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Planet Based Foods Global Inc. Announces Execution of Definitive Agreements for Related Party Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the "Company") announces that, further to its news release of August 18, 2025 announcing the execution of binding term sheets with Baron Global Financial Canada Ltd. ("Baron") and Coenda Investments Holding Corp. ("Coenda"), it has now executed definitive debt settlement agreements (the "Debt Settlement Agreements") with each of Baron and Coenda to settle ...
About this update from Planet Based Foods Global, Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the "Company") announces that, further to its news release of August 18, 2025 announcing the execution of binding term sheets with Baron Global Financial Canada Ltd. ("Baron") and Coenda Investments Holding Corp. ("Coenda"), it has now executed definitive debt settlement agreements (the "Debt Settlement Agreements") with each of Baron and Coenda to settle an aggregate of $800,000 of bona fide debt (the "Debt") through the issuance of subordinate voting shares of the Company (the "Shares").","length":693,"tagName":"p"},{"type":"text","content":"Terms of the Debt Settlement Agreements","length":39,"tagName":"p"},{"type":"text","content":"Under the Debt Settlement Agreements, the Debt will be satisfied by the issuance of Shares at a deemed price of $0.0525 per Share, representing a 25% discount to the closing price of the Company's Shares on the Canadian Securities Exchange ("CSE") on the last trading day prior to this announcement, August 19, 2025. The Company expects to issue a total of 15,238,094 Shares as follows:","length":400,"tagName":"p"},{"type":"text","content":"- 9,523,809 Shares to Coenda in full and final settlement of $500,000 of indebtedness; and,","length":91,"tagName":"p","attribs":{}},{"type":"text","content":"- 5,714,285 Shares to Baron in full and final settlement of $300,000 of indebtedness.","length":85,"tagName":"p","attribs":{}},{"type":"text","content":"The Shares will be subject to a four-month hold period under applicable Canadian securities laws. The Company expects to complete the issuance of Shares on or about August 28, 2025. Completion of the Debt Settlement Agreements will be subject to receipt of and all necessary regulatory approvals, including, if required, conditional approval by the CSE.","length":353,"tagName":"p"},{"type":"text","content":"Strengthening the Balance Sheet","length":31,"tagName":"p"},{"type":"text","content":"The Debt Settlement Agreements represent a significant step in improving the Company's financial position. By extinguishing $800,000 of debt without the use of cash, the Company strengthens its balance sheet and positions itself to focus resources on growth in...