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PBIC To Rescind Share Exchange With Core One Labs

C.PBIC

TORONTO, ON/ ACCESSWIRE / April 14, 2021 / Plant-Based Investment Corp. ("PBIC", or the "Company") (CSE:PBIC), announced today that the Company has reached an agreement with Core One Labs Inc. ("Core One") to rescind the share exchange transaction previously completed between the parties (the "Share Exchange").

Effective March 16, 2020, the Company subscribed for and acquired 5,333,333 common shares of Core One (or 2,666,667 common shares of Core One after giving effect to Core One's share consolidation completed on July 8, 2020), and in consideration issued 3,149,606 common shares of PBIC to Core One. The Company and Core One have agreed to rescind the Share Exchange and return to treasury and cancel all securities of the Company and Core One issued in connection with the transaction.

About Plant-Based Investment Corp.

Plant-Based Investment Corp. (formerly, Cannabis Growth Opportunity Corporation) ("PBIC") is an investment corporation that offers unique exposure to the global cannabis sector. PBIC's main objective is to provide shareholders with long-term total returns through its portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products, services and technologies related to the cannabis plant family, its various compounds and other combinatory ingredients and products.

Forward-looking Statements

This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company's business plan and matters relating thereto, and risks associated with the Company's investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on SEDAR. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Plant-Based Investment Corp.
Paul Crath
Chief Executive Officer
(647) 660-0566

CONTACT: Plant-Based Investment Corp.



View source version on accesswire.com:
https://www.accesswire.com/640438/PBIC-To-Rescind-Share-Exchange-With-Core-One-Labs