(TheNewswire)
Mississauga, Ontario – The Newswire – October 19, 2022 – PlantFuel Life Inc. (CSE:FUEL)(OTC:PLFLF) (FSE:BR1B) (“PlantFuel” or the“Company”) the scientifically focusedplant-based wellness company announces that itintends to complete a private placement (the“ PrivatePlacement ”) of up to 12,500,000 units (the“ Units ”) at a price of $0.08 per Unit for gross proceeds of up to$1,000,000.
Each Unit will be comprised of one common share (each a“ Share ”) and one-half of one common share purchase warrant (eacha “ Warrant ”) with each whole Warrant entitling the holder to purchaseone additional Share of the Company at a price of $0.20 per Share fora period of 36 months from the date of issuance. In the event that the Company’s common shares have aclosing price on the CSE (or such other exchange on which the CommonShares may be traded at such time) of greater than $0.30 per commonshare for a period of 10 consecutive trading days, the Company mayaccelerate the expiry date of the Warrants by giving notice to theholders thereof and, in such case, the Warrants will expire on the30th day after the date on which such notice is given to the holder bythe Company.
The Shares and Warrants issued will be subject to afour month hold period pursuant to securities laws in Canada.
The use of proceeds will be for working capital and forthe re-launch of the PlantFuel brand with GNC in December.
About PlantFuel Life Inc.
PlantFuel Life Inc. is a scientifically focused,plant-based wellness company managed by successful entrepreneurs withextensive experience in the areas of consumer-packaged goods,manufacturing, logistics, and distribution. https://plantfuellife.com/
The Canadian Securities Exchange ("CSE") hasneither approved nor disapproved the contents of this news release.Neither the CSE nor its Market Regulator (as that term is defined inthe policies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.
This news release does not constitutean offer to sell or a solicitation of an offer to buy any of thesecurities in the United States. The securities have not been and willnot be registered under the United States Securities Act of 1933, asamended (the "U.S. Securities Act") or any state securitieslaws and may not be offered or sold within the United States or toU.S. persons unless registered under the U.S. Securities Act andapplicable state securities laws or an exemption from suchregistration is available.
Forward ? Looking Information Cautionary Statement
This press release may contain certain“forward-looking information” and “forward-looking statements”within the meaning of applicable Canadian securities legislation. Allinformation contained herein that is not historical in nature mayconstitute forward-looking information. Forward-looking statements maybe identified by statements containing the words “believes”,“anticipates”, “plans”, “intends”, “will”,“should”, “expects”, “continue”, “estimate”,“forecasts” and other similar expressions. Forward-lookingstatements herein include, but are not limited to, expectations ofmanagement’s focus on and growth expectations of the PlantFuel brandand the Company’s business and strategic plans. Readers arecautioned to not place undue reliance on forward-looking information. Actual results and developments may differmaterially from those contemplated by these statements. PlantFuelundertakes no obligation to comment analyses, expectations orstatements made by third parties in respect of PlantFuel, itssecurities, or financial or operating results (as applicable).Although PlantFuel believes that the expectations reflected inforward-looking statements in this press release are reasonable, suchforward-looking statements have been based on expectations, factorsand assumptions concerning future events which may prove to beinaccurate and are subject to numerous risks and uncertainties,certain of which are beyond PlantFuel’s control, including the riskfactors discussed in PlantFuel’s Listing Statement dated August 22,2019 which is available on PlantFuel’s SEDAR profile atwww.sedar.com. The forward-looking information contained in this pressrelease is expressly qualified by this cautionary statement and aremade as of the date hereof. PlantFuel disclaims any intention and hasno obligation or responsibility, except as required by law, to updateor revise any forward-looking information, whether as a result of newinformation, future events or otherwise.
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