natural ingredients that are combined to create a unique, healthy and sustainable ritual for coffee lovers.
Management Commentary
“I am enthusiastic to begin selling KOLD Beverages and view it as complementary to our retail offerings at Drip locations as well as our partners’ many outlets throughout British Columbia. The British Columbia market is growing very quickly for this leading-edge coffee product, especially on Vancouver Island and the lower mainland,” said Scott Marr, Owner of Drip.
“We are delighted to receive our first PO for what we anticipate is going to be an incredibly well received product within the functional beverage space. FunGuys will continue to accelerate its expansion plans in 2022 including the advancement of its e-commerce store. FunGuys looks to drive expansion through various channels which will further position itself as a leading distributor of mushroom-infused cold-brew coffee beverages in the market,” said Tony Harris, Chairman and Chief Executive Officer of GOAT. “The GOAT team continues to bring innovative, food-based and ESG-focused opportunities to its shareholders, by investing in sustainable, early-stage companies,” added Mr. Harris.
For more information about FunGuys Beverages and its KOLD line of organic, mushroom-infused, cold-brew coffee products, please navigate to the following URL: https://koldcompany.com/.
Billy Goat Brands Wholly Owned Subsidiary Signs First Regional Distribution Agreement
- FunGuys Beverages enters arrangement for Drip Coffee Social to distribute its branded Line of “KOLD” premium functional cold brew coffee beverages
- Drip Coffee Social has hundreds of relationships with retail locations across British Columbia
- FunGuys is working to disrupt the US$655 million cold-brew coffee market1 by providing a healthy and sustainable alternative to traditional coffee beverages
VANCOUVER, British Columbia, April 12, 2022 (GLOBE NEWSWIRE) — Billy Goat Brands Ltd. (“GOAT” or the “Company”) (CSE: GOAT) (OTCQB: BGTTF) (FRA: 26B), a venture capital platform focused on identifying, sponsoring and incubating environmental, social and governance (“ESG”) focused companies in the ocean economy, is pleased to announce that its wholly owned portfolio business FunGuys Beverages (“FunGuys” or the “Subsidiary”) has entered into a distribution agreement (the “Agreement”) with Drip Coffee Social Ltd. (“Drip”) to distribute the KOLD line of organic mushroom-infused, cold-brew, coffee beverages (“KOLD Beverages”). FunGuys is a rapidly growing manufacturer and distributor of premium functional beverages. The Agreement directly bolsters FunGuys’ retail footprint for KOLD Beverages within Drip’s locations as well as via Drip’s relationships with hundreds of retail locations across British Columbia. Headquartered in British Columbia, FunGuys is working to disrupt the USD 655 million cold-brew coffee market1 by providing a healthy and sustainable alternative to traditional coffee beverages.
The Agreement provides FunGuys with an opportunity to expand its presence within its home market and strengthen its brand equity through Drip’s established retail footprint. Pursuant to the terms of the Agreement, Drip shall distribute the KOLD Beverages at both of its locations in Nanaimo, British Columbia. Nanaimo is the fifth largest city in British Columbia, located along the Vancouver Island coastline, and was one of the top five fastest growing in Canada over the past five years.2 More broadly, with millennials providing the strongest source of demand for cold-brew coffee, the province’s population of those aged 25-44 is significant at approximately 1,205,000 or 26% of the total population.3
The Agreement marks an important milestone for FunGuys and its growth strategy, as it represents the first step in introducing KOLD Beverages to retail outlets in Canada. FunGuys’ launch of KOLD Beverages will be featured on its e-commerce store, with fulfillment arranged to be provided by third-party logistics providers. FunGuys is 100% owned by GOAT, which is committed to supporting FunGuys’ growth to become the leading manufacturer and distributor of organic mushroom-infused cold-brew coffee beverages in the world. Each serving of KOLD Beverages is infused with 160mg of Chaga and Lion’s Mane mushroom extract, among other natural ingredients that are meant to help create an alternative, sustainable ritual for coffee lovers.
Management Commentary
“I am excited to enter into this distribution deal for KOLD Beverages and view it as complementary to both FunGuys and Drip. The British Columbia market is growing very quickly for this type of product, especially on Vancouver Island and the lower mainland. Therefore, I expect the Agreement to be mutually beneficial for all involved, as consumers are always looking for great new products that are healthy and taste delicious, and KOLD Beverages deliver on both fronts”, said Scott Marr, Owner of Drip.
