Vancouver, British Columbia - TheNewswire - February 28, 2022- Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (OTC:BLRZF) (Frankfurt: 0JJ) (the “Company” or “Blackhawk”), is pleased to announce that it has entered into a definitive share purchase agreement (the “Purchase Agreement”) pursuant to which it intends to acquire (the “Acquisition”) the remaining 49% of Stable Foods Co. (formerly, NuWave Foods Inc.) (“Stable Foods”). Blackhawk intends to acquire 7,350 class A common shares (the “Acquisition Shares”) in the capital of Stable Foods, which will result in the Company owning 100% of Stable Foods.
Acquisition of Remaining 49% equity interest in Stable Foods
Under the terms of the Purchase Agreement, the Company is required to issue 3,200,000 common shares to the remaining shareholders of Stable Foods, at a deemed price of $0.41 per share, to acquire the Acquisition Shares.
The Company is at arms-length from each of the shareholders of Stable Foods. The Acquisition does not constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Corporation within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. A fee of 120,000 shares of the Company is owing to Michael Haberl of 21488880 Alberta Ltd., in connection with facilitating the entering into of the Purchase Agreement and completion of the Acquisition.
Completion of the Acquisition remains subject to customary closing conditions and is expected to completed in the coming weeks.
NuWave Foods Inc. changes name to “Stable Foods Co.”
With the development of Stable Foods retail products and its branding management, Stable Foods has changed its name effective immediately to “Stable Foods Co.” The name and branding change provides a more accurate description of the products manufactured and sold. The “Forever” brand will remain on all retail packaged products. A product offering and branding update will be added to the Company’s website.
“It is important to complete the acquisition of Stable Foods before it accomplishes significant milestones and I am excited we are able to so” said Frederick Pels, CEO of Blackhawk. “It is expected that Stable Foods will show significant progress in the near term and while doing so as a wholly-owned subsidiary of Blackhawk..”
About Stable Foods Co.
Stable Foods Co. is a fully licenced commercial kitchen and baked goods manufacturer located in Edmonton Alberta. Stable Foods Co. has a process to create a shelf-stable baked product without the use of any preservatives. This can be applied to virtually any baked good. Given the current world climate, demand for products with shelf stability has skyrocketed. Using Stable Foods Co. considerable contacts in the food industry across North America, Stable Foods Co. is positioned to quickly be a leader in this rapidly growing space.
About Blackhawk Growth
Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, Stable Food Co., MindBio Therapeutics, Digital Mind Technology as well as an equity position in Gaia Grow Corp. (CSE:GAIA) .
The company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
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For further information please contact:
Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to production and sale of the Stable Food Co. products and approval of the products. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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