Planet Based Foods Global Inc. Announces Execution of Definitive Agreements for Related Party Debt Settlement
Planet Based Foods Global (OTC:PBFFF) has executed definitive debt settlement agreements with Baron Global Financial Canada and Coenda Investments to settle $800,000 of debt through share issuance. The company will issue 15,238,094 shares at $0.0525 per share, representing a 25% discount to the closing price.
The settlement includes 9,523,809 shares to Coenda for $500,000 of debt and 5,714,285 shares to Baron for $300,000 of debt. Post-settlement, Coenda's ownership will increase from 49.15% to 54.86%, while Baron will hold approximately 16.66% of outstanding shares. The transaction, subject to regulatory approvals, is expected to complete around August 28, 2025.
Planet Based Foods Global (OTC:PBFFF) ha firmato accordi definitivi di risoluzione del debito con Baron Global Financial Canada e Coenda Investments per estinguere $800.000 di debiti tramite emissione di azioni. La società emetterà 15.238.094 azioni al prezzo di $0,0525 per azione, corrispondente a uno sconto del 25% rispetto al prezzo di chiusura.
La liquidazione comprende 9.523.809 azioni a Coenda per debiti pari a $500.000 e 5.714.285 azioni a Baron per $300.000 di debiti. Dopo la transazione, la partecipazione di Coenda passerà dal 49,15% al 54,86%, mentre Baron deterrà circa il 16,66% delle azioni in circolazione. L'operazione, soggetta alle approvazioni regolamentari, dovrebbe concludersi intorno al 28 agosto 2025.
Planet Based Foods Global (OTC:PBFFF) ha suscrito acuerdos definitivos de cancelación de deuda con Baron Global Financial Canada y Coenda Investments para saldar $800,000 de deuda mediante la emisión de acciones. La compañía emitirá 15,238,094 acciones a $0.0525 por acción, lo que representa un descuento del 25% respecto al precio de cierre.
El acuerdo incluye 9,523,809 acciones a Coenda por $500,000 de deuda y 5,714,285 acciones a Baron por $300,000 de deuda. Tras la operación, la participación de Coenda aumentará del 49.15% al 54.86%, mientras que Baron poseerá aproximadamente el 16.66% de las acciones en circulación. La transacción, sujeta a aprobaciones regulatorias, se espera que se complete alrededor del 28 de agosto de 2025.
Planet Based Foods Global (OTC:PBFFF)가 Baron Global Financial Canada 및 Coenda Investments와 확정 채무 정산 계약을 체결하여 $800,000의 채무를 주식 발행으로 상환합니다. 회사는 주당 $0.0525에 15,238,094주를 발행하며, 이는 종가 대비 25% 할인에 해당합니다.
정산은 Coenda에 9,523,809주를 발행해 $500,000의 채무를 상환하고, Baron에 5,714,285주를 발행해 $300,000의 채무를 상환하는 내용을 포함합니다. 정산 후 Coenda의 지분은 49.15%에서 54.86%로 증가하며 Baron은 전체 발행주식의 약 16.66%를 보유하게 됩니다. 본 거래는 규제 승인 대상이며 2025년 8월 28일경 완료될 것으로 예상됩니다.
Planet Based Foods Global (OTC:PBFFF) a conclu des accords définitifs de règlement de dettes avec Baron Global Financial Canada et Coenda Investments pour solder 800 000 $ de dettes par émission d'actions. La société émettra 15 238 094 actions à 0,0525 $ par action, soit une décote de 25 % par rapport au cours de clôture.
Le règlement prévoit 9 523 809 actions à Coenda pour 500 000 $ de dettes et 5 714 285 actions à Baron pour 300 000 $ de dettes. Après l'opération, la participation de Coenda passera de 49,15 % à 54,86 %, tandis que Baron détiendra environ 16,66 % des actions en circulation. La transaction, soumise aux approbations réglementaires, devrait se finaliser vers le 28 août 2025.
Planet Based Foods Global (OTC:PBFFF) hat endgültige Vereinbarungen zur Schuldenbereinigung mit Baron Global Financial Canada und Coenda Investments getroffen, um $800.000 an Schulden durch Aktienausschüttung zu begleichen. Das Unternehmen wird 15.238.094 Aktien zu je $0,0525 ausgeben, was einem Abschlag von 25% auf den Schlusskurs entspricht.
Die Vereinbarung sieht vor, 9.523.809 Aktien an Coenda für $500.000 Schulden und 5.714.285 Aktien an Baron für $300.000 Schulden zuzuweisen. Nach der Transaktion steigt Coendas Beteiligung von 49,15% auf 54,86%, während Baron etwa 16,66% der ausstehenden Aktien halten wird. Die Transaktion steht unter dem Vorbehalt behördlicher Genehmigungen und soll voraussichtlich um den 28. August 2025 abgeschlossen sein.
- None.
- 25% share price discount on debt conversion indicates financial strain
- Significant dilution for existing shareholders
- Increased control concentration with Coenda reaching 54.86% ownership
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the "Company") announces that, further to its news release of August 18, 2025 announcing the execution of binding term sheets with Baron Global Financial Canada Ltd. ("Baron") and Coenda Investments Holding Corp. ("Coenda"), it has now executed definitive debt settlement agreements (the "Debt Settlement Agreements") with each of Baron and Coenda to settle an aggregate of
Terms of the Debt Settlement Agreements
Under the Debt Settlement Agreements, the Debt will be satisfied by the issuance of Shares at a deemed price of
- 9,523,809 Shares to Coenda in full and final settlement of
- 5,714,285 Shares to Baron in full and final settlement of
The Shares will be subject to a four-month hold period under applicable Canadian securities laws. The Company expects to complete the issuance of Shares on or about August 28, 2025. Completion of the Debt Settlement Agreements will be subject to receipt of and all necessary regulatory approvals, including, if required, conditional approval by the CSE.
Strengthening the Balance Sheet
The Debt Settlement Agreements represent a significant step in improving the Company's financial position. By extinguishing
Related Party Transaction and Financial Hardship Exemptions
The Creditors are related parties of the Company for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), by virtue of their principal shareholders serving as directors of the Company. Accordingly, the Debt Settlement Agreements constitute "related party transactions" under MI 61-101.
The Audit Committee of the Board (excluding interested directors) unanimously recommended approval of the Debt Settlement Agreements, determining that the Company is in serious financial difficulty, the transactions are designed to improve the Company's financial position, and the terms are reasonable in the circumstances. The independent directors subsequently approved the Debt Settlement Agreements in reliance on the exemptions from the formal valuation and minority approval requirements pursuant to sections 5.5(g) and 5.7(1)(e) of MI 61-101.
Impact on Shareholdings
Following completion of the Debt Settlement Agreements, Coenda will increase its holdings from approximately
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/263265
FAQ
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