SVFD - InvestorNewsBreaks - Save Foods Inc. (NASDAQ: SVFD) (FSE: 80W) Acquires Direct Ownership of 30004349 Common Shares of Plantify Foods Inc. (TSX.V: PTFY)
Save Foods (NASDAQ: SVFD) (FSE: 80W), an agri-food tech company specializing in eco-crop protection that helps to reduce food waste and ensure food safety while reducing the use of pesticides, today announced that it has acquired direct ownership of common shares in the capital of Plantify Foods (TSX.V: PTFY) in the amount of 30,004,349 common shares. Plantify’s head office is located at 2264 East 11th Avenue, Vancouver, British Columbia, V5N 1Z6, and its common shares trade on the TSX Venture Exchange under the symbol PTFY. The acquisition was completed pursuant to a securities exchange agreement between the companies, dated March 31, 2023, at a purchase price of CAD$0.05 per common share acquired in exchange for 1,164,374 shares of common stock of Save Foods. Immediately prior to the acquisition, Save Foods did not own or exercise control or direction over any securities of Plantify. As a result of the acquisition, Save Foods exercises control or direction over 19.99% of the total number of Plantify’s issued and outstanding common shares.
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About Save Foods Inc.
Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agri-food tech industry: food waste and loss and food safety. The company is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops new solutions that benefit the entire supply chain and improve the safety and quality of life of both workers and consumers alike. Its initial applications are in post-harvest treatments in fruit and vegetable packing houses processing produce including citrus, avocado, pears, apples and mangos. By controlling and preventing pathogen contamination and significantly reducing the use of hazardous chemicals and their residues, Save Foods’ treatments not only prolong fresh produce shelf life and reduce food loss and waste, but they also ensure a safe, natural and healthy product. For more information, visit the company’s website at www.SaveFoods.co.
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