PlantFuel Completes Non-Brokered Private Placement
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Mississauga, Ontario - TheNewswire - November 30, 2021 - PlantFuel Life Inc. (CNSX:FUEL.CN) (OTC:BLLXF) (FSE:BR1B) (“PlantFuel” or the “Company”) is pleased to announce that, further to its press release dated November 1, 2021, it has completed a non-brokered private placement (the “Private Placement”) of 4,613,854 units (the “Units”) at a price of $0.26 per Unit for gross proceeds of $1,199,602.40. Each Unit is comprised of one common share (each a “Share”) and one-half of one common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.40 per Share for a period of 24 months from the date of issuance.
The Company paid finder’s fees of $68,502.14 and 263,470 finder’s warrants (the “Finder’s Warrants”) to Echelon Wealth Partners Inc. The Finder’s Warrants are exercisable at $0.26 per Share for a period of 12 months from the date of issuance.
The Shares, Warrants and Finder’s Warrants are subject to a statutory hold period until the date that is four months and one day from the date of issuance.
The Company intends to use the proceeds from the Private Placement to support inventory purchases, marketing 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. https://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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