Plantify Foods Announces Successful Closing of Rights Offering

About this update from Plantify Foods Inc

[{"type":"text","content":"Plantify Foods Announces Successful Closing of Rights Offering\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 \n \n \n \n Vancouver, British Columbia -\nTheNewswire - September 18, 2023 -\n \n \n Plantify\nFoods, Inc.\n \n \n (TSXV:PTFY)\n \n \n (\"\n \n \n Plantify Foods\n \n \n \"\nor the \"\n \n \n Company\n \n \n \")\n \n \n , a clean\nlabel food company dedicated to providing consumers with nutritious\nand natural food options,\n \n \n announces the\ncompletion of its previously announced\n \n \n \n \n rights\noffering\n \n \n \n \n (the “\n \n \n Rights Offering\n \n \n ”)\nto eligible holders of its common shares (the “\n \n \n Shares\n \n \n ”) which\nexpired at 2:00 p.m. (Pacific Time) on September 15, 2023 (the\n“\n \n \n Expiry Date\n \n \n ”).\n \n \n \n \n The Company issued a total of 183,555,707 Shares at a\nprice of $0.01 per Share for aggregate gross proceeds of\n$1,835,557.07. A total of 106,734,426 Shares were issued under the\nbasic subscription privilege, including 52,445,385 Shares to insiders\nof the Company, as a group (the “\n \n \n Insider Group\n \n \n ”),\nand 54,289,041 Shares to all other persons, as a group. In addition, a\ntotal of\n \n \n 76,821,281 Shares were issued under the\nadditional subscription privilege, including 26,158,964 Shares to the\nInsider Group and 50,662,317 Shares to all other persons, as a group.\nTo the knowledge of the Company, no person became an insider of\nPlantify Foods as a result of the Rights Offering.\n \n \n \n \n Suzette Ramcharan, CEO of Plantify Foods commented,\n“We are very pleased with the participation levels in the Rights\nOffering and thank all participants for their continued support. The\nadditional funds have strengthened the balance sheet so that we can\nachieve our immediate goals, seeking continued growth in new markets,\nand creating more visibility for the Company and our\nmission.”\n \n \n \n \n As of the Expiry Date, following completion of the\nRights Offering, Plantify Foods has 367,551,604 Shares issued and\noutstanding. The Rights Offering remains subject to receipt of final\nacceptance of the TSX Venture Exchange.\n \n \n \n \n No fees or commissions were paid by the Company in\nconnection...

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