Nepra Foods Announces Closing of First Tranche of a Non-Brokered Private Placement

VANCOUVER, BC / ACCESSWIRE / September 28, 2023 / Nepra Foods Inc. (CSE:NPRA);(FSE:2P6),(OTC PINK:NPRFF) ("Nepra Foods" or the "Company"), is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"). The Offering consisted of 12,201,100 units of the Company (the "Units") at $0.05 per Unit for aggregate gross proceeds of $610,055.00.

Each Unit consists of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional share (each, a "Warrant Share"), at an exercise price of $0.10 per Warrant Share until September 28, 2025.

Proceeds from the Offering will be used for general corporate and working capital purposes.

The securities issued pursuant to the Offering are subject to a four-month hold period ending on January 29, 2024 under applicable Canadian securities laws.

The Units, Shares, Warrants and Shares underlying the Warrants (collectively, the "Securities") have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the Securities of the Company may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. Any Securities offered and sold in the United States shall be issued as "restricted securities" as defined in Rule 144(a)(3) under the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Nepra Foods

Nepra Foods is grounded in a passion for food. We believe eating healthy should be easy. Everybody deserves food options that are truly nutritious and taste good. Food should be allergen-free so that everyone in the family can enjoy eating it together. Plant-based foods can offer high-quality nutrition and taste great while maintaining a low-carb profile. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.