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Plant & Co. Brands Closes Oversubscribed Non-Brokered Private Placement

Toronto, Ontario–(Newsfile Corp. – December 14, 2020) – Plant & Co. Brands Ltd. (CSE: VEGN) (FSE: 3CMB) (OTC Pink: EURPF) (“Plant & Co.” or the “Company“), a vertically integrated enterprise focused on the health and wellness sector, is pleased to announce that it has closed its over-subscribed non-brokered private placement (the “Private Placement“) raising gross proceeds of $4,200,500 through the issuance of 21,002,500 units (the “Units“) at $0.20 per Unit.

Each Unit consists of one common share (a “Share“) and one transferable common share purchase warrant (a “Warrant“) with each Warrant exercisable into Shares of the Company at a price of $0.25 per Share for two (2) years from the date of closing of the Private Placement.

The Company intends to use the net proceeds from the Private Placement for merger and acquisition activities and opportunities in the plant-based food market and general working capital. With the global population growing rapidly, so is the demand for animal-protein alternatives, meat replacements and other non-animal plant-based industrial ingredients. Driven by consumers concerned with health, wellness and the global environment, there has been considerable cultural, health and environmental changes to create very favourable market conditions for the rise of plant-based protein.

While the total protein demand is expected to double by 2054, the market for alternative proteins, including plant-based proteins, is expected to also expect to grow at 14% annually and by 2024 make up approximately one third of the total protein market. The global plant-based protein market alone is significant and expected to reach almost US$11 billion by 2022 supported by a CAGR of 6.7% (source National Research Council Canada (2019 report)).

The Company paid finder’s fees of $88,375 cash and 631,750 finder’s warrants (the “Finder’s Warrants“) to Sprott Capital Partners LP, Echelon Wealth Partners ULC, Haywood Securities Inc., Canaccord Genuity Corp., EMD Financial Inc. and PI Financial Corp. The Finder’s Warrants are non-transferable and exercisable on the same terms as the Private Placement Warrants.

All securities issued are subject to a four-month hold period pursuant to securities laws in Canada. Shawn Moniz, CEO, Chairman and a director of the Company subscribed for 750,000 Units through his company, 1202103 BC Ltd.; Lindsay Hamelin, a director of the Company subscribed for 75,000 Units through her company, 1130970 BC Ltd., and Jerry Habuda, a director of the Company, subscribed for 50,000 Units. As such, their participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101″). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company’s market capitalization.

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