2022-11-25 14:00:00

Plantify Foods Engages Consultants to Provide Advisory Services

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Benzinga
By Pr Newswire

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Nov. 25, 2022 /CNW/ - Plantify Foods, Inc. PTFY (Plantify or the Company) is pleased to announce that it has engaged three arm's-length consultants (the Consultants) to provide certain financial and capital markets advisory services (the Services) to the Company, pursuant to consulting agreements effective as of November 9, 2022 (the Agreements).

In consideration for the Services provided by two of the Consultants, the Company will pay such Consultants a fee of C$345,000 each, payable in equal quarterly installments of C$45,000 over the first 21 months of the applicable Agreements, with a final payment of C$30,000 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 C$180,000, payable in equal quarterly installments over the 24-month term of the applicable Agreement (collectively, the Fees). In the Company's discretion, the Fees will be paid in cash, the issuance of common shares in the capital of the Company (the Common Shares) or a combination thereof. For services already rendered, the Company has agreed to pay two of the Consultants a fee C$45,000 each, satisfied through the issuance of an aggregate of 1,341,280 Common Shares at a price of $0.0671 per Common Share.

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