(TheNewswire)
Vancouver, British Columbia – TheNewswire – December 23, 2024 - Plantify Foods, Inc. (TSXV: PTFY) ("Plantify" or the "Company") reports that it has entered into a debt settlement agreement with YA II PN, Ltd. (the “Creditor”), pursuant to which the Company will settle (the “Debt Settlement”) USD$444,000 (approximately CAD$636,829) in outstanding debt (the “Debt”) through the issuance of 1,141,270 common shares in the capital of the Company (the “Settlement Shares”) to the Creditor at a deemed price of CAD$0.558 per Settlement Share.
The Company incurred the Debt through the issuance to the Creditor of a promissory note in the principal amount of USD$400,000 (approximately CAD$573,720) which matures on February 2, 2025, plus accrued interest thereon in the amount of USD$ 44,000 (approximately CAD$63,109).
The Debt Settlement is subject to acceptance of the TSX Venture Exchange.
Contacts:
Gabriel Kabazo
Chief Financial Officer and Corporate Secretary
Phone: (778) 601-8420
Investor Relations
Email: ir@plantifyfoods.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding but not limited to the issuance of the Settlement Shares. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Plantify’s current beliefs and is based on information currently available to Plantify and on assumptions it believes are reasonable. These assumptions include but are not limited to receipt of TSX Venture Exchange acceptance of the Debt Settlement. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plantify to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Plantify; the timing and availability of external financing on acceptable terms; and loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Plantify’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. The forward-looking information contained in this news release represents the expectations of Plantify as of the date of this news release and, accordingly, is subject to change after such date. Plantify expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Copyright (c) 2024 TheNewswire - All rights reserved.