Simply Better Brands Corp. announced that it has secured USD 5 million in credit facilities with a Tier One Canadian bank for its 100% owned subsidiary TRU Brands Inc. Under the terms of the agreement, up to USD 5 million (CAD 6.8 million) in credit facilities is available to Tru Brands Inc. and its Canadian subsidiary Trubrands Snack Company Inc. in the form of a letter of credit or financial guarantees. The Company is also working with this bank on additional credit facilities to further reduce its cost of capital for Tru Brands Inc. The credit facilities feature rates of 1.5% per annum with Letters of Guarantee and 2% per annum with Letters of Credit.

In addition, the Company will incur additional fees on these credit facilities of approximately 2-2.5% as these credit facilities are 100% guaranteed by Export Development Canada (EDC). These credit offerings will substantially lower the cost of capital to 3.5%-4% per annum compared to its current line of credit financing arrangement that averages 15% per annum. The Company intends to use these credit facilities to support the expansion of TRUBAR?

sales in the U.S., Canada and other international markets.