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(via TheNewswire)
Vancouver, British Columbia – TheNewswire – August 9, 2024 - Plantify Foods, Inc. (TSXV: PTFY) ("Plantify" or the "Company"), a clean label food company dedicated to providing consumers with nutritious and delicious food options, is pleased to make the following announcements:
Annual General Meeting of Shareholders
The annual general meeting of the shareholders of the Company (the “Meeting”) will take place at 10:00 am PDT on Tuesday September 10, 2024 at the offices of Owen Bird Law Corporation, 733 Seymour Street, Suite 2900, Vancouver BC.
The materials for the Meeting, including the management information circular, which sets out in detail the annual and special business proposed for shareholder approval, have been distributed to Plantify shareholders and can also be found at the Company’s profile on SEDAR+: www.sedarplus.ca, or at the Company’s website: https://plantifyfoods.com/investors/.
Share Consolidation
At the Meeting, shareholders of the Company will be asked to approve a consolidation of the outstanding common shares of the Company (the "Consolidation") on the basis of up to 1,000 pre-consolidation common shares for each one post-consolidation common share, with the specific Consolidation ratio to be determined by the board of directors of the Company (the “Board”).
The Company has submitted an application to Nasdaq Stock Market (“Nasdaq”) for listing of the common shares of the Company on Nasdaq. The Company intends to undertake the Consolidation in order to meet Nasdaq listing requirements as to the market price of securities to be listed.
The Company’s name will not be changed in conjunction with the Consolidation.
If shareholders approve the Consolidation and the Board determines to proceed with the Consolidation at the maximum ratio, the presently issued and outstanding 378,736,746 common shares will be consolidated into approximately 378,736 common shares.
Notwithstanding any approval of the shareholders of the Company to the Consolidation, the Board may, without further action on the part of the shareholders, determine not to implement the Consolidation.
The Consolidation is also subject to approval by the TSX Venture Exchange.
About Plantify Foods
Plantify is committed to providing consumers with nutritious, clean label food options while pioneering innovation in the food and beverage industry. The Company has a simple mission: to ensure that everyone has access to high quality food alternatives that are clean and healthy, are nutritious and tasty, use whole natural ingredients, and are easy to prepare.
Plantify, through its wholly owned Israeli subsidiary, currently sells its diverse range of products in Israel, and is actively expanding its footprint across Europe and North America.
If you have any questions or need more information, feel free to contact the Company directly.
Contacts:
Gabriel Kabazo
Chief Financial Officer and Corporate Secretary
Phone: (778) 601-8420
Investor Relations
Email: [email protected]
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 completion of the Consolidation, the Consolidation ratio, receipt of regulatory approvals to the Consolidation, and the Company’s ability to meet Nasdaq listing requirements. 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 the effect of the Consolidation upon the market price of the common shares. 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.
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