New IPO – Rritual Superfoods Inc. (CSE: RSF) – RICH TV LIVE – March 8, 2021 – New Listing – Rritual Superfoods Inc. (RSF, RSF.WT)

The common shares and warrants of Rritual Superfoods Inc. have been approved for listing on the CSE.

Each warrant shall entitle each warrantholder thereof, upon exercise at any time after the Issue Date and before the Expiry Time, to acquire one Warrant Share upon payment of the Exercise Price of $0.60.

The Issuer is engaged in the business of developing, marketing, distributing and selling proprietary dietary and nutritional supplements containing herbs and other extracts such as fruits, roots, fungi, and vegetables. The Issuer specializes in the formulation and distribution of plant-based products in small batches featuring functional mushrooms and adaptogen ingredients. The Issuer has submitted applications to Health Canada for approval of the distribution of their product across Canada. The Issuer plans to distribute their products across Canada and the United States upon obtaining all necessary regulatory approvals and licences.

Rritual Superfoods Inc. (“Rritual” or the “Company”) (CSE:
RSF; RSF.WT) announced that it has closed its previously announced initial public offering
and raised total gross proceeds of $6,000,000.
On February 26, 2021, the Company obtained a receipt for its final prospectus (the “Final
Prospectus”) filed with the securities regulatory authorities in each of the provinces of
Canada (other than Québec) and entered into an underwriting agreement for an initial public
offering of securities of the Company (the “Offering”). The Offering was underwritten by
Clarus Securities Inc. and Canaccord Genuity Corp. (the “Co-Lead Underwriters”). The
Offering was comprised of units (the “Units”) with each Unit consisting of one common
share of Rritual (a “Common Share”) and one-half Common Share purchase warrant. Each
whole warrant (a “Warrant”) entitles the holder to purchase one Common Share of Rritual
at a price of $0.60 per Common Share for a period of 36 months from the closing of the
Offering, subject to an acceleration provision. Pursuant to the Offering, Rritual issued an
aggregate of 20,000,000 Units at a price of $0.30 per Unit, for total gross proceeds of
$6,000,000, which included the full exercise of an over-allotment option granted to the CoLead Underwriters.
Following the receipt for the Final Prospectus, an aggregate of 3,183,083 convertible note
units (each a “Convertible Note Unit”), consisting of an aggregate of 3,183,083 Common
Shares and 1,591,528 non-transferable Common Share purchase warrants (each, a
“Convertible Note Unit Warrant”), converted as of February 26, 2021 at a deemed price of
$0.30 per Convertible Note Unit. Each Convertible Note Unit Warrant is exercisable for one
Common Share at price of $0.60 each for a period of 24 months from the date of issuance
of the Convertible Notes

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