~ Plant&Co is spinning out its Cannabis technology and True Focus assets to unlock shareholder value ~
Toronto, Ontario--(Newsfile Corp. - April 13, 2021) - Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTC PINK: VGANF) ("Plant&Co" or the "Company"), a modern health and wellness company curating delicious plant-based foods, is pleased to announce that it is proceeding with a corporate reorganization of assets by way of a plan of arrangement (the "Arrangement") to liberate the value of certain technology assets and its True Focus assets. Under the terms of the Arrangement currently being contemplated, the Company's technology business would be spun out as a separate publicly listed reporting issuer ("Newco").
"We have an opportunity to unlock additional shareholder value through the spinout of our cannabis related technology assets and other cannabis related assets into a public company," said Shawn Moniz, CEO of Plant&Co. "The new company will take ownership of cannabis related assets and the top tier cannabis clients, while Plant&Co will continue focus on expanding plant-based food products including Holy Crap breakfast cereals and YamChops franchise opportunities throughout North America."
Plant&Co plans to announce a record date in connection with the Arrangement in due course and anticipates the record date will occur within Q2 of 2021. It is expected that, upon closing of the Arrangement, each shareholder of the Company will receive common shares of Newco based on the amount of common shares of Plant&Co held on the record date.
There is no assurance that the Arrangement or the offering will proceed on these terms or at all. The Arrangement and the offering would be subject to customary approvals, including shareholder approval and regulatory approval, as applicable.
About Plant&Co
Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) is modern health and wellness company curating delicious plant-based foods. For more information please visit: www.PlantandCo.com.
About Holy Crap Foods Inc.
At Holy Crap Foods Inc. our mission is to create products that create a healthy gut through simple, quality ingredients that ultimately feed the connection between gut and mind. Holy Crap is an organic breakfast cereal for today's consumer that expects their food to work hard for them. Our great tasting cereal helps maintain a healthy gut which creates a happy mind. For more information on the healthy and high-quality breakfast cereals visit: www.HolyCrap.com.
About YamChops
YamChops is a plant-based butcher shop based in Toronto, Ontario. Vegans, vegetarians, flexitarians and even meat enthusiasts love visiting the beautifully curated shop located in the heart of Toronto's food district. Whether customers sample YamChops' Tunaless "Tuna", Chick*n Schnitzel, Szechuan "Beef", Montreal Style "Steak", or browse their vegan grocery market assisted by its knowledgeable staff, customers will have an unforgettable experience at YamChops vegan butcher shop. YamChops' mission is to provide extraordinary plant-based foods and provide extraordinary service to its customers, with a vision to expand its plant based culinary experience and make YamChops the destination of choice for all consumers. For more product information please visit: www.YamChops.com. Interested entrepreneurs can find more information regarding YamChops franchising opportunities by visiting: https://yamchops.com/pages/franchise.
For additional information, please contact:
Shawn Moniz
Chief Executive Officer
Plant & Co. Brands Ltd.
ir@plantandco.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Plant&Co. Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80254
