Mississauga, Ontario – TheNewswire – November 21, 2022 – PlantFuel Life Inc. (CSE:FUEL) (OTC:PLFLF) (FSE:BR1B) (“PlantFuel” or the “Company”) the scientifically focused plant-based wellness company announces that it intends to complete a private placement (the “Private Placement”) of up to a total of 18,750,000 units (the “Units”) at a price of $0.08 per Unit for gross proceeds of up to $1,500,000 (which includes the 7,777,500 Units for aggregate gross proceeds of $622,200 that the Company closed on October 31, 2022).
Each Unit will be comprised of one common share (each a “Share”) and one-half of one common share purchase warrant (each a “Warrant”) with each whole Warrant entitling the holder to purchase one additional Share of the Company at a price of $0.20 per Share for a period of 36 months from the date of issuance. In the event that the Company’s common shares have a closing price on the CSE (or such other exchange on which the Common Shares may be traded at such time) of greater than $0.30 per common share for a period of 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and, in such case, the Warrants will expire on the 30th day after the date on which such notice is given to the holder by the Company.
The Shares and Warrants issued will be subject to a four month hold period pursuant to securities laws in Canada.
The use of proceeds will be used for working capital for the business and for the re-launch of PlantFuel brand in GNC in December.
About PlantFuel Life Inc.
PlantFuel Life Inc. is a scientifically focused, plant-based wellness company managed by successful entrepreneurs with extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. https://plantfuellife.com/
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.Contact information:
Brad Pyatt CEO
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1-888-630-6938
Forward‐Looking Information Cautionary Statement
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Forward-looking statements herein include, but are not limited to, expectations of management’s focus on and growth expectations of the PlantFuel brand and the Company’s business and strategic plans. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. PlantFuel undertakes no obligation to comment analyses, expectations or statements made by third parties in respect of PlantFuel, its securities, or financial or operating results (as applicable). Although PlantFuel believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond PlantFuel’s control, including the risk factors discussed in PlantFuel’s Listing Statement dated August 22, 2019 which is available on PlantFuel’s SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. PlantFuel disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
