VANCOUVER, British Columbia, December 15, 2021 (GLOBE NEWSWIRE) – Billy Goat Brands Ltd. (“GOAT” or the “Company”) (CSE: GOAT) (FRA: 26B), a venture capital platform focused on the identification, sponsorship and environmental, social and governance incubation (“ESG“) companies specializing in the ocean economy, is pleased to announce that its holding company FunGuys Beverages (” FunGuys “or” Portfolio Company “) has announced key operational updates that will further accelerate the time to market of its KOLD line of cold brew coffee drinks. FunGuys is headquartered in British Columbia and strives to become a leading producer and distributor of organic products infused with chaga mushroom and lion’s mane as an alternative ritual sustainable coffee for today’s health conscious consumers.
Manufacturing and production update
As previously announced, FunGuys has entered into a manufacturing and distribution agreement in the Dallas-Fort Worth, Texas area for its KOLD line of functional drinks. Recently, FunGuys placed a large order for its first production run, which is expected to be completed in the near future. The Texas facility will allow GOAT’s holding company to reach scale and supply its North American distribution channels.
FunGuys is also expected to enter the first phase of its bottle testing program by the end of 2021. Pending completion of bottle testing, the bottles will then be sent to LOOP for the second phase of testing before entering on the North American market and to be launched. as part of the TerraCycle LOOP platform (“BUCKLE“).
FunGuys’ strategic partnership with LOOP will allow it to take advantage of the platform’s reusable packaging distribution channel for its KOLD beverage range. LOOP aims to make environmentally friendly packaging solutions a regular part of the circular economy, by encouraging manufacturers to own and take responsibility for their packaging waste. By becoming a member of LOOP, FunGuys expects to benefit from its integrated network of retail partners to expand KOLD’s presence among leading grocery stores, restaurants and other consumer-centric food and beverage players. that promote sustainable packaging solutions and eco-friendly experiences.
FunGuys is poised to enter the North American market with the finalization of its e-commerce store, including execution by third-party logistics providers. The development of the holding company of its e-commerce website is complete and it is ready to be part of the value chain which also involves various other stakeholders. FunGuys has advanced its go-to-market strategy and hopes to have final designs for its KOLD branded bottles by the end of 2021.
GOAT owns 100% of FunGuys and is committed to providing its investors with growth opportunities focused on ESG. The cold brew coffee market is expected to grow by $ 1.37 billion during the period 2021-2025, which is an implied CAGR of 26.44%.1 This represents a significant growth opportunity for the KOLD line of mushroom infused cold brew coffee to enter the North American market in early 2022.
“We are delighted to see the progress made with the manufacture and launch of the KOLD product line from FunGuys. The growth of the FunGuys business also represents the next phase in the evolution of GOAT. thought leaders and FunGuys are no exception in the area of rapidly growing functional mushrooms, ”said Tony Harris, President and CEO of GOAT.
“GOAT is committed to supporting FunGuys’ vision to become a disruptor in the sustainable alternative drink market. As GOAT strives to foster the ocean economy and reduce the effects of climate change through its investments, our team is committed to supporting GOAT-owned entities to help them make a difference by bringing to market sustainable but profitable products and services for a healthier future for all, ”said Mr. Harris.
ABOUT BILLY GOAT BRANDS
Billy Goat Brands is a venture capital platform focused on investing in high potential companies operating in the blue economy. It intends to achieve these objectives by identifying and investing in the securities of private companies involved in the food and beverage industry, with an emphasis on: (i) vegetable proteins, (ii) functional foods, (iii) food technology and (iv) fermented foods. The Company expects to generate returns on its investments through various outcomes including, but not limited to, IPO transactions, mergers or acquisitions, and other liquidity events of its companies or projects. in which it invests. Billy Goat Brands’ overarching objective will be to generate maximum return on its investments in a manner consistent with its environmental, social and governance values.
For more information about the Company, please visit https://billygoatbrands.com/. Its final prospectus, financial statements and MD&A, among other documents, are all available on the Company’s profile page on SEDAR at www.sedar.com.
The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its market regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
On behalf of:
Billy Goat Brands Ltd.
Tony Harris, CEO and Chairman
Phone. : (778) 222-8221
For more information, please contact:
Email: [email protected]
Phone. : 1-833-4-GOAT-IR (1-833-446-2847)
CAUTION REGARDING “FORWARD-LOOKING” INFORMATION
This press release contains certain forward-looking statements within the meaning of such statements under applicable securities laws. Forward-looking statements are often characterized by words such as “anticipate”, “plan”, “continue”, “expect”, “plan”, “intend”, “believe”, “anticipate”, “Estimate”, “power”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will occur”. The Company has provided forward-looking statements based on what it believes are currently reasonable assumptions. All of these forward-looking statements involve substantial known and unknown risks and uncertainties (including the risk factors identified in the Company’s prospectus dated September 8, 2021), some of which are beyond the control of the Company. These risks and uncertainties include, but are not limited to, resulting delays or failure to obtain required regulatory approval. The reader is cautioned that the assumptions used in the preparation of forward-looking statements may prove to be incorrect and that actual results, performance or achievements could differ materially from those expressed or implied by such forward-looking statements. Accordingly, no guarantee can be given that any of the events anticipated by the forward-looking statements will or will occur, or if any of them occur, what benefits, including the amount of proceeds, the Company will draw from it. Readers are cautioned that the above list of factors is not exhaustive. The Company has no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. .
- ResearchAndMarkets.com. (2021, November 11). Global Cold Brew Coffee Market Report 2021-2025 – Increase in Product Launches and Proliferation of Organized Retail Outlets – ResearchAndMarkets.com [Press Release]. https://www.businesswire.com/news/home/20211111005693/en/Global-Cold-Brew-Coffee-Market-Report-2021-2025—Increasing-Product-Launches-and-the-Proliferation-of- Organized-Outlets — ResearchAndMarkets.com
SOURCE: Billy Goat Brands Ltd.