Planet Based Foods Announces Closing of First Tranche of Private Placement
Each Unit issued pursuant to the First Tranche Closing is comprised of: (i)
Each Convertible Debenture is convertible at the holder's option into fully-paid subordinate voting shares of the Company ("Shares") at any time prior to the Maturity Date at a conversion price of
Each Warrant is exercisable into one Share of the Company at an exercise price of
The net proceeds of the Firth Tranche Closing will be used for general working capital and corporate purposes.
All securities issued in connection with the First Tranche Closing will be subject to a four-month and one day hold period in accordance with applicable securities laws.
About Planet Based Foods
PBFG, through its wholly-owned subsidiary in
For further details about the Company and the listing transaction, please refer to the Company's listing statement at www.thecse.com and the Company's profile at www.sedarplus.ca. In addition, to view information about the Company and subscribe to automated email alerts for future news and public filings, visit the Planet Based Foods website at www.planetbasedfoods.com.
On Behalf of the Board
Braelyn Davis
CEO and Co-Founder
Forward-Looking Statements
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate," "assume," "believe," "plan," "estimate," "expect," "intend," "may," "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. Therefore, this news release contains forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Accordingly, readers should not place undue reliance on the Company's forward-looking statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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SOURCE Planet Based Foods