Eevia Health Plc

Eevia Health Plc announced its intention to conduct a rights issue of shares to raise approximately SEK 12.1 million to fund its strategic reorientation and turnaround plan. The rights issue will offer preferential rights to existing shareholders, allowing them to subscribe for new shares. The subscription price is set at SEK 0.09 per share. The rights issue is partially secured by external investors who have committed to underwriting 27% of the total amount. The funds raised will be used for debt repayment, working capital, and investment in product development and equipment. Eevia is undergoing a strategic shift to focus on high-margin health products related to gut, kidney, and urinary health. This includes the development of new products such as MaxBIOME™, ProURO™, and ProRENIS™. The company plans to divest certain assets related to wood-based products and berry-based extracts to new startups, Havu Health Oy and Baccus Salas Oy, respectively. These divestments are part of Eevia's plan to streamline operations and achieve financial stability. The rights issue subscription period runs from 28 January to 11 February 2025 in Sweden and from 29 January to 13 February 2025 in Finland. Trading in subscription rights will occur from 28 January to 6 February 2025. No prospectus will be prepared; instead, an exemption document will be published. The company is also negotiating with creditors to extend debt maturity profiles and obtain consent for divestments, aiming for a healthier liquidity profile in 2025.

At the Extraordinary General Meeting of Shareholders of Eevia Health Plc, held on January 17, 2024, in Seinäjoki, Finland, shareholders authorized the Board of Directors to issue shares, options, and other special rights. This authorization allows for the issuance of up to 180,000,000 shares and can be executed in deviation from shareholders' preemptive rights if justified by a significant financial reason. The authorization remains valid until June 30, 2025. Eevia Health, established in 2017, produces bioactive compounds from renewable plant materials, focusing on gut and related health areas. The company operates a green-chemistry production facility in Finland and is listed on the Spotlight Stock Market in Sweden under the ticker EEVIA. For more information, contact CEO Stein Ulve or visit their website.

Eevia Health Plc plans to divest €2.5 - 3.0 million worth of equipment related to its berry-based ingredient manufacturing to Baccas Salus Oy, a start-up in Kemijärvi, Finland. This move aims to capitalize on market opportunities that Eevia cannot pursue with its current resources. Baccas Salus will compensate most of the divestment with shares, which Eevia will distribute as dividends to its shareholders, and a smaller portion in cash to help pay down Eevia's debt. Eevia has developed expertise in berry extract manufacturing and sees potential for growth, but its current facility limits cost-efficiency. The divestment will allow Eevia to focus on high-margin gut health products, while Baccas Salus will build a new energy-efficient facility to manufacture a wide range of berry products. The restructuring involves cooperation negotiations with employees and creditor approval. Eevia will continue to seek non-dilutive funding for its projects and plans to sell wood-based ingredients to Havu Health in 2025. The strategy aims to provide Eevia's shareholders with multiple opportunities for success.

Eevia Health Plc plans to divest assets related to Retinari™, a promising eye health compound, by transferring them to a new start-up, Havu Health Oy. This move aims to better manage and fund the development of Retinari™, which has shown potential in combating Age-related Macular Degeneration (AMD). Due to limited resources, Eevia is focusing on faster-to-market products in gut health. Despite investing significantly in Retinari™ and receiving European recognition, Eevia has struggled to secure further funding, stalling the project. Havu Health, co-founded by Eevia's CTO, will seek additional funding and conduct necessary studies for Retinari™. Eevia will receive shares in Havu Health, which will be distributed to its shareholders as a tax-free dividend. Eevia is exploring options to provide liquidity for these shares.

Eevia Health Plc is enhancing its turnaround plan by collaborating with Konsulttiyhtymä AIKA to focus on revenue generation and market opportunities in gut and microbiome health. The company is leveraging high-strength bioactive proanthocyanidin formulas to build a stronger market presence. Recognizing the importance of gut health, Eevia plans to introduce its product MaxBIOME™, which uses berry extracts to support beneficial gut bacteria and combat pathogens. Pre-clinical research indicates potential benefits for gut health, and Eevia is seeking funding for a clinical study. The product is expected to launch in late 2025. Eevia is also exploring bioactives for urinary health, targeting a product launch in early 2026. The company, founded in 2017, focuses on bioactive compounds from sustainable plant materials and operates a production facility in Finland. Eevia's shares are listed on the Spotlight Stock Market in Sweden.

