01:08 PM EDT, 05/09/2024 (MT Newswires) -- Simply Better Brands ( SBBCF ) on Thursday said it closed its upsized, non-brokered, private placement of share units, raising $4 million.

The company issued 11.4-million units priced at $0.35 and made up of a share and one half of a two-year warrant to buy a second share for $0.45.

The company plans to use the proceeds to support the growth and continued market expansion of TRUBAR protein bars sold by its subsidiary, Tru Brands, and for the expansion of the No BS Skincare business and for general corporate and working capital purposes.

Simply Better shares were last seen up C$0.01 to C$0.38 on the TSX Venture Exchange.

Price: 0.38, Change: +0.01, Percent Change: +2.70