Vancouver, BC - TheNewswire - May 18, 2023 - Plantify Foods, Inc. (TSXV:PTFY) ("Plantify Foods" or the "Company") reports that Save Foods, Inc. (NASDAQ:SVFD) has changed its nominee on Plantify’s board of directors from Amitai Weiss to David Shrem.

Mr. Shrem has 17 years of experience in the capital markets segment, including IPOs, M&As, private placements and investor relations. He started his career as an equity analyst at Sphera Funds Management, Israel’s leading hedge fund with approximately $1 billion assets under management, and he covered companies in various sectors. He then became Head Portfolio Manager of Sphera Small Cap Fund, where his role included involvement in all capital markets aspects including IPOs, M&As and private placements. Mr. Shrem has a bachelor’s degree in business and finance, with a cum laude distinction from Reichman university.

“We are pleased to have David joining our board of directors as his deep capital markets experience will provide valuable insights to create long-term value for our shareholders,” said Dr. Roy Borochov, CEO of Plantify Foods.

Plantify Foods and Save Foods completed a securities exchange last month whereby each acquired 19.99% of the issued and outstanding capital stock of the other party immediately prior to the closing on a non-diluted basis. See Plantify Foods’ news release from April 5, 2023, for further information.

About Plantify Foods, Inc.

Plantify Foods, Inc., through its wholly owned Israeli subsidiary, is active in the food tech sector, focused on the development and production of "clean-label" plant-based products. Plantify’s unique technology allows for the production of plant-based meat alternatives, dips, and snacks, with natural ingredients familiar to consumers that are free of preservatives, free of common food allergens, are GMO-free and enjoy the same or longer shelf life than most preservative-containing products of the same category. Plantify is also engaged in developing functional foods with health benefits supported by independent testing that it anticipates will enable it to make health claims under US Food and Drug Administration and Canadian Food Inspection Agency regulations. Plantify currently sells its products in Israel and North America. Learn more by visiting www.plantifyfoods.com.

Contacts

Gabriel Kabazo

Chief Financial Officer and Corporate Secretary

Phone: 1 (604) 833-6820

Email: gabi@plantifyfoods.com

Caroline Sawamoto

Investor Relations

Phone:  1 (833) 947-5227

Email: caroline@irlabs.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on certain risks and uncertainties. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.