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Planet Based Foods Global Inc. (PBFFF) is a company based in Vancouver, British Columbia, that focuses on offering a diverse range of hemp-based food alternatives. Founded in 2018, the company operates through its subsidiary in San Diego, California, and is committed to providing sustainable plant-based food products. Led by a team of experts, including former nutrition coach Braelyn Davis, food scientist Robert Davis, and restaurant industry veteran Ted Cash, Planet Based Foods aims to revolutionize the food industry by offering vegan, non-GMO, and nutrient-dense products made with sustainable hemp as the primary ingredient. With a vision of creating a better food system for the future, the company's product line includes nutritious frozen foods, plant-based ingredients, and comfort foods for food service establishments.
Planet Based Foods has released a bi-weekly status update regarding its Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission (BCSC). The MCTO, applied for due to delays in filing the company's audited annual financial statements for the year ending December 31, 2023, prevents the CEO and CFO from trading the company's securities but does not restrict public shareholders. The MCTO will stay in effect until two days after all required filings are submitted. The company expects to complete the audit and file these documents by July 12, 2024. Since the initial announcement on May 2, 2024, there have been no significant changes or additional defaults, and the company continues to comply with NP 12-203 guidelines.
Planet Based Foods Global, trading under the ticker PBFFF, has issued a bi-weekly update concerning a Management Cease Trade Order (MCTO) obtained from the British Columbia Securities Commission (BCSC). The MCTO, initially applied for on May 1, 2024, restricts trading by the company's CEO and CFO but does not impact public trading. The order was due to delays in filing audited financial statements for the year ending December 31, 2023. The company aims to complete these filings by June 28, 2024. There have been no material changes or failures in fulfilling obligations since the initial announcement on May 2, 2024.
Planet Based Foods Global, a company offering hemp-based food alternatives, issued an update regarding a management cease trade order (MCTO) from the British Columbia Securities Commission (BCSC). This order was requested due to delays in submitting audited annual financial statements for the year ending December 31, 2023. The MCTO, effective May 1, 2024, restricts trading by the CEO and CFO but not by other shareholders. The company expects to complete the necessary filings by June 28, 2024. No new material changes or defaults have occurred since the initial announcement. Regular bi-weekly updates will continue until the filings are complete.
Planet Based Foods has completed a non-brokered private placement of subordinate voting shares at $0.10 per share, raising CAD $1,000,000. The funds will be used for general working capital and corporate purposes. The issued securities will be subject to a four-month and one day hold period as per securities laws.
Planet Based Foods (CSE: PBF, OTC Pink: PBFFF, FSE: AZ00) has announced a non-brokered private placement of subordinate voting shares at $0.10 per share, aiming to raise CAD $1,000,000. Coenda Investments Holding Corp. will purchase all shares, resulting in Coenda holding 49% of the company's issued shares. This transaction is exempt from security holder approval due to the company's serious financial difficulty. Proceeds will be used for general working capital and corporate purposes. The offering is expected to close on May 31, 2024, pending necessary approvals.
Planet Based Foods Global Inc. announces a delay in filing its audited annual financial statements due to issues with external auditors, setting a new deadline for June 28, 2024. The Company has applied for a management cease trade order and received an extension to complete a private placement offer. Despite the delay, there is no undisclosed material information.
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