06:13 AM EDT, 08/19/2024 (MT Newswires) -- Simply Better Brands ( SBBCF ) over the weekend said it issued 35,742 common shares in connection with a branding earnout agreement to advance "Vibez," a new brand of Keto products in the U.S. direct to consumer market.

Under the agreement announced in January 2023, the company partnered with industry experts to advance the brand and will make an initial payment of $250,000 in common shares priced at $0.32.

Simply Better Brands ( SBBCF ) may also make bi-monthly earnout payments of $187,000 if the brand achieves certain sales targets set out in the agreement. The earnout payments are payable in cash or common shares.