Investment

Eat & Beyond Provides Overview of Latest Portfolio Company Investment: Purpose ESG Holdings Inc.

Published

1 year ago

May 30, 2023

Vancouver, BC, May 30, 2023 (GLOBE NEWSWIRE) — Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative protein sector, is pleased to provide an overview of its latest portfolio company investment: Purpose ESG Holdings Inc. (“Purpose ESG”). Purpose ESG is an investment issuer building a portfolio of Clean Tech companies that support environmental, social and governance (ESG) outcomes.

On May 19, 2023, Eat & Beyond announced its completion of the acquisition of 50% of the issued and outstanding securities in the capital of Purpose ESG pursuant to the terms and conditions of a securities exchange agreement dated April 26, 2023, among the Company, Purpose ESG, the shareholders and warrantholders of Purpose ESG.Eat & Beyond’s CEO, Michael Aucoin, commented: “We’re excited to add Purpose ESG to our portfolio as a strategic diversification into new sectors. Their focus on ‘clean’ and ‘tech’ is a natural fit with our goal of making it easy to invest in innovative companies that are working to create a smarter and more sustainable world.”Purpose ESG’s CEO, Young Bann commented: “We welcome Eat & Beyond’s investment and support, both of which will help us continue making it easy to invest in Canadian and US Clean Tech startups with the aim of achieving outsized returns through our fast track go-public strategies. By providing access to ESG investment opportunities that are specifically addressing the world’s urgent environmental issues, we’re ensuring that our shareholders’ investments have impactful purposes and the potential for market-beating returns.”

Purpose ESG’s investment strategy involves 4 pillars:

Discover ESG tech startups in Canada and the US at early and pre-growth stages
Work with portfolio companies to identify and realize incremental growth opportunities
Deliver 2 to 3 equity-linked investments annually with fast track go-public pathways
Capitalize through management buy-backs, public offerings and trade sales

Their go-public portfolio currently consists of 2 companies:

Stardust Solar Technology Inc. is a British Columbia-based solar and EV charging franchiser that includes 3 entities generating revenues: from training of certified solar energy designers, installers and system managers; from franchising of solar business and equipment sales opportunities; and from expansion into the US solar market.
Carbon Upcycling Technologies is an Alberta-based waste and carbon utilization company with a patented technology platform that converts CO2 gas into nanomaterials. Their initial focus is on sequestering industrial CO2 in the massive cement and concrete market, which is the source of 8% of global CO2 emissions.

Purpose ESG’s sector emphasis is on 5 core technologies poised for substantial growth due to their ability to drive sustainability and the increasing global efforts to reduce CO2 emissions:

Electrification: energy storage systems (ESS); EV batteries & battery management systems (BMS)
Circular economy: biodegradable plastics; EV battery recycling; waste-to-energy
Hydrogen power: primarily for heavy road transport
Carbon capture: blue hydrogen/methanol; CO2 enforced concrete
Food tech: alternative protein; urban/vertical farming

Leading Purpose ESG is a lean and qualified operating team with industrial expertise, proven business credentials, and valuable international market network connections:

CEO Young Bann served as a Corporate Executive in General Electric and as CEO of Hyundai Materials (a Hyundai Motor Group affiliated company) and has built business relationships with ESG industry leaders for over 30 years.
CFO Kelvin Lee serves as CFO and Director for multiple listed and private companies, and holds a CPA, CGA designation and a Bachelor of Business Administration (Hons).

For more information about Purpose ESG and to sign up for their latest updates, visit purposeesg.com/

Contact Information for Purpose ESG:
Young Bann, CEO
Purpose ESG Holdings Inc.
young@purposeesg.com
778-887-8912

For investor inquiries or further information, please contact: young@purposeesg.com

ABOUT EAT & BEYOND

Eat & Beyond is an investment issuer that makes it easy to invest in the future of food. Eat & Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat & Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply.

For more information about Eat & Beyond and to sign up for our latest updates, visit eatandbeyond.com

ON BEHALF OF THE BOARD OF DIRECTORS:

Michael Aucoin, CEO
Info@Eatbeyondglobal.com
(604) 416-4099

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.

Cautionary Note

All information contained in this news release with respect to Purpose ESG was supplied by Purpose ESG for inclusion herein, and Eat & Beyond directors and officers have relied on Purpose ESG for such information.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

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Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Published

3 days ago

November 6, 2024

Anne Joseph

NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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