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Creatd Enters MOU to Acquire Breakfast Brand Brave.

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Vincent

MANews-(C)2009-2022

New Jersey, US-based creativity focussed holding company Creatd, Inc. (NASDAQ: CRTD) has entered into a Memorandum of Understanding (MOU) to purchase a 100% ownership stake in UK-based plant-based food company Brave, the company said.

Creatd has entered into definitive agreements for a private placement with an aggregate principal amount of USD 2.15m. Pursuant to the Private Placement, the company agrees to sell and issue original issue discount convertible debentures and warrants to purchase shares of common stock.

The debentures will be issued with a 10% original issue discount, resulting in gross proceeds of approximately USD 1.9m, have a maturity date of November 30, 2022, and are convertible into shares of the company's common stock at a conversion price of USD 2.00 per share.

Following the close of the proposed transaction, which the company expects to occur within the coming...

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