Business
Plantify Foods Announces Closing of Shares for Debt Settlement
(TheNewswire) Vancouver, British Columbia – TheNewswire – January 10, 2025 - ...
About this update from Plantify Foods Inc
[{"type":"text","content":"Plantify Foods Announces Closing of Shares for Debt Settlement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\nTheNewswire – January 10, 2025 -\n \n\n Plantify\nFoods, Inc.\n \n\n (TSXV:\nPTFY)\n \n\n (\"\n \n\n Plantify\n \n\n \" or the\n\"\n \n\n Company\n \n\n \") reports that, further to its news release of December\n23, 2024, it has today issued 1,141,270 common shares in the capital\nof the Company (the “\n \n\n Settlement Shares\n \n\n ”) to YA II PN, Ltd. (the\n“\n \n\n Creditor\n \n\n ”), at a deemed price of $0.558 per Settlement Share, in\nfull settlement of, in aggregate,\n \n\n\n\n $636,829 in outstanding debt\n \n\n (the “\n \n\n Debt\n \n\n ”), pursuant to the terms of a debt\nsettlement agreement dated December 22, 2024 between the Company and\nthe Creditor.\n \n\n\n\n The Settlement Shares are subject to a hold period and\nmay not be traded until May 11, 2025.\n \n\n\n\n Early Warning Disclosure\n \n\n\n\n The disclosure in this section is the sole\nresponsibility and is published at the request of N2OFF, Inc.\n(“\n \n\n N2OFF\n \n\n ”), pursuant to its disclosure obligations under National\nInstrument 62-103\n \n\n The Early\nWarning System and Related Take-Over Bid and Insider Reporting\nIssues\n \n\n (“\n \n\n NI 62-103\n \n\n ”).\n \n\n\n\n The requirement to provide this disclosure was\ntriggered by the Settlement Shares issued to the Creditor on January\n10, 2025 of 1,141,270\n \n\n settlement Shares\n \n\n at a deemed price of\n \n\n $0.558 per Settlement Share\n \n\n , being an\naggregate deemed purchase price of\n \n\n $636,829\n \n\n .\n \n\n\n\n Immediately prior to the Acquisition, N2OFF\nbeneficially owned 2,845,891 common shares in the capital of the\nCompany (the “\n \n\n Common\nShares\n \n\n ”), representing approximately 27.6% of\nthe issued and outstanding Common Shares. Immediately following the\nSettlement shares issuance, N2OFF beneficially owned 2,845,891 Common\nShares, representing approximately 24.9% of the issued and outstanding\nCommon Shares; a decrease in N2OFF’s aggregate ownership of the\nissued and outstanding Common Shares of approximately 2.7%.\n \n\n\n\n N2OFF may from time to time acquire additio...