Simply Better Brands (TSXV:SBBC) to acquire interest in Crisp Management Group

• Simply Better Brands (SBBC) is announcing a non-binding term sheet to acquire 60 per cent of the Crisp Management Group
• Simply Better made the acquisition to facilitate the sale and distribution of its CBD and hemp products through Crisp’s Breakaway Music Festival in North America
• The company will pay US$500,000 in common shares plus $200,000 in working capital for its stake
• Simply Better Brands runs an international omni-channel platform in the plant-based and holistic wellness consumer product categories
• Simply Better Brands (SBBC) is unchanged trading at $5.70 per share

Simply Better Brands (SBBC) is announcing a non-binding term sheet to acquire 60 per cent of the Crisp Management Group.

The company made the acquisition to facilitate the sale and distribution of its CBD and hemp products through Crisp’s Breakaway Music Festival in North America.

Simply Better will pay US$500,000 in common shares for its stake. It will also provide Crisp Management with $200,000 in working capital as well as sales and e-commerce management at Breakaway Music Festival events.

The Crisp Management Group CBD brand and Simply Better’s brands will be the exclusive CBD brands throughout the Breakaway Music Festival.

Kathy Casey, CEO of Simply Better Brands, commented,

“On our plant-based wellness mission, we relentlessly focus on efficacy, innovation and brand availability. Our partnership with the Crisp Management Group is about access to our targeted Gen Z and Millennial consumers during live experiential events. We remain convinced CBD and music are key enablers to overall wellbeing and are thrilled to fuel the collaboration.”

Crisp’s Adam Lynn, co-founder of the Breakaway Music Festival, added,

“We are very excited to bring the knowledge of Simply Better Brands to our festivals across the United States and soon internationally. Crisp and SBBC will quickly gain major market share and will build a foundation that we envision will become a prominent brand in the space. We also have one of the largest influencer networks in the U.S. and will use influencer marketing and merchandise to expand the brand from a digital standpoint.”

Simply Better Brands runs an international omnichannel platform in the plant-based and holistic wellness consumer product categories.

Simply Better Brands (SBBC) is unchanged trading at $5.70 per share as of 10:15 am ET.