Mississauga, Ontario – TheNewswire – July 27, 2021 – PlantFuel Life Inc. (CSE:FUEL) (CNSX:FUEL.CN) (OTC:BLLXF) (FSE:BR1B) (“PlantFuel” or the “Company”) announces that it intends to complete a private placement (the “Private Placement”) of up to 10,000,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of up to $2,500,000.
Each Unit will be comprised of one common share (each a “Share”) and one-half of one common share purchase warrant (each a “Warrant”) with each whole Warrant entitling the holder 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 Shares and Warrants issued will be subject to a four month hold period pursuant to securities laws in Canada.
Brad Pyatt, founder of PlantFuel, said “In addition to the credit line facility we announced previously, our management team is excited to secure this equity financing to drive our business forward.”
The Company intends to use the proceeds from the Private Placement to support its GNC launch and for general working capital.
For additional information contact:
PlantFuel Life Inc.
PlantFuel Life Inc. is a scientifically focused, plant-based wellness company managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer packaged goods, manufacturing, logistics, and distribution. FUEL is a CPG life science company focused on the plant-based foods and supplements industry. www.plantfuel.com.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
The securities referred 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 for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
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