Planet Based Foods Global Inc. Announces Closing of Debt Settlement Transactions with Related Parties
Planet Based Foods Global (OTC:PBFFF) has completed previously announced debt settlement transactions with related parties Baron Global Financial Canada and Coenda Investments Holding Corp. The company issued 15,238,094 subordinated voting shares to settle a CAD $800,000 debt at a deemed price of $0.0525 per share, representing a 25% discount to market price.
The shares are subject to a four-month statutory hold period. The company relied on exemptions from formal valuation and minority shareholder approval requirements due to serious financial difficulties, with the transactions designed to improve its financial position.
Planet Based Foods Global (OTC:PBFFF) ha completato le operazioni di estinzione del debito annunciate in precedenza con le parti correlate Baron Global Financial Canada e Coenda Investments Holding Corp. La società ha emesso 15.238.094 azioni subordinate con diritto di voto per saldare un debito di CAD $800.000 a un prezzo presunto di $0,0525 per azione, equivalenti a uno sconto del 25% rispetto al prezzo di mercato.
Le azioni sono soggette a un periodo di blocco statutario di quattro mesi. L’operazione si è avvalsa delle esenzioni dai requisiti di valutazione formale e di approvazione da parte degli azionisti di minoranza a causa di gravi difficoltà finanziarie, ed è stata pensata per migliorare la situazione patrimoniale della società.
Planet Based Foods Global (OTC:PBFFF) ha completado las transacciones de liquidación de deuda anunciadas previamente con las partes relacionadas Baron Global Financial Canada y Coenda Investments Holding Corp. La compañía emitió 15.238.094 acciones subordinadas con derecho a voto para saldar una deuda de CAD $800,000 a un precio estimado de $0.0525 por acción, lo que representa un descuento del 25% respecto al precio de mercado.
Las acciones están sujetas a un periodo de retención estatutario de cuatro meses. La compañía se acogió a exenciones de los requisitos de valoración formal y de aprobación de accionistas minoritarios debido a graves dificultades financieras; las operaciones buscan mejorar su posición financiera.
Planet Based Foods Global (OTC:PBFFF)는 관련 당사자인 Baron Global Financial Canada 및 Coenda Investments Holding Corp.와 이전에 발표한 채무 정산 거래를 완료했습니다. 회사는 CAD $800,000의 채무를 상계하기 위해 15,238,094주의 종속 의결권 주식을 발행했으며, 주당 $0.0525의 소정가로 발행되어 시장 가격 대비 25% 할인에 해당합니다.
해당 주식은 4개월의 법정 의무 보유 기간이 적용됩니다. 회사는 심각한 재정적 어려움으로 인해 정식 평가 및 소수주주 승인 요건에서 면제를 적용받았으며, 이번 거래는 재무 상태 개선을 목적으로 설계되었습니다.
Planet Based Foods Global (OTC:PBFFF) a finalisé les opérations de règlement de dettes annoncées précédemment avec les parties liées Baron Global Financial Canada et Coenda Investments Holding Corp. La société a émis 15 238 094 actions subordonnées avec droit de vote pour solder une dette de CAD $800 000 à un prix réputé de $0,0525 par action, soit une décote de 25 % par rapport au cours du marché.
Les actions sont soumises à une période de blocage statutaire de quatre mois. La société s’est prévalue des exemptions relatives aux obligations d’évaluation formelle et d’approbation des actionnaires minoritaires en raison de graves difficultés financières ; les opérations visent à améliorer sa situation financière.
Planet Based Foods Global (OTC:PBFFF) hat die zuvor angekündigten Schuldenbereinigungs-Transaktionen mit den verbundenen Parteien Baron Global Financial Canada und Coenda Investments Holding Corp. abgeschlossen. Das Unternehmen gab 15.238.094 nachrangige stimmberechtigte Aktien aus, um eine Schuld von CAD $800.000 zu begleichen, zu einem angenommenen Preis von $0,0525 pro Aktie, was einem Abschlag von 25 % auf den Marktpreis entspricht.
Die Aktien unterliegen einer viermonatigen gesetzlichen Sperrfrist. Das Unternehmen nutzte Ausnahmen von formellen Bewertungs- und Minderheitsaktionärszustimmungsanforderungen aufgrund schwerer finanzieller Schwierigkeiten; die Transaktionen dienen der Verbesserung der finanziellen Lage.
- Elimination of CAD $800,000 in debt obligations
- Improvement of company's balance sheet through debt-to-equity conversion
- No immediate cash outlay required for debt settlement
- 25% discount to market price on share issuance indicates financial distress
- Significant shareholder dilution through issuance of 15.2M new shares
- Company acknowledged being in serious financial difficulty
- Related party transactions may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the "Company") announces that, further to its news release of August 20, 2025, it has now completed its previously announced debt settlement transactions (the "Transactions") with each of Baron Global Financial Canada Ltd. ("Baron") and Coenda Investments Holding Corp. ("Coenda"), executed definitive debt settlement agreements (the "Debt Settlement Agreements") with each of Baron and Coenda (together, the "Creditors").
Pursuant to definitive debt settlement agreements entered into with the Creditors, the Company has issued an aggregate of 15,238,094 subordinated voting shares (the "Shares") to settle bona fide indebtedness of CAD
All Shares issued in connection with the Transactions are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
The Creditors are "related parties" of the Company, and as such, the Transactions constituted "related party transactions" within the meaning of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(g) and 5.7(1)(e) thereof on the basis that the Company was in serious financial difficulty, the Transactions were designed to improve the financial position of the Company, and the terms of the Transactions were reasonable in the circumstances.
About Planet Based Foods Global Inc.
Planet Based Foods Global Inc. is reimagining the future of food through a diverse portfolio of sustainable ingredients, plant-based solutions, and advancements in agricultural technology. With a focus on environmental stewardship, product excellence, and scalable impact, the Company empowers food manufacturers, partners, and consumers to participate in a cleaner, healthier, and more resilient global food system. Planet Based Foods operates with integrity and purpose, delivering products that align with evolving consumer values and contribute to a more sustainable future.
Additional information is available at www.sedarplus.ca.
On Behalf of the Board
Claire Skillen
Chief Executive Officer and President
Contact: info@pbfglobal.com
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding future plans, strategies, objectives, expectations, and intentions of Planet Based Foods Global Inc. (the "Company"). These statements are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, without limitation, industry developments, regulatory changes, access to capital, operational challenges, supply chain disruptions, and economic conditions. Actual results may differ materially from those expressed or implied in forward-looking statements. Readers are cautioned not to place undue reliance on these statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by law.
Additional information, including risk factors, is available in the Company's public filings on SEDAR+ at www.sedarplus.ca.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this release and accepts no responsibility for its adequacy or accuracy.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264416
FAQ
What is the value of PBFFF's debt settlement transaction announced in August 2025?
How many shares did Planet Based Foods (PBFFF) issue for the debt settlement?
What was the discount applied to PBFFF shares in the debt settlement?
Why did Planet Based Foods (PBFFF) not require minority shareholder approval for this transaction?
How long is the hold period for the shares issued in PBFFF's debt settlement?