Eevia Health Plc's Board of Directors has announced plans for a rights issue of shares, offering existing shareholders preferential rights to subscribe, with a maximum amount of approximately SEK 12.1 million before transaction costs. This initiative aims to support the company's strategic reorientation and turnaround plan. The rights issue requires authorization from an extraordinary general meeting scheduled for January 17, 2025. External investors have secured about 27% of the rights issue through underwriting commitments. To maintain operations until the completion of the rights issue, Eevia has secured a EUR 200,000 bridge loan. Shareholders will receive one subscription right per share held, allowing them to subscribe for two new shares at an expected price of SEK 0.09 per share. The subscription period varies between Sweden and Finland, running from late January to mid-February 2025. The company will issue an information document in place of a prospectus for the rights issue.

Shareholders of Eevia Health Abp are invited to an Extraordinary General Meeting on January 17, 2025, at 12:00 Finnish time, at the company's main office in Seinäjoki, Finland. Registration and voting ticket distribution will begin at 11:00. The meeting agenda includes opening the meeting, electing officials, verifying meeting legality and attendance, and authorizing the Board of Directors to issue shares, options, and special rights up to 180 million shares, valid until June 30, 2025. This authorization replaces the previous one from June 5, 2024. Meeting documents and proposals are available on Eevia Health's website. Shareholders must register by January 14, 2025, and provide necessary identification details. Holders of nominee-registered shares and shares registered with Euroclear Sweden AB must follow specific registration procedures. Shareholders can participate via proxy with appropriate documentation. On December 30, 2024, Eevia Health had 67,055,595 shares, each granting one vote. Eevia Health, founded in 2017, produces bioactive compounds from plant materials and operates a green-chemistry facility in Finland. The company is listed on the Spotlight Stock Market in Sweden. For more information, contact CEO Stein Ulve.

Eevia Health Plc announced that it has decided to terminate its letter of intent with Stemtech Corporation, thereby abandoning the proposed reverse takeover. After careful consideration, Eevia's Board of Directors concluded that it is in the best interest of the company and its stakeholders to focus on its own strategic business plans rather than pursuing the complex and costly merger with Stemtech, which also posed a high risk of not being able to relist on the Spotlight Stock Market. Eevia will now concentrate on its Arctic polyphenol products, which are expected to drive significant revenue growth. Eevia Health, founded in 2017, specializes in bioactive compounds extracted from wild-harvested plants in Finland and Sweden, and it operates a green-chemistry production facility.

Eevia Health has received a blanket sales order valued at MSEK 1,849 (KUSD 169) for its elderberry extract, Feno-Sambucus™ 7 ORGANIC, from Select Ingredients, a distributor based in San Diego, California. This distributor focuses on organic ingredients and serves customers in major US states. The end customer operates in the rapidly growing whole foods and drinks sector across North America. Feno-Sambucus™ 7 ORGANIC is noted for its immune-modulating properties and enhanced bioactivity due to Eevia's production methods. The order will be fulfilled in several stages over the coming months and is a repeat order, with expectations for future repeats. Eevia Health, founded in 2017, produces bioactive compounds from wild-harvested plant materials, primarily from Finnish and Swedish forests. The company emphasizes sustainability and operates a green-chemistry production facility in Finland. Eevia Health is listed on the Spotlight Stock Market in Sweden.

Eevia Health Plc has approved a new strategic business and turnaround plan for 2025-2026, revising its financial targets. Following an analysis, the company aims for a revenue of MEUR 3 and an EBITDA of KEUR 100 in 2025, and a revenue of MEUR 5 with an EBITDA of MEUR 1 in 2026. These targets are set conservatively, but the company sees potential for better performance. Eevia Health, founded in 2017, produces bioactive compounds from wild-harvested plant materials in Finland and Sweden. The company is listed on the Spotlight Stock Market in Sweden. For more information, contact CEO Stein Ulve or visit their website.