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Sustainable Produce Urban Delivery Inc. Engages Canaccord Genuity Corp. and Desjardins Securities Inc. for up to C$30 Million Private Placement Financing

Nov 11, 2020•over 4 years ago

Amount Raised

$30 Million

Vancouver

Description

Sustainable Produce Urban Delivery Inc. ("SPUD" or “the Company”), today provided an update on its proposed transaction with Rainy Hollow Ventures Inc. (“Rainy Hollow”) (TSXV: RHV.P), a Capital Pool Company listed on the TSX Venture Exchange. As previously-announced by Rainy Hollow, the Company and Rainy Hollow entered into a letter of intent (the “LOI”) dated September 30, 2020 which outlines the terms and conditions pursuant to which Rainy Hollow and SPUD will complete a transaction that will result in a reverse take-over of Rainy Hollow by SPUD (the “Transaction”)

Company Information

Company

Spud

Location

Vancouver, Washington, United States

About

FoodX Technologies is the software behind SPUD.ca's integrated food business eco-system that includes online retail, community retail locations, food preparation services, wholesale and last mile distribution. FoodX Technologies is the only scalable end-to-end eGrocery management Solution (eGMS) designed to meet the needs of large and small grocery retailers while providing profitable unit economics. FoodX's award winning eGrocery platform is the culmination of 20 years of experience in online grocery and has a proven track record of delivering efficiency, sustainability and profitability. FoodX utilizes Microsoft as its technology partner and has partnered with Canada's Digital Technology Super Cluster in the advancement of its innovation pipeline. For more information, please visit https://www.foodxtech.com/

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