Business
Plantify Foods Engages Consultants to Provide Advisory Services
Plantify Foods Engages Consultants to Provide Advisory Services Canada NewsWire...
About this update from Plantify Foods Inc
[{"type":"text","content":"\n \n \n \n Plantify Foods Engages Consultants to Provide Advisory Services\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 25, 2022\n \n \n /CNW/ - Plantify Foods, Inc. (TSXV: PTFY) (\"\n \n Plantify\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has engaged three arm's-length consultants (the \"\n \n Consultants\n \n \") to provide certain financial and capital markets advisory services (the \"\n \n Services\n \n \") to the Company, pursuant to consulting agreements effective as of\n \n November 9, 2022\n \n (the \"\n \n Agreements\n \n \").\n \n \n In consideration for the Services provided by two of the Consultants, the Company will pay such Consultants a fee of\n \n C$345,000\n \n each, payable in equal quarterly installments of\n \n C$45,000\n \n over the first 21 months of the applicable Agreements, with a final payment of\n \n C$30,000\n \n on the 23-month anniversary of the applicable Agreements; and in consideration for the Services provided by the third Consultant, the Company will pay such Consultant a fee of\n \n C$180,000\n \n , payable in equal quarterly installments over the 24-month term of the applicable Agreement (collectively, the \"\n \n Fees\n \n \"). In the Company's discretion, the Fees will be paid in cash, the issuance of common shares in the capital of the Company (the \"\n \n Common Shares\n \n \") or a combination thereof. For services already rendered, the Company has agreed to pay two of the Consultants a fee\n \n C$45,000\n \n each, satisfied through the issuance of an aggregate of 1,341,280 Common Shares at a price of\n \n $0.0671\n \n per Common Share.\n \n \n In respect of the Common Shares to be issued pursuant to the Agreements, the Company will issue such number of Common Shares as is equal to the quotient obtained by dividing the applicable amount due by the greater of (A) the 90-day...