Komo Plant Based Foods Announces Non-Brokered Private Placement

Komo Plant Primarily based Meals Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) (“Komo” or the “Corporate”) is happy to announce a non-public placement providing (the “Providing”) of as much as 1,000 devices of the Corporate (“Gadgets”) at a worth of $1,000 consistent with Unit, for gross proceeds of as much as $one million. Each and every Unit will include (i) a convertible unsecured debenture (the “Debenture”); and (ii) 16,000 commonplace percentage acquire warrants of the Corporate (“Warrants”). The Debentures will undergo passion at a charge of 10% consistent with annum on an accrual foundation from issuance, calculated and payable semi-annually in arrears on Would possibly 31 and November 30 of every yr with such cost taking off on November 30, 2022 with a redemption date this is 24 months from issuance (the “Adulthood Date”). Passion is also paid in fairness at a fifteen% bargain to marketplace on the choice of the holder. The Debentures will likely be convertible in complete or partly, on the holders’ choice, into commonplace stocks within the capital of the Corporate at a fifteen% bargain to the 30 day shifting moderate as on the Adulthood Date, topic to CSE rules, at a worth no longer not up to $0.05 consistent with percentage (the “Conversion Value”), at any time previous to their redemption. Each and every Warrant will entitle the holder thereof to procure one commonplace percentage of the Corporate at a worth of $0.07 consistent with percentage for a duration of 36 months from the date of factor.

The Corporate shall pay finders a money fee equivalent to eight% of the gross proceeds of the Providing. As well as, the Corporate will grant finders such quantity commonplace percentage acquire warrants as is the same as 8% of the gross proceeds from the Providing, with every such warrant exercisable to buy one commonplace percentage of the Corporate on the Conversion Value for a duration of 24 months from the date of factor.

It’s expected that the Gadgets will likely be eligible for RRSP, RESP, RRIF, TFSA and DPSP accounts throughout the that means of the Source of revenue Tax Act (Canada) topic to positive {qualifications}, and will likely be topic to a statutory grasp duration expiring 4 months and in the future from the remaining date. The Gadgets will likely be presented and offered via non-public placement in Canada to “accepted buyers” throughout the that means of NI 45-106 – Prospectus Exemptions and different exempt shoppers below the appropriate securities regulations.

Use of proceeds from the Providing will likely be for retail list charges, US dealer charges, worker and control reimbursement, and further operating capital.

Ultimate of the Providing is topic to the delight of commonplace stipulations. The Providing is anticipated to be finished in more than one tranches.

All quantities are in Canadian bucks. The online proceeds from the Providing will likely be used for advertising and marketing, scaling up manufacturing, salaries and gross sales growth right through Canada and the USA.

About Komo

Komo Plant Primarily based Meals Inc. is a top class plant-based meals corporate that develops, manufactures and sells numerous plant-based frozen foods which are at all times hearty, pleasurable, and made with healthy components. At Komo, our project is to help in making plant-based foods a staple on each and every dinner desk via sharing our love for feel-good meals that connects the folks to the planet. We consider plant-based consuming is the long run and Alternate can get started with a unmarried biteTM. Our skilled plant-based innovation and building staff recreates vegan variations of historically tacky and meaty classics, with 100% vegetation. Komo’s merchandise are offered direct-to-consumer via our eCommerce website online and a distribution community of on-line and brick and mortar grocery, comfort and herbal store channels. Our working subsidiary Komo Convenience Meals introduced in 2021 with our flagship merchandise: plant-based Lasagna, Shepherd’s Pie and Chickenless Pot Pie and Komo Plant-Primarily based Meal HelpersTM – flexible meal starters to permit the advent of many dishes at house. All of our merchandise are 100% plant-based, made with healthy components, loose from preservatives, and frozen for freshness. Komo’s plant-based lasagna used to be awarded the Easiest New Vegan Product on the Herbal Merchandise Expo West Display in March 2022.

Be informed extra at: www.komocomfortfoods.com and observe on Instagram: @komocomfortfoods

For additional knowledge, please touch:

William White, President & CEO, Komo Plant Primarily based Meals Inc.

The Canadian Securities Change has no longer reviewed, licensed or disapproved the contents of this information unencumber.

This information unencumber does no longer represent an be offering to promote, or the solicitation of an be offering to shop for securities in any jurisdiction by which such be offering or solicitation can be illegal previous to registration or qualification below the securities regulations of such jurisdiction.

The securities described herein have no longer been, and is probably not, registered below the USA Securities Act of 1933, as amended (the “Securities Act”), or the securities regulations of any state of the USA, and might not be presented or offered in the USA or to, or for the account or advantage of, any U.S. Particular person (as outlined in Legislation S of the Securities Act) or an individual in the USA, until an exemption from such registration necessities is to be had.

Cautionary Commentary Referring to Ahead-Having a look Statements

Positive statements contained on this press unencumber represent forward-looking knowledge. Those statements relate to long run occasions or Komo’s long run efficiency. The usage of any of the phrases “may”, “be expecting”, “consider”, “will”, “projected”, “estimated” and an identical expressions and statements in the case of issues that don’t seem to be historic information are meant to spot forward-looking knowledge and are in line with Komo’s present trust or assumptions as to the end result and timing of such long run occasions. Exact long run effects would possibly fluctuate materially. Specifically, Komo’s talent to retain key group of workers, its revenues, and its expectation as to the acceptance of its merchandise via store retail outlets and shoppers represent forward-looking knowledge. Exact effects and traits would possibly fluctuate materially from the ones pondered via forward-looking knowledge. Readers are cautioned to not position undue reliance on forward-looking knowledge. The statements made on this press unencumber are made as of the date hereof. Komo disclaims any purpose or legal responsibility to publicly replace or revise any forward-looking knowledge, whether or not because of new knowledge, long run occasions or differently, with the exception of as is also expressly required via appropriate securities regulations.

Click on right here to hook up with Komo Plant Primarily based Meals Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) to obtain an Investor Presentation


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