UpMeals' Private Placement funding round to begin in June
VANCOUVER, BC, June 3, 2021 /CNW/ - UpMeals, the healthy, fresh and sustainable vending machine solution, is pleased to announce the appointment of three new Board Members and the kick off of its Private Placement financing. Joining the Board of Directors are Kevin Ma, Margaret Chisholm and Mark R. Rutherglen.
Kevin Ma has been appointed Chair of the Audit Committee. Kevin is a partner at Calibre Capital Corp., a private merchant bank and advisory firm, specializing in corporate financing, capital markets advisory, and mergers & acquisitions. He brings 20 years of experience in corporate finance, financial reporting, mergers & acquisitions, senior executive advisory, and working with venture, TSX and NYSE listed companies. He recently completed over $300 million in corporate financings and +$500 million in the value of M&A transactions. Kevin is currently serving several public companies as an executive officer and director. He is a Chartered Accountant certified by the Institute of Chartered Professional Accountants of British Columbia.
Margaret Chisholm has been appointed Chair of the Compensation Committee. A life-long chef, Margaret attended The New York Cooking School. She then went on to create the hugely popular Cooking Classes for the Serious Amateur at the Dubrulle Culinary School, where she mentored thousands of amateur and professional chefs. She spent 20 years as the Executive Chef of Culinary Capers Catering during which time she won the Chef of the Year Award from the International Caterers Association and co-wrote national best selling cookbooks, "The Girls Who Dish" (Whitecap Books). She is passionate about recipe development, new product creation, flavour making, menu development, software development consulting and food production management.
Mark R. Rutherglen joins the board as a Director and Advisor. Mark has spent the past 26 years in the Food Franchise business having launched the Subway Brand in New Zealand in 1995, then moving on to develop Subway in Hong Kong for the past 12 years. During that time he has served on the Board of Directors of the Independent Purchasing Company Asia Pacific (IPCA) for over 20 years which carries out all the supply and logistics for Subway in all of Australasia. Mark will leverage his experience bringing healthy meal solutions to new markets in the expansion of UpMeals.
Private Placement Financing
In addition, UpMeals has kicked off a $5,000,000 Private Placement Funding Round. The proceeds will be used to expand its business in Canada and internationally by leveraging their scalable multiple revenue-stream food technology platform. UpMeals' goal is to become a global leader in the food tech industry.
"UpMeals is solving unique problems around the future of healthy food accessibility. I'm thrilled to be on the board as we expand the technology to automate and streamline food accessibility processes. UpMeals' app and software will provide a very high level of efficiency, lowering costs and allowing for a unique focus on healthy food and customized solutions."
Margaret Chisholm, UpMeals Director
"I understand the complex needs of launching a healthy food product into new markets. My experience bringing Subway to New Zealand back in the mid-90s and the eventual expansion into Australasia can be applied to helping expand the UpMeals brand. I look forward to working closely with Drew and the team to bring this to life."
Mark R. Rutherglen, UpMeals Director
"Drew and his team have worked incredibly hard to grow a healthy food business during a global pandemic, an impressive feat. UpMeals focuses on providing healthy, high-quality food to its customers which, combined with their well thought-out technology will continue to drive business success."
Kevin Ma, UpMeals Director
"The private placement will allow us to position UpMeals to become a global leader in the food tech industry. Our mission from day one has been to make healthy food globally accessible 24/7 through technology, and this will enable us to accelerate our expansion plans and technology development."
Drew Munro, Co-Founder & CEO of UpMeals
UpMeals is a food accessibility solution on a mission to make healthy, nutritious meals available 24/7 via SmartVending machines or grab 'n go retail bars. They provide custom, healthy, sustainably packaged meals that meet the highest food safety standards. Each meal is professionally white-labeled to create beautifully branded meals and SmartVending interfaces. A custom app provides data and feedback on sales and food availability so the business can make informed decisions and reduce waste.
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