Else Nutrition

PlantFuel Completes Non-Brokered Private Placement

09 August 2021

PlantFuel Life Inc. (CSE:FUEL) (OTC:BLLXF) (FSE:BR1B) (CNSX:FUEL.CN) (“PlantFuel” or the “Company”) is pleased to announce that, further to its press releases dated July 27, 2021 and July 29, 2021, it has completed a non-brokered private placement (the “Private Placement”) of 12,000,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of $3,000,000.  Each Unit was comprised of one common share (each a “Share”) and one-half of one common share purchase warrant (each a “Warrant”).  Each whole Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.40 per Share for a period of 18 months from the date of issuance.

The Company paid cash finder’s fees to certain registered dealers of up to 6% of the proceeds derived from subscriptions introduced to the Company under the Private Placement. The Shares and Warrants are subject to a statutory hold period until the date that is four months and one day from the date of issuance.

The Company intends to use the proceeds from the Private Placement to support its GNC launch and for general working capital.

For additional information contact:

PlantFuel Life Inc.

E:  This email address is being protected from spambots. You need JavaScript enabled to view it.

About PlantFuel

PlantFuel Life Inc. is a scientifically focused, plant-based wellness company managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. FUEL is a CPG life science company focused on the plant-based foods and supplements industry. www.plantfuel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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, statements regarding the receipt of required regulatory approvals, including the Canadian Securities Exchange, the anticipated use of proceeds therefrom, 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 statement has 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.

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