Eat Well Group (CSE: EWG) (OTC: EWGFF), a publicly traded investment company, has made the final payment to complete all obligations for ownership of Sapientia Technology LLC. EWGFF’s acquisition of the company closed on July 31, 2021, under the agreement to issue 3,741,969 EWGFF common shares along and make cash payments totaling $6.52 million to the former shareholders of Sapientia. The first $1 million of that obligation was paid on July 31, 2021, with the remaining amount being paid in installments, with the last installment made on July 8, 2022. Sapientia has created and filed multiple foundational patents within the multibillion-dollar global snack space and is led by Cheetos inventor Dr. Eugenio Bortone, one of the world’s preeminent food scientists and extrusion processing experts. The company has an impressive track record of success, having launched a pilot program in the Federated Co-op of western Canada, defined the business development pipeline for private labelling, and developed an innovation road map focused on new all-family snacking occasions and product formats, as well as pet treats and long-range opportunities in meal occasions. “Sapientia remains laser focused on growing the initial success of the protein curls in Federated Co-op by launching into new retailers with new flavors, formats and long-term innovation,” said Eat Well Group president and CEO Marc Aneed in the press release. “Additionally, we look forward to more innovation between Sapientia and Eat Well’s other portfolio investments at Belle Pulses and Amara.”
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About Eat Well Investment Group Inc.
Eat Well is a publicly traded investment company primarily focused on high-growth companies in the agribusiness, food tech, plant-based, and environmental, social and governance (“ESG”) sectors. Eat Well’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for more than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns. For more information about the company, please visit www.EatWellGroup.com.
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