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Apr 14, 2016

GreenSpace Brands Completes Concurrent Acquisition of Central Roast Inc. and Prospectus Offering

Jeffrey K. Merk, Andrew Magnus, Melanie Cole, Daniel Everall, Aaron T. Collins and Barbara Worndl

GreenSpace Brands Inc. (TSXV: JTR) (“GreenSpace”), a developer, marketer and seller of premium natural food products, completed the acquisition of Central Roast Inc., a manufacturer and distributer of all-natural healthy snacks, for $10.75 million, payable by way of cash, debt and equity. The acquisition has been completed in two stages, with the first 70% being acquired on closing and the second 30% being acquired 13 months following closing. With the completion of this acquisition, GreenSpace more than doubles its business. 

In conjunction with the acquisition, GreenSpace completed a public equity offering of units for gross proceeds of over $8.9 million. Each unit consists of one common share and a half warrant, with each full warrant entitling the holder to purchase one common share in the capital of GreenSpace. The warrants were listed concurrently with closing and are now trading on the TSXV under the symbol JTR.WT. 
 
Aird & Berlis LLP represented GreenSpace on the acquisition and offering with a team that was led by Rebecca Kacaba and included Jeffrey Merk, Andrew Magnus, Melanie Cole and Daniel Everall (Corporate Commercial & Corporate Finance), Aaron Collins (Financial Services) and Barbara Worndl (Tax).

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