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Planet Based Foods partners with various grocery outlets and announces on private placement

(CNW) Vancouver — Planet Based Foods Global Inc., a company that offers a wide range of hemp-based food alternatives, is pleased to announce that the company’s Original with Cheese Taquitos and Southwest Style Taquitos will be found across various Lazy Acres Natural Market, New Leaf Community Markets and Lunardi’s Markets store locations this month.

Lazy Acres, a subsidiary of Bristol Farms, is dedicated to promoting natural approaches to optimal health and wellness. Their extensive product range encompasses organic and seasonal produce, traditional items, functional supplements, and body care, all aimed at supporting the well-being of the mind, body, and soul. The friendly, knowledgeable, and enthusiastic Team Members at Lazy Acres are unwavering in their commitment to providing exceptional service and wellness tips while meeting the diverse needs of customers. Embracing the belief that collective actions contribute to a healthier planet, Lazy Acres is devoted to serving local communities as a marketplace for individuals who prioritize healthy living and eating — a set of values that aligns seamlessly with the principles of Planet Based Foods. Planet Based Foods’ Original with Cheese Taquitos and Southwest Style Taquitos will be found across 17 Lazy Acres locations starting this month.

New Leaf Community Markets is a grocery store chain primarily located in Northern California. It’s known for its commitment to natural and organic products, featuring a wide array of locally sourced and sustainably produced goods. New Leaf emphasizes healthy living and offers an extensive selection of organic produce, natural foods, supplements, and eco-friendly household items. The stores often prioritize community involvement, supporting local farmers and hosting events focused on wellness and sustainability. New Leaf Community Markets strives to be a destination for those seeking organic and environmentally conscious products in their shopping experience. Planet Based Foods’ Original with Cheese Taquitos and Southwest Style Taquitos will be found across five New Leaf locations starting this month.

Lunardi’s Markets is a family-owned grocery store chain primarily located in Northern California, specifically in the San Francisco Bay Area. It’s known for its high-quality produce, fresh meats, bakery items, specialty foods, and a wide selection of grocery items. Lunardi’s Markets often emphasize a commitment to offering fresh and locally sourced products, including a variety of gourmet and hard-to-find items. They aim to provide a premium shopping experience with a focus on quality and customer service. Planet Based Foods’ Original with Cheese Taquitos and Southwest Style Taquitos will be found across eight Lunardi’s locations starting this month.

“We’re happy to be disrupters in the culinary landscape,” said Braelyn Davis, CEO and co-Founder of Planet Based Foods. “I’m happy that Planet Based Foods can remain at the forefront of food technology with our hemp-formulated superfood products. Our goal was to get our products out to the masses, and with our strategic partnerships in place, we’re achieving just that. The best of all, the feedback for our products has been fantastic.”

The company is pleased to announce a non-brokered private placement of subordinate voting shares at a price of $0.10 per share for gross aggregate proceeds of up to CAD $3,000,000. All securities issued in connection with the offering will be subject to a hold period of 4 months plus one day from the date of closing of the offering.

The net proceeds of the offering will be used for general working capital and corporate purposes. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including the approval of the Canadian Securities Exchange (CSE).

The company has entered into a loan agreement for total proceeds of CAD$200,000 with an arm’s length party on December 1, 2023.

Pursuant to the loan agreement, the loan is secured against the assets of the company and will bear interest at a rate of 10 per cent per annum, payable by the company to the lender monthly until full repayment for a term of three months. Upon maturity of the loan, all outstanding principal and interests shall be payable on February 28, 2024, unless extended in writing by mutual agreement of the lender and the company. The company may repay the loan in full at any time prior to the end of the term.