(TheNewswire)
Mississauga, Ontario– The Newswire – August 9, 2022– PlantFuel Life Inc.(CSE:FUEL) (OTC:PLFLF) (FSE:BR1B) (“PlantFuel” or the“Company”) the scientifically focusedplant-based wellness company is pleased toannounce, that further to its press release dated August 4, 2022, ithas completed the first step of its partnership with GNC Ventures.
In connection with the partnership, the Company issuedissue a total of 5,000,000 performance warrants to GNC. Eachperformance warrant entitles the holder to purchase one common shareof the Company at a price of CAD$0.23 for a period of 5 years from thedate of issuance. The performance warrants will only becomeexercisable upon the achievement of certain milestones (with 1,050,000 of the performance warrants beingexercisable upon the Company having received US$1,500,000 in totalpurchases from GNC during calendar 2022, 1,850,000 of the performancewarrants being exercisable upon the Company having receivedUS$3,000,000 in total purchases from GNC during calendar 2023 and2,100,000 of the performance warrants being exercisable upon theCompany having received US$4,000,000 in total purchases from GNCduring calendar 2024). Additionally, the performance warrantscontain a feature that would permit the “net issuance” of thewarrants on a “cashless exercise” basis, based on the market priceof the Company’s at the time of the exercise.
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.
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 differ materially from thosecontemplated by these statements. PlantFuel undertakes no obligationto comment analyses, expectations or statements made by third partiesin respect of PlantFuel, its securities, or financial or operatingresults (as applicable). Although PlantFuel believes that theexpectations reflected in forward-looking statements in this pressrelease are reasonable, such forward-looking statements have beenbased on expectations, factors and assumptions concerning futureevents which may prove to be inaccurate and are subject to numerousrisks and uncertainties, certain of which are beyond PlantFuel’scontrol, including the risk factors discussed in PlantFuel’s ListingStatement dated August 22, 2019 which is available on PlantFuel’sSEDAR profile at www.sedar.com. The forward-looking informationcontained in this press release is expressly qualified by thiscautionary statement and are made as of the date hereof. PlantFueldisclaims any intention and has no obligation or responsibility,except as required by law, to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise.
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