Vancouver, British Columbia – TheNewswire – May 11, 2023— Plantify Foods, Inc. (TSXV:PTFY) ("Plantify Foods" or the "Company") is pleased to announce it has retained Generation IACP Inc. ("Generation") to provide market making services with the objective of maintaining a reasonable market and improving the liquidity of Plantify Foods’s common shares.

Under the agreement between Generation and the Company (the "Generation Agreement") dated May 4, 2023, the Company has agreed to initially pay Generation a fee of $7,500 plus applicable taxes, per month. Generation will not receive any common shares or options as compensation. The initial term of the Generation Agreement will last 6 months, and such term will be automatically renewed for subsequent 6-month periods unless terminated earlier by 30 days prior written notice. Notwithstanding the foregoing, Generation shall have the right to terminate the agreement at any time upon prior written notice. On the first anniversary of the agreement, the fee payable to Generation will automatically increase annually by 3.0 per cent.

Plantify Foods and Generation are unrelated and unaffiliated entities. Generation is based in Toronto, Ontario and is a member of the Investment Industry Regulation Organization of Canada and a member firm of the Toronto Stock Exchange and the TSX-V.

Generation has informed the Company that it does not currently own any securities of Plantify Foods; however, Generation and its clients may acquire a direct interest in the securities of the Company.

Generation’s market making activity will primarily contribute to market liquidity of the company’s shares. Generation will be responsible for the costs it incurs in buying and selling the company’s shares. No third party will be providing funds or securities for the market making activities.

The costs of the activities under the agreement with Generation will be paid from the proceeds raised in the Company’s private placement that closed last month. The agreement remains subject to acceptance by the TSX Venture Exchange.

The contact person, address, email, and telephone number for Generation are as follows: Ari Scheer (Head of Issuer Services), 22 St. Clair Avenue East, 18th floor, Toronto, ON, M4T2S3, AScheer@generationiacp.com, 1-866-557-0774. Generation is owned by Randall Abramson.

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 Generation will improve the liquidity of the Company’s common shares. 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.