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Bullboard - Stock Discussion Forum Plant-Based Investment Corp CWWBF

Plant Based Investment Corp is an investment corporation that offers exposure to the cannabis sector. Its focuses on investments that relate to the broader cannabis plant family, including hemp plants and cannabinoids, including CBD, CBG, and CBN, along with other terpenes and flavonoids found in cannabis and other plants.

GREY:CWWBF - Post Discussion

Plant-Based Investment Corp > Big profit for PBIC on Bhang, which they now control.
View:
Post by guerreiro on Apr 06, 2021 12:38am

Big profit for PBIC on Bhang, which they now control.

Given the assets PBIC is trading at a big discount.
PBIC ANNOUNCES FURTHER INVESTMENT IN BHANG INC
ACCESSWIRE MAR 05, 2021 05:15 PM EST

TORONTO, ON / ACCESSWIRE / March 5, 2021 / Plant-Based Investment Corp. ("PBIC", or the "Company") (CSE:PBIC), announces that the Company has acquired an aggregate of 37,507,777 subordinate voting shares ("Subordinate Voting Shares") of Bhang Inc. (CSE:BHNG) ("Bhang") pursuant to a number of transactions as detailed below.

The Company acquired 3,846,154 Subordinate Voting Shares of Bhang at a price of $0.065 per share for a total subscription amount of approximately $250,000 through a non-brokered private placement (the "Offering").

Pursuant to a debt settlement agreement (the "Debt Settlement"), the Company acquired 23,661,623 Subordinate Voting Shares at a deemed price of $0.065 per share in settlement of approximately $1,538,005 in principal advanced and interest owing to the Company under an operating facility (the "Operating Facility").

The Company elected to convert a total of 10,000 multiple voting shares ("Multiple Voting Shares") of Bhang into 10,000,000 Subordinate Voting Shares (the "Conversion Notice").

Prior to completion of the Offering, entry into the Debt Settlement and electing to provide the Conversion Notice (collectively, the "Transactions"), the Company held 37,544,833 Subordinate Voting Shares, 15,500,000 warrants to acquire Subordinate Voting Shares (the "Warrants"), 10,000 Multiple Voting Shares and was deemed to hold an additional 12,311,107 Subordinate Voting Shares issuable upon conversion of the maximum advance and interest payable on the Operating Facility (prior to the Debt Settlement), representing approximately 35.83% of the issued and outstanding Subordinate Voting Shares of Bhang on a non-diluted basis and approximately 52.84% of the issued and outstanding Subordinate Voting Shares of Bhang on a partially diluted basis, assuming the exercise of all of the Warrants held by the Company, conversion of all Multiple Voting Shares held by the Company and conversion of the maximum advance and interest payable on the Operating Facility (prior to the Debt Settlement).

Following the completion of the Transactions, the Company beneficially owns or controls 75,052,610 Subordinate Voting Shares, 15,500,000 Warrants and is deemed to hold an additional 11,892,473 Subordinate Voting Shares issuable upon conversion of the maximum advance and interest payable on the Operating Facility, representing approximately 50.42% of the issued and outstanding Subordinate Voting Shares of Bhang on a non-diluted basis and approximately 58.13% of the issued and outstanding Subordinate Voting Shares of Bhang on a partially diluted basis, assuming the exercise of all of the Warrants held by the Company and conversion of the maximum advance and interest payable on the Operating Facility.

The Subordinate Voting Shares of Bhang were acquired for investment purposes. While Company currently has no plans or intentions with respect to its securities of Bhang, the Company may from time to time acquire additional securities of Bhang, may sell all or a portion of its securities of Bhang or may continue to hold the Subordinate Voting Shares, Warrants, Operating Facility, or other securities of Bhang, depending on market conditions, the Company's view of Bhang's prospects, other investment opportunities and other factors considered relevant to the Company.

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report of the Company dated March 5, 2021. A copy of the early warning report will be available on Bhang's issuer profile on SEDAR at www.sedar.com.

For further information, please contact:

Plant-Based Investment Corp.
240 Richmond Street West
Toronto, ON, M5V 1V6
Attention: Paul Crath, Chief Executive Officer
Tel:

Comment by nightowl21 on Apr 06, 2021 5:54am
A pretty staggering number...ie shares plus wattants Pbic will own approx 100 million shares of Bhng.....who will have approx 165.0 million shares in total outstanding! That will leave  a float of about 65.0 million!! ...if Bhng hits 1.00$ it will represent an asset valued at 100..0 million$ to Pbic
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