BEND, Ore., April 17, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ:BOF), a food technology company and maker of dehydrated fruit and vegetable-based products, today announced that it has completed the sale of $225,000 of Senior Secured Promissory Notes ("Notes") and Warrants to purchase an aggregate of 56,250 shares of the Company's common stock. Each Warrant is exercisable for a ten-year period at an exercise price of $2.00 per share. The Company has board approval to borrow up to $2,000,000 of Notes. The current balance of Notes after this close is $625,000. The proceeds from this transaction are earmarked for working capital to fulfill orders throughout 2024, as well as capital expenditures on new dehydration equipment, which are necessary to meet the increasing customer demand projected for 2025 and beyond. The Company believes that the completion of this financing will provide it with the necessary resources to execute on its growth strategy, substantial momentum in new orders, and drive long-term shareholder value. The sale was made to a group of seven investors pursuant to a First Amendment to Subscription Agreement dated April 15-16, 2024. The transaction was conducted in accordance with Section 4(a)(2) of the Securities Act of ...