(TheNewswire)
Mississauga, Ontario – TheNewswire - August 9, 2021 – PlantFuel Life Inc. (CSE:FUEL) (OTC:BLLXF)(FSE:BR1B) (CNSX:FUEL.CN) (“PlantFuel” or the “Company”) ispleased to announce that, further to its press releases dated July 27,2021 and July 29, 2021, it has completed a non-brokered privateplacement (the “ Private Placement ”)of 12,000,000 units (the “ Units ”) at a price of $0.25 per Unit forgross proceeds of $3,000,000. Each Unit was comprised of one commonshare (each a “ Share ”) and one-half of one common sharepurchase warrant (each a “ Warrant ”). Each whole Warrant entitles theholder to purchase one additional Share of the Company at a price of$0.40 per Share for a period of 18 months from the date of issuance.
The Company paid cash finder’s fees to certainregistered dealers of up to 6% of the proceeds derived fromsubscriptions introduced to the Company under the Private Placement.The Shares and Warrants are subject to a statutory hold period untilthe date that is four months and one day from the date of issuance.
The Company intends to use the proceeds from thePrivate Placement to support its GNC launch and for general workingcapital.
For additional informationcontact:
PlantFuel Life Inc.
About PlantFuel
PlantFuel Life Inc. is a scientifically focused,plant-based wellness company managed by a group of successfulentrepreneurs who have extensive experience in the areas ofconsumer-packaged goods, manufacturing, logistics, and distribution.FUEL is a CPG life science company focused on the plant-based foodsand supplements industry. www.plantfuel.com .
The CSE has neither approved nor disapproved thecontents of this news release. Neither the CSE nor its RegulationServices Provider (as that term is defined in the policies of the CSE)accepts responsibility for the adequacy or accuracy of thisrelease.
The securitiesreferred to in this news release have not been, nor will they be,registered under the United States Securities Act of 1933, as amended,and may not be offered or sold within the United States or to, or forthe account or benefit of, U.S. persons absent U.S. registration or anapplicable exemption from the U.S. registration requirements.
This news releasedoes not constitute an offer for sale of securities for sale, nor asolicitation for offers to buy any securities. Any public offeringof securities in the United States must be made by means of aprospectus containing detailed information about the company andmanagement, as well as financial statements.
Forward?Looking InformationCautionary 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, statementsregarding the receipt of required regulatory approvals, including theCanadian Securities Exchange, the anticipated use of proceedstherefrom, and the Company’s business and strategic plans. Readersare cautioned to not place undue reliance on forward-lookinginformation. Actual results and developments may differ materially from those contemplated by these statements.PlantFuel undertakes no obligation to comment analyses, expectationsor statements 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 statement has been based on expectations, factors andassumptions concerning future events which may prove to be inaccurateand are subject to numerous risks and uncertainties, certain of whichare beyond PlantFuel’s control, including the risk factors discussedin PlantFuel’s Listing Statement dated August 22, 2019 which isavailable on PlantFuel’s SEDAR profile at www.sedar.com. Theforward-looking information contained in this press release isexpressly qualified by this cautionary statement and are made as ofthe date hereof. PlantFuel disclaims any intention and has noobligation or responsibility, except as required by law, to update orrevise any forward-looking information, whether as a result of newinformation, future events or otherwise.
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