Above Food Ingredients Inc. Announces Successful Signing of $9 Million Private Placement
Regina, Saskatchewan – March 25, 2025 – Above Food Ingredients Inc. (Nasdaq: ABVE) (“the Company”), a leading provider of innovative food ingredients, is pleased to announce the successful signing of a private placement of convertible notes with a group of institutional investors. This placement is expected to provide the Company with $9 million in funding.
Funding Details
Of the total amount, $7 million is expected to be funded on or about March 27, 2025, subject to customary closing conditions. The remaining $2 million, from Origin Capital, backed by Broadline Capital and two of the United States’ most prestigious and renowned technology research universities, will be subject to the Company’s entering into definitive documents for a reverse merger transaction with Palm Global Technologies Ltd.
Impact on Above Food Ingredients
This funding will enable Above Food Ingredients to continue its mission of providing high-quality, innovative food ingredients to its customers. With the additional capital, the Company will be able to invest in research and development, expand its product offerings, and potentially enter new markets. The partnership with Broadline Capital and the two technology research universities also brings valuable expertise and resources to the table, which could lead to new opportunities and collaborations.
Impact on Consumers
For consumers, this funding could lead to the development of new and improved food products. Above Food Ingredients’ focus on innovation means that they are constantly researching and developing new ingredients and solutions to meet the changing needs and preferences of consumers. With the additional funding, the Company will be able to accelerate this process, bringing new and exciting products to market.
Impact on the Food Industry
The food industry as a whole could also benefit from Above Food Ingredients’ success. As a leading provider of innovative food ingredients, the Company is at the forefront of food trends and consumer preferences. With the additional funding, Above Food Ingredients will be able to expand its offerings and potentially enter new markets, driving growth and innovation throughout the industry.
Conclusion
Above Food Ingredients’ successful signing of a $9 million private placement is a significant milestone for the Company. With the additional funding, Above Food Ingredients will be able to continue its mission of providing high-quality, innovative food ingredients to its customers. The partnership with Broadline Capital and the two technology research universities also brings valuable expertise and resources to the table, which could lead to new opportunities and collaborations. For consumers, this funding could lead to the development of new and improved food products. And for the food industry as a whole, Above Food Ingredients’ success could drive growth and innovation throughout the sector.
- Above Food Ingredients signs $9 million private placement with institutional investors
- $7 million expected to be funded on March 27, 2025
- Remaining $2 million subject to reverse merger transaction with Palm Global Technologies Ltd.
- Funding to enable research and development, product expansion, and potential market entry
- Partnership with Broadline Capital and technology research universities brings valuable expertise and resources
- Potential for new and improved food products for consumers
- Potential for growth and innovation throughout the food industry
