BranchOut Food announced the closing of a $525,000 investment in company led by its CEO, Eric Healy, who invested $400,000, with Eagle Vision Fund LP investing $100,000, and the Company’s President investing $25,000, in exchange for the issuance of 692,529 shares of common stock . In addition, the Company closed a convertible note for $3,400,000 with Kaufman Kapital. Complete details of these transactions can be found in the Company’s Current Report on 8-K filed with the Securities and Exchange Commission. The capital will be used to complete the build out of the Company’s large-scale production facility in Peru, including for its 3rd and 4th Radiant Energy Vacuum machines built by EnWave Corporation (NWVCF). The Company expects the new factory to be online starting in Q4 and to have approximately $40M in production capacity and estimated margins of 40-50%. BranchOut Food is currently filling orders valued at over $8M from some of the country’s largest retailers but has turned down additional orders in the trailing twelve months as it awaits the new factory opening.
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