NEW YORK, August 18, 2021 (GLOBE NEWSWIRE) – Better Choice Company Inc. (NYSE: BTTR) (“The Company” or “Best Choice”), a veterinary and health company, announced a renewal of its term of office today. – Provide a line of credit between $ 6.0 million and $ 7.5 million through its current lender, Wintrust, a leading commercial bank headquartered in Chicago, Illinois. The terms of the agreement remain unchanged, with an interest rate of Libor plus 250 basis points and a maturity date of January 6, 2024.
Scott Lerner, CEO of Better Choice, commented, “We appreciate Wintrust’s continued support and confidence in our future results, which once again confirms the company’s true long-term value. Having working capital for a term loan at a low cost of capital will give us good opportunities to reach the next phase of growth after the expected release of our products in 2022 and beyond. ”
“We are fully focused on meeting the targets outlined in our five-year strategic plan as sustained growth continues in the animal health and welfare industry. Our team is focused on delivering high quality products that are in demand to accelerate sales growth, which ultimately leads to increased cash flow and profitability, ”concluded Mr. Lerner.
About Better Choice Company Inc.
Better Choice Company Inc. is a fast-growing animal health and welfare company committed to spearheading the industry’s transition to producing pet products and services that help dogs and cats live healthier, happier, and longer lives. We are taking an alternative nutritional approach to animal health over traditional dog and cat food offerings and positioning our brand portfolio to capitalize on key trends in the growing humanization of pets and consumer health and wellbeing. We have a proven track record of successfully selling trusted animal health and welfare products, and we use our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell most of our dog, cat and treat foods under the Halo and TruDog brands, which are focused, respectively, on providing organic food and canned foods made from real whole meat, as well as minimally processed raw food and dog treats. … For more information please visit https://www.betterchoicecompany.com…
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “may”, “evaluate”, “continue”, “assume”, “intend”, “should,” “Plan”, “may”, “goal”, “potential”, “likely”, “will “,” Expect “and similar expressions relating to us are intended to indicate forward-looking statements. The Company has based these forward-looking statements to a large extent on our current expectations and forecasts of future events and financial trends that, in our opinion, may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results expected in these forward-looking statements may not be achieved. For more information on the company’s risk factors, see our SEC filing. Any forward-looking statements made by us here are valid only as of the date they were made. Factors or events that could cause our actual results to differ may arise from time to time and we cannot predict all of them. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact person of the company:
Better Choice, Inc.
Scott Lerner, CEO
Contact person for investors:
KCSA Strategic Communications
Walter Pinto, Managing Director