Vancouver, BC - TheNewswire - May 9, 2023 - Plantify Foods, Inc. (TSXV:PTFY) ("Plantify Foods" or the "Company") is pleased to announce it has entered into an investor relations agreement with irlabs Inc. ("irlabs") to provide the Company with investor relations services, with a primary focus on developing and managing an investor relations and communications program, including stakeholder relations.

“We are excited to partner with irlabs, a renowned investor relations firm in Canada, to enhance our engagement with the investment community,” said Dr. Roy Borochov, CEO of Plantify Foods. “We believe irlabs will amplify our presence in the market as we effectively communicate our story to investors.”

“We are excited to work with Plantify Foods, a company that shares our dedication tosustainable and plant-based food solutions,” said Caroline Sawamoto, Principal and Co-Founder of irlabs. “We look forward to supporting the Company’s long-term vision and business strategy.”

Pursuant to the agreement with irlabs dated May 8, 2023, irlabs has agreed to provide investor relations and communications services to the Company in exchange for a monthly fee of $10,000. The services include developing and managing an investor relations and communications program, including stakeholder relations. The Company will also reimburse irlabs for all reasonable out-of-pocket expenses plus $300 per month to cover subscription fees for market intelligence platforms. The costs of the activities under the agreement with irlabs will be paid from the proceeds raised in the Company’s private placement that closed last month. The term of the agreement is for a period of six months ending October 31, 2023. The agreement remains subject to acceptance by the TSX Venture Exchange.

The contact person, address, email, and telephone number for irlabs are as follows: Caroline Sawamoto (Principal and Co-Founder), 400-22 E 5th Ave., Vancouver, BC, V5T 1G8, caroline@irlabs.ca, 1-833-947-5227. irlabs is owned by Caroline Sawamoto and Alyssa Barry.

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.

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", and in this press release includes the statement that the Company  believes that irlabs will amplify the Company’s presence in the market. 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.