“We are thrilled to support the growth that we’ve seen at FunGuys as its team continues to move forward with cultivating new sales channels. Through the Agreement, FunGuys will be able to accelerate its expansion plan for 2022 including the advancement of its e-commerce store. This is expected to enable FunGuys to further position itself as a leading distributor of mushroom-infused cold-brew coffee beverages in the market,” said Tony Harris, Chairman and Chief Executive Officer of GOAT. “The GOAT team continues to bring innovative, food-based and ESG-focused opportunities to its shareholders, by investing in sustainable, early-stage companies,” added Mr. Harris.
RSU Grant
The Company also announces that its Board of Directors has approved a grant of 118,500 restricted share units (the “RSUs“) in aggregate to a certain arm’s length consultant, pursuant to the Company’s RSU plan. Upon vesting four months and one day from the date of issuance, each RSU entitles the holder to receive one common share of the Company in exchange.
THE BRANDS
KOLD
FunGuys Beverages (“FunGuys”) started in British Columbia with three individuals who care about you crushing the day as much as improving your overall health. Basically, the FunGuys team wanted to provide a sustainable and community-driven coffee ritual for Millennial and Gen Z consumers. FunGuys is the leading distributor of organic Chaga and Lions Mane mushroom-infused cold brew coffee under the KOLD brand.
The KOLD brand is an enhanced cold brew that is crafted using 100% high altitude, Arabica beans from Columbia. The coffee is then infused with organic Chaga and Lion’s Mane mushrooms. Slow roasted chicory is added to promote digestive health, which also results in a smooth flavour profile with notes of chocolate and sweet fruits.
Each serving of KOLD coffee contains 160mg of these fungi, turning a daily beverage addiction into a ritual stimulant and functional supplement. Equally important is how the earthy notes of chicory combine with our proprietary blend of mushrooms to enhance the flavour and overall enjoyment of your everyday coffee routine.
With coffee and caffeine being deeply ingrained into the average adult’s daily routine, FunGuys thought it was time to let coffee be not only fun but functional for your entire day! It is believed that Chaga mushrooms, one of the oldest natural medicines, can promote gut health and decrease inflammation. The immunity-enhancing properties of Lion’s Mane, which is also known to support cognitive health, are also a no-brainer addition to our flagship beverage.
FunGuys’ unique product offering of mushroom-infused cold brew coffee aims to capture a portion of the ~US$23 billion functional mushroom market. Not only is FunGuys providing a healthy alternative in the coffee market, they’re also creating the most sustainable coffee ritual for Millennial and Gen Z customers.
Billy Goat Brands owns a 100% interest in FunGuys Beverages and will be working with the FunGuys team to connect them with capital, marketing and strategic partnerships to elevate not only the KOLD brand of cold brew coffee, but also to position FunGuys Beverages as a leading mushroom-infused cold brew coffee producer and distributor.
The idea for the Vegetarian Butcher was inspired by one of the co-founders’ wives who, when diagnosed with Stage 3 breast cancer in 2016, had difficulty finding a plant based grocer to support the goal of changing her diet to be vegetable-focused. She and her husband began exploring the plant-based options available in the market and the lack of options resulted in a vegan meat butcher shop concept to offer plant-based meat and cheese substitutes, fresh meals and other deli items. Not only does The Vegetarian Butcher provide plant-based meat alternatives for vegetarians and vegans, it also provides gluten-free and GMO-free products for those with food allergies and sensitivities.
The Vegetarian Butcher operates both on a bricks-and-mortar basis and through an e-commerce site that helps customers find vegan meat products online. The company’s two current locations are in Kelowna, BC and in the Gastown neighborhood of downtown Vancouver, BC.
The Vegetarian Butcher aims to provide plant-based meat substitutes not only for vegetarians and vegans, but also for the growing wave of consumers who are choosing to make plant-based meals part of their weekly diets. The business employs staff who are able to help educate customers with questions about plant-based eating.
The Vegetarian Butcher’s mission is to provide customers with a one-stop shop for quality vegetarian and plant-based food and proteins featuring knowledgeable and passionate staff.
