DENVER and VANCOUVER, British Columbia, April 12, 2023 (GLOBE NEWSWIRE) — Koios Beverage Corp. (CSE: FIT) (OTC: FITSF) (the “Company” or “Koios”) announces that it intends to re-price 13,900,000 outstanding common share purchase warrants (“Warrants”) issued pursuant to a Share Purchase Agreement on April 22, 2022 and pursuant to a Private Placement on October 3, 2022. The Company also intends to extend an aggregate of 11,900,000 of those Warrants that were closed on April 22, 2022, with Warrant expiration dates of April 22, 2023 (the “Warrant Amendments”).
The following Warrants are proposed to be extended and repriced:
|Issue Date||Issuance||Number of Warrants Extended||New Expiry Date||Number of Warrants Re-priced||Original Exercise Price||Amended Exercise Price|
|April 22, 2022||Issued as part of Share Purchase Agreement at $0.10||11,900,000||April 22, 2024||11,900,000||$0.175||$0.05|
|October 3, 2022||Issued as part of Private Placement at $0.05||2,000,000||No change (October 3, 2027)||2,000,000||$0.075||$0.05|
Warrants will be subject to an accelerated expiry provision such that if, for any 10 consecutive trading days (the “Premium Trading Days”) during the unexpired term of the Warrants, the closing price of the common shares (“Common Shares”) exceeds the acceleration price of $0.0625, the exercise date will be accelerated to thirty (30) calendar days (the “Acceleration Clause”). The activation of the Acceleration Clause will be announced by press release and the 30-day period will commence 7 days after the last Premium Trading Day. All other terms of the warrants remain unchanged.
All other terms and conditions of the Warrants remain unchanged.
On behalf of the Board of Directors of the Company,
KOIOS BEVERAGE CORP.
Chris Miller, CEO, and Director
For further information, please contact:
THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
About Koios Beverage Corp.
The Company’s wholly owned subsidiary Koios, LLC (“Koios”) is an emerging functional beverage company which has an available distribution network of more than 4,400 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including including UNFI, McLane, Muscle Foods USA, KeHE, and Wishing-U-Well. Together these distributors represent thousands of brick-and-mortar locations across the United States from sports nutrition stores to large natural grocery chains including Whole Foods and Sunflower markets. Through its arrangement with Wishing-U-Well, Koios also enjoys a large presence online, including being an Amazon choice product.
Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants. Koios products have been shown to enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity. Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels, and neural connections in the brain.
Koios produces one of the only drinks in the world infused with MCT oil. MCT oil is derived from coconuts and has been shown to help the body burn fat more effectively, create lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production, and improve immunity.
The Company launched “Fit Soda”™ in four classic flavours: Root Beer Vanilla Float, Black Cherry Cola, Orange Cream and Sparkling Citrus in April 2019. Fit Soda™ has zero sugar, natural electrolytes and is infused with branched-chain amino acids. It is available for purchase at corporate retailers including, Walmart, Ingles, GNC, Harris Teeter, Raley’s, KEHE, United Supermarkets and Sprouts Markets.
For more information, please visit our website: https://www.koiosbeveragecorp.com.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes the expiry of hold periods applicable to securities issued in connection with the Debt Settlement, issuance of Stock Options and RSUs and the Issuance of Shares to the Insiders and pursuant to the Consulting Agreements. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the functional beverage markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by Koios with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with Koios is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.