Plandai Biotechnology, Inc. Announces Entry into Material Share Exchange Agreement with Good Salt, LLC

Rhea-AI Summary

Plandai Biotechnology, Inc. (OTC PINK:PLPL) has announced a binding memorandum of understanding to acquire Good Salt, LLC, which includes the assets and operations of ByoPlanet International and Clean Republic. ByoPlanet specializes in electrostatic cleaning technology that improves disinfection efficiency and reduces chemical usage. This acquisition aligns with Plandai's new strategic direction, focusing on health technology innovation. Additionally, Plandai is preparing for a potential up listing, having completed audits for its fiscal years ending June 30, 2022, and June 30, 2021. The company plans to change its name to ByoPlanet, Inc. and seek a new trading symbol, pending regulatory approval.

Positive

• Acquisition of Good Salt, providing access to ByoPlanet's innovative electrostatic technology.
• ByoPlanet has sold over 85,000 units since 2020 to major clients, indicating strong market demand.
• Potential for up listing to a major exchange, improving credibility and visibility.
• Reduced disinfection application time and chemical usage can lead to cost savings for clients.

Negative

• None.

SAN DIEGO, CA / ACCESSWIRE / March 20, 2023 / Plandai Biotechnology, Inc. (OTC PINK:PLPL) announces it has entered into a binding memorandum of understanding to close a share exchange agreement with Good Salt, LLC, a Florida limited liability company. Good Salt is the successor in interest to material tangible and intangible assets, cash and cash equivalents, inventory, and the active operations of two Florida limited liability companies, ByoPlanet International, LLC, and Clean Republic, LLC.

ByoPlanet is a health and technology company that markets and sells an electrostatic chemical cleansing delivery system. Using its patented "Induction Charged Technology™," certified by the Global Biorisk Advisory Council (GBAC), and proprietary chemistry through its Clean Republic label, ByoPlanet delivers effective and safe infection prevention solutions, providing a proprietary complete and uniform disinfectant coverage of any surface, in less time with less solution, and without the threat of cross-contamination. ByoPlanet's focus is to market and sell its products in a variety of settings, including animal health, plant health, commercial cleaning, restoration, pest control, and public services.

Plandai will acquire all of the outstanding interests in Good Salt in exchange for Plandai restricted common stock and Series "A" Preferred stock, resulting in Plandai acquiring the ByoPlanet and Clean Republic assets and business. Since 2020, ByoPlanet has manufactured over 85,000 units for customers around the world, including Fortune 100 companies in industries like Property Restoration, Hospitality, and Animal Health.

"I couldn't be more excited about what this collaboration means for our customers," said Rick O'Shea, CEO of ByoPlanet. "Our commitment to providing the latest and most innovative health and wellness products has always been a top priority, and this exciting development only reinforces that dedication. I can't wait to see the potential opportunities that may come from this collaboration, and I'm eager to continue building upon our reputation as industry leaders. Our customers deserve the very best, and we're committed to delivering just that."

ByoPlanet's system significantly reduces viruses and pathogens using electrostatic technology that reaches around any surface regardless of shape, allowing for more effective disinfection and up to 75% faster applications using less than half as much disinfection solution. This type of electrostatic spraying improves indoor air quality and eliminates virus and other particulates in the air, including mold. The result is more effective disinfection and significant cost savings for a variety of businesses and institutions.

"The closing of this binding share exchange marks a significant shift in Plandai's direction, as we align ourselves with a dedicated team producing an important technology for the world," said Tad Mailander, CEO of Plandai Biotechnology. "We are excited about the potential opportunities this new direction presents and are committed to leveraging our combined expertise and resources to drive innovation and growth. This is a testament to our unwavering commitment to making a positive impact in the world, and we look forward to continuing to push the boundaries of what's possible."

A PCAOB auditor has completed the audits of Plandai's fiscal years ending June 30, 2022, and June 30, 2021, putting the company in a favorable position to meet some of the requirements for an up listing to a major exchange. In preparation for the closing of the agreement, Plandai has filed a corporate action to change its name to ByoPlanet, Inc. and has requested a new trading symbol. These changes are currently awaiting regulatory approval, and the company looks forward to providing further updates to its stakeholders as they become available.

About ByoPlanet and Clean Republic:

ByoPlanet is the leading manufacturer of innovative electrostatic spray technology and equipment. The electrostatic spray systems deliver 360° wrap-around disinfectant coverage onto all surfaces with less chemistry waste, quicker re-entry into the environment, and better protection against the spread of illness-causing germs. The company was founded by Rick O'Shea and Steve Cooper, who is credited with building the most sophisticated electrostatic sprayers on the market. The Company's goal is to make communities healthier through technological innovations in environmental infection control, and to do so efficiently and effectively.

For more information on ByoPlanet International, LLC and Clean Republic, LLC, please visit the website at www.byoplanet.com.

Contact:

Marla Rosen
VP, Marketing
ByoPlanet
mrosen@byoplanet.com

About Plandai Biotechnology, Inc.:

Plandai Biotechnology, Inc. previously owned intellectual properties related to its prior research, development and production of botanical extracts including, but not limited to: trademarks, trade secrets, and product formulations for green tea and citrus products from discontinued operations. The Company's intellectual properties were the result of research and development endeavors with North-West University in Potchefstroom, South Africa, and the Company's former Senteeko Tea Estate located in Mpumalanga, South Africa.

Contact:

plandai@protonmail.com

SOURCE: Plandai Biotechnology

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https://www.accesswire.com/744442/Plandai-Biotechnology-Inc-Announces-Entry-into-Material-Share-Exchange-Agreement-with-Good-Salt-LLC

FAQ

What is the significance of the share exchange agreement between Plandai and Good Salt?

The agreement allows Plandai to acquire the assets and operations of Good Salt, including ByoPlanet's advanced cleaning technology.

What technology does ByoPlanet use in its cleaning products?

ByoPlanet uses patented electrostatic technology that ensures effective disinfection with reduced chemical usage.

How many units has ByoPlanet sold since its inception?

ByoPlanet has manufactured and sold over 85,000 units worldwide since 2020.

When will Plandai Biotechnology change its name to ByoPlanet, Inc.?

Plandai plans to change its name and trading symbol pending regulatory approval.

What steps has Plandai taken towards an up listing to a major exchange?

Plandai has completed audits for its fiscal years ending June 30, 2022, and June 30, 2021, positioning itself favorably for an up listing.