The Vegetarian Butcher Products
The business’ core product offering falls into two categories: a) house-made, vegan meat deli items and b) white-label vegan meat substitutes. In store, the Vegetarian Butcher offers meal kits with family-sized portions and a sandwich counter, while also offering fresh and frozen packaged foods, dry and canned goods, as well as fresh food items and meals prepared on-site daily.
Catering is another service offered by The Vegetarian Butcher, which includes meals for parties to provide an alternative to meat products.
Sophie’s Kitchen was founded by Eugene Wang, who is a vegetarian and expert in the food technology space. When Eugene’s daughter, Sophie, developed a seafood allergy, he saw an opportunity to develop a plant based seafood alternative, which became the company known as Sophie’s Kitchen today. Sophie’s Kitchen products are non-GMO, gluten-free, soy free and kosher. The company caters to people with food allergies and sensitivities as well as to those with restricted diets wanting something tasty.
Dr. Miles Woodruff, CEO, joined Sophie’s Kitchen as a fellow vegan and conservationist. Dr. Woodruff worked with Jane Goodall in the Congo where he was able to help with the protection of primates. As a conservationist, he has an entrepreneurial spirit and passion for animal welfare and has significant growth plans for the Sophie’s Kitchen brand, including but not limited to the annual doubling of sales volumes. Dr. Woodruff is committed to seeing plant based seafood alternatives come to the forefront of the mainstream food market. To achieve this goal, his belief is to sell vegan seafood products that simply taste amazing.
What is Plant Based Seafood?
According to a report by The Good Food Institute, global demand for seafood is projected to be 30% higher than 2010 levels by 2030. As global populations continue to grow, the increased demand for seafood is expected to follow, which will continue to deplete the food stocks in the world’s oceans. This perceived inevitability provides an opportunity for plant based seafood alternatives, which can be produced more quickly and in a more responsive and responsible manner than conventional seafood. There are several efficiencies associated with supplying plant based seafood alternatives, including but not limited to locating production facilities closer to demand centers and only producing what consumers want, thus reducing the large amount of waste that is typically associated with conventional seafood production.
About Evanesce
Evanesce was founded by Douglas Horne, who is the Chief Executive Officer of the business. Mr. Horne sought out an opportunity in response to the rise in single-use plastic products, and the mounting pressure that they have applied to the environment. The overconsumption of single-use packaging has been on the rise and they have become a contributor to climate change. Plastics, and microplastics specifically, have been polluting our oceans and affecting ecosystems that regulates our planet’s temperatures. As a result, Evanesce was founded to develop a sustainable alternative to traditional plastic packaging. Using a patented technology that considers strength, insulation and nesting capabilities, Evanesce’s products are being designed to be functional yet environmentally friendly by being 100% compostable and organic.
Evanesce collaborated with Haas/Buhler – an expert in food processing equipment – to develop and commercialize its patented technology. Today, its Molded Starch Technology produces 100% compostable packaging material. All of Evanesce’s packaging solutions are free from PFAS and BPA and they decompose into soil within 90 days. All Evanesce products have a shelf life of two years and are leakproof as well as heat resistant, thereby making them both microwave and oven safe. Currently, Evanesce has been issued three patents, has one pending patent, and has made 17 other patent claims. Products such as meal trays, meat trays, containers, and cups are expected to enter the market in early 2022.
The global packaging industry is expected to reach $980 billion in market size by 2022, while the green packaging solutions industry is expected to reach $245 billion within the same time frame. As climate change continues to be an issue that influences how people consume products, the need for alternative packaging solutions is growing. Evanesce has expanded its operations to a second manufacturing facility in Nevada to meet the increased demand of sustainable packaging.
Evanesce’s green packaging solutions are already in use by various leading foodservice companies, grocers, restaurants, and convenience stores. Products can be found in Whole Foods, Save-on, Chipotle, Safeway, Costco, and Loblaws, with more grocery and restaurant chains being added on a regular basis.
As Evanesce continues to grow, it is on track to achieve its goal of become a leader in the food packaging space. With its state-of-the-art technology, Evanesce has recently been recognized by CIO Coverage as one of the Top 10 Innovative Food Packaging Companies to Watch in 2021. Another one of Evanesce’s goals is to make single-use plastics a thing of the past. With consumer demand increasing for more environmentally friendly packaging, there is a push for industries to adopt more sustainable, greener, and cost-effective packaging solutions.