Business
Plantify Foods Engages Consultant to Provide Advisory Services
(TheNewswire) Vancouver, British Columbia - TheNewswire - September 1, 2023 - Plantify ...
About this update from Plantify Foods Inc
[{"type":"text","content":"Plantify Foods Engages Consultant to Provide Advisory Services\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 - September 1, 2023 -\n \n \n Plantify\nFoods, Inc.\n \n \n (TSXV:PTFY)\n \n \n (\"\n \n \n Plantify\n \n \n Foods\n \n \n \" or the \"\n \n \n Company\n \n \n \"), a clean label food company\ndedicated to providing consumers with nutritious and natural food\noptions, is pleased to announce that it has engaged an arm’s-length\nconsultant (the “\n \n \n Consultant\n \n \n ”) to provide certain financial\nand capital markets advisory services (the “\n \n \n Services\n \n \n ”) to the\nCompany, pursuant to a consulting agreement effective as of September\n1, 2023 (the “\n \n \n Agreement\n \n \n ”).\n \n \n \n \n In consideration for the Services to be provided by the\nConsultant, the Company will pay a fee of C$180,000, payable in equal\nquarterly installments over the 24-month term of the Agreement\n(collectively, the “\n \n \n Fees\n \n \n ”). In the Company’s discretion, the\nFees will be paid in cash or in common shares of the Company (the\n“\n \n \n Common Shares\n \n \n ”), or a combination thereof.\n \n \n \n \n The Company also reports that it has extended an\nexisting consulting agreement with a different arm’s-length\nconsultant (refer to the Company’s news release of November 25,\n2022). The term of that agreement was to end in November 2024 but has\nbeen extended to August 2025. In consideration for the services\nprovided by such consultant, the Company will pay a fee of C$66,750 in\nequal quarterly installments over the 9-month extended term\n(collectively, the “\n \n \n Extension Fees\n \n \n ”). In the Company’s\ndiscretion, the Extension Fees will be paid in cash or in Common\nShares, or a combination thereof.\n \n \n \n \n If the Company elects to pay Fees or Extension Fees in\nCommon Shares, the number of Common Shares issuable will be equal to\nthe quotient obtained by dividing the applicable amount of Fees or\nExtension Fees by the greater of (A) the 90-day volume weighted\naverage trading price of the Common Shares on the TSX Venture Exchange\n(the “\n ...