Business
Plantify Foods Engages Generation IACP Inc. to provide Market Making Services
(TheNewswire) Vancouver, British Columbia – TheNewswire – May 11, 2023&#x...
About this update from Plantify Foods Inc
[{"type":"text","content":"Plantify Foods Engages Generation IACP Inc. to provide Market Making 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\nColumbia\n \n \n – TheNewswire – May 11, 2023—\nPlantify Foods, Inc. (TSXV:PTFY) (\"\n \n \n Plantify Foods\n \n \n \"\nor the \"\n \n \n Company\n \n \n \") is pleased to announce it has\nretained Generation IACP Inc. (\"\n \n \n Generation\n \n \n \") to\nprovide market making services with the objective of maintaining a\nreasonable market and improving the liquidity of Plantify Foods’s\ncommon shares.\n \n \n \n \n Under the agreement between Generation and the Company\n(the \"\n \n \n Generation Agreement\n \n \n \") dated May 4,\n2023, the Company has agreed to initially pay Generation a fee of\n$7,500 plus applicable taxes, per month. Generation will not receive\nany common shares or options as compensation. The initial term of the\nGeneration Agreement will last 6 months, and such term will be\nautomatically renewed for subsequent 6-month periods unless terminated\nearlier by\n \n \n \n \n 30\ndays\n \n \n prior written notice. Notwithstanding the\nforegoing, Generation shall have the right to terminate the agreement\nat any time upon prior written notice. On the first anniversary of the\nagreement, the fee payable to Generation will automatically increase\nannually by 3.0 per cent.\n \n \n \n \n Plantify Foods and Generation are unrelated and\nunaffiliated entities. Generation is based in Toronto, Ontario and is\na member of the Investment Industry Regulation Organization of Canada\nand a member firm of the Toronto Stock Exchange and the TSX-V.\n \n \n \n \n Generation has informed the Company that it does not\ncurrently own any securities of Plantify Foods; however, Generation\nand its clients may acquire a direct interest in the securities of the\nCompany.\n \n \n \n \n Generation’s market making activity will primarily\ncontribute to market liquidity of the company’s shares. Generation\nwill be responsible for the costs it incurs in buying and selling the\ncompany’s shares. No third party will be providing funds or\nsecurities for the market making activities.\n \n \n \n \n The costs of the activities under the agreement with\nGeneration w...