AEGIS BRANDS ANNOUNCES CLOSING OF SALE OF BRIDGEHEAD COFFEE ASSETS

TORONTO, March 8, 2024 /CNW/ - Aegis Brands Inc. (TSX: AEG) ("Aegis Brands" or the "Company") is pleased to announce that its wholly-owned subsidiary, Bridgehead (2000) Inc. today closed the sale of the assets of its roasting, wholesale and coffeehouse business, excluding certain specified assets, for a purchase price of $3,500,000 in cash and the assumption of certain liabilities, to Pilot Coffee Group of Companies.

Aegis Brands owns and operates St. Louis Bar and Grill and Wing City by St. Louis. The Company's vision is to build a portfolio of amazing brands that can grow and flourish with access to Aegis Brands' resources and expertise. The Company is committed to letting each brand operate independently while providing shared expertise to help them thrive. For more information, please visit www.aegisbrands.ca.

Pilot Coffee Roasters is a leading specialty coffee roaster, online retailer, wholesale, educator and café operator that operates all across Canada.  The company follows a sourcing philosophy that positively impacts coffee communities, and roast at the vanguard of innovation to create an unparalleled sensory experience for their customers.  For more information, please visit www.pilotcoffeeroasters.com.  

SOURCE Aegis Brands Inc.