August 25, 2021
VICTORIA, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) -- CE Brands Inc. (TSXV: CEBI; CEBI.WT) (“CE Brands”), a data-driven consumer-electronics company, today announced its financial results for the three-month period ended June 30, 2021 (“Q1 2022”). Currency amounts are in Canadian dollars unless otherwise noted.
Further, CE Brands announces the lockup of an additional 1,555,000 shares from early-stage investors in eBuyNow eCommerce Ltd. prior to the RTO (as defined below). The lockup is a 12 month voluntary lockup agreement.
Q1 2021 Highlights
“CE Brands took a major step forward in Q1 2022 in closing our RTO and closing of an oversubscribed public offering of $17.25mm in June,” said Chief Executive Officer and Chairman Craig Smith. “The whole company is focused on using our internal data to drive our target to be selling globally in 192 product categories in the next 5 years. The manufacturing industry as a whole is experiencing major supply chain and inventory challenges, the closing of the Offering has enabled us to plan long lead time orders accordingly and roll out global launches into the initial 8 product categories this fiscal year.”
Financial Statements
CE Brands’s condensed interim consolidated financial statements and Management’s Discussion and Analysis for Q1 2022 are available on www.cebrands.ca and www.sedar.com.
For more information, please see CE Brands' corporate presentation at www.cebrands.ca.
About CE Brands
CE Brands Inc. (TSXV: CEBI; CEBI.WT) develops products with leading manufacturers and iconic brand licensors by utilizing proprietary data that identifies key market opportunities. With sales today in over 70 countries, our innovative, highly repeatable process, which we call the “CE Method”, has created an optimal growth path for CE Brands to be the premier global licensed brand manufacturer.
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Further Information
For further information about CE Brands or its principal operating subsidiary, eBuyNow eCommerce Ltd., please contact:
Kalvie Legat
Chief Financial Officer
778-771-0901
ir@cebrands.ca