Eshbal Announces Closing of Private Placement

Executive Summary

• Eshbal Functional Food Inc. completed the first closing of its non‑brokered private placement, issuing 4,245,117 units for gross proceeds of $721,670.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.30 per share, exercisable until Feb 10 2028.
• Proceeds are earmarked for acquisition opportunities within the company’s gluten‑free roll‑up strategy, ongoing product development, project funding, and working capital.

Key Details

• Units Issued: 4,245,117 units (each = 1 common share + 1 full warrant).
• Gross Proceeds: $721,670 (≈ $0.17 per unit).
• Warrant Terms: Exercise price $0.30 per share; exercisable until February 10, 2028.
• Resale Restrictions: Securities subject to resale restrictions until June 11, 2026.
• Use of Proceeds:
• Advance identified acquisition opportunities in the gluten‑free industry (roll‑up strategy).
• Fund ongoing product development projects.
• Provide general project and working capital support.
• Placement Expenses: $10,721 paid to Haywood Securities Inc., which also received 63,070 warrants as compensation.
• Future Closings: Company may seek additional closings of the private placement offering.

Notable Quotes

“Eshbal is in discussions with several companies in support of its roll‑up strategy in the artisanal gluten‑free industry. The proceeds of this private placement will help accelerate this strategy to drive the scale and manufacturing efficiencies that are needed by mainstream grocers,” – Tomer Bar Meir, CEO.