Planet Based Foods Announces Closing of Private Placement
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 successfully raised CAD $1,000,000 through a private placement.
- The funds will be directed towards general working capital and corporate purposes, potentially supporting business operations and growth.
- The issued securities come with a four-month and one day hold period, which may limit immediate liquidity for investors.
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2024) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) ("PBFG," "Planet Based Foods" or the "Company"), a Company that offers a wide range of hemp-based food alternatives, is pleased to announce that, further to its news release dated May 29, 2024, it has completed the non-brokered private placement of subordinate voting shares (a "Share") at a price of
The net proceeds of the Offering will be used for general working capital and corporate purposes. All securities issued in connection with the Offering 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 San Diego, California, Planet Based Foods, is a producer of sustainable plant-based food alternatives. Planet Based Foods was founded in 2018 in San Diego, California, with a mission to build a better food system by providing hemp-formulated superfood products to people today that support our planet tomorrow. All Planet Based Foods products are
Additional information about the Company is available on SEDAR+ (www.sedarplus.ca). To 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
Contact Information
info@planetbasedfoods.com
(719) 445-1993
Forward-Looking Statements
Certain statements included in this news release constitute "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements or information relate to, among other things, the Offering and the closing thereof. These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedarplus.ca. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend and does not assume any obligation to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information other than as required by applicable law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211211
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