Planet Based Foods Declares Completion of Second Phase in Private Placement Offering.

Planet Based Foods Global Inc. , known as PBFG, a company offering a diverse range of hemp-based food alternatives, is excited to declare the successful conclusion of the second and final portion of its previously announced private placement. The non-brokered private placement involved the issuance of 67 convertible debenture units (referred to as “Units”) at a price of $1,000 per Unit, contributing to a total gross aggregate amount of up to CAD $67,000. This phase, termed the “Second Tranche Closing,” follows the company’s issuance of 274 Units during both tranches of the private placement, culminating in total gross proceeds of $341,000.

Each Unit from the Second Tranche Closing consists of:
(i) $1,000 principal value of 10% unsecured convertible debentures (“Convertible Debentures”) issued by the Company, featuring a maturity date of 18 months from the issuance date;
(ii) 5,000 subordinate voting share purchase warrants of the Company (individually known as a “Warrant”).

Holders of the Convertible Debentures can choose to convert them into fully-paid subordinate voting shares of the Company (“Shares”) anytime before the Maturity Date, at a conversion rate of $0.10 per Share. Similarly, each Warrant can be exercised to acquire one Share at an exercise price of $0.20 within a 24-month period from the issuance date.

The proceeds from the Second Tranche Closing will be allocated for general working capital and corporate objectives. All securities released in connection with this phase will be subject to a four-month and one-day holding period, adhering to applicable securities regulations.

About Planet Based Foods:
Planet Based Foods, a subsidiary of PBFG situated in San Diego, California, is dedicated to producing sustainable plant-based food alternatives. Established in 2018, the company’s mission is to contribute to a better food system by offering hemp-formulated superfood products that support both people today and the planet tomorrow. All of Planet Based Foods’ products are entirely vegan. The company specializes in creating clean, non-GMO, nutrient-dense food designed for the future, with sustainable hemp as a primary ingredient. Founded by Braelyn Davis, a former nutrition coach and cannabis marketer, along with Robert Davis, a food scientist and plant-based trailblazer, and Ted Cash, a seasoned restaurant industry professional, the company aims to establish hemp as a nutrient-rich protein source for sustainable global nutrition. Their product range encompasses a consumer line of nourishing frozen foods, plant-based food ingredients, and convenient comfort foods for food service and restaurants.

Forward-Looking Statements:
This news release includes forward-looking statements that reflect the current expectations of the Company and its management. These forward-looking statements are not historical facts but rather represent the Company’s current outlook regarding future results or events. Consequently, the news release contains forward-looking statements that involve risks, uncertainties, and assumptions that are hard to predict. These statements are based on present expectations, estimates, factors, and assumptions, and they encompass both known and unknown risks, uncertainties, and other factors. The statements and information provided are grounded in numerous assumptions concerning current and future business strategies and the business environment. As such, the Company undertakes no obligation to update or revise forward-looking information, except as required by law. Therefore, readers should not overly rely on the Company’s forward-looking statements.

I want to grow my online platform to create awareness about ethical consumerism, environmentalism, and the plant-based lifestyle. My main mission is to share information that empowers people to make better choices and create a VEG NEW WORLD :)

Your support is vital and is helping me share the collected information with thousands of readers and viewers. I try to deliver exclusive stories and relevant content in a challenging commercial environment. Your contribution helps me to cover the costs that my service requires. Please consider contributing (no matter how small) to keep the information flowing so you can remain informed and have life changing interviews and stories to share.

Related articles

Cresilon Announces Global Distribution Agreement for VETIGEL with Covetrus

  Revolutionary hemostatic gel for veterinary surgeons available in the...

Paving the Way for a Vegan Europe: The Plant-Based Manifesto and Its Vision for 2050

  The European Vegetarian Union (EVU) has launched a groundbreaking...

Vegan Triathlete Claims Continental Title

  Charm McShane Triumphs in Oceania Triathlon Sprint The first part...
Adrienn Sarkany
Adrienn Sarkany
Hello there! I'm a 21-year-old university student majoring in Finnish and Korean Language and Literature. I have a deep passion for art and a profound connection to the natural world. My journey through life has been a colorful one, driven by my love for creativity, music, and the wonders of the great outdoors. As a dedicated student, I've already earned a degree in Classic Cantos, a testament to my appreciation for the timeless beauty of classical music. Beyond the classroom, my artistic spirit thrives through my love for painting and drawing. These creative outlets allow me to express my thoughts and emotions, transforming blank canvases into vibrant stories. My interests go far beyond music and art. Singing, playing the piano, and exploring new melodies are integral parts of my life, providing me with both solace and exhilaration. When I'm not immersed in the world of art and music, I find solace in nature's embrace. My heart is drawn to animals and the serene beauty of the natural world, fueling my desire to protect and preserve our precious environment.