Each Convertible Debenture bears a face value of
The holder may, at its option, convert all or a portion of the aggregate Base Principal of each Convertible Debenture at any time prior to
The Company shall have the right to redeem the Convertible Debentures prior to the Maturity Date at any time after 6 months from the closing of the Private Placement, by paying holders the then outstanding Face Value of the Convertible Debentures together with all accrued and unpaid interest and a redemption penalty payment of 8% of the then outstanding Face Value, by cash payment on giving the holders 20 business days' notice (the 'Redemption Notice') to do so. On receipt of the Redemption Notice, a holder, may at its option, convert all or part of the then outstanding aggregate Base Principal of the Convertible Debenture into Units at the Conversion Price and all outstanding Prepaid Interest and any accrued and unpaid interest in respect of the Base Principal amount so converted shall be, at the election of the holder, either paid in cash or converted into Shares at the Interest Conversion Price, by giving the Company notice within 10 business days of receipt of the Redemption Notice.
The Convertible Debentures, Shares, Unit Shares, Warrants and any underlying securities of the Company issuable on conversion or exercise thereunder (collectively, the 'Securities') are subject to a hold period and may not be traded until
'We are pleased to have the continued support from the investment community as we execute on our business plan and look forward to continued momentum as we grow and innovate,' said
In consideration for arranging the Private Placement, the Company paid finder's fees of
Certain directors and officers of the Company have acquired Convertible Debentures for an aggregate Base Principal of
About The
Planting Hope develops, launches, and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope's award-winning and cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. The Planting Hope brand family includes award-winning Hope and Sesame Sesamemilk and Barista Blend Sesamemilk, Sesamilk creamers, RightRice Veggie Rice, Mozaics Real Veggie Chips, and Veggicopia Veggie Snacks. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company focused on nutrition, sustainability, and diversity.
Contact:
Tel: (773) 492-2243
Email: julia@plantinghopecompany.com
Forward-Looking Statements
Certain disclosure in this release, including the expected use of proceeds of the Private Placement, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors outside of the Company's control that may cause future results to differ materially from those expressed or implied in such forward-looking statements. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that all conditions precedent to the completion of the Private Placement will be satisfied in a timely manner; that general economic and business conditions will not change in a materially adverse manner and that the Company will be able to raise additional funds on reasonable terms. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that any forward-looking statement herein will prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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