Plantable Health Completes Initial Public Offering

December 31, 2021 11:11 AM EST | Source: Plantable Health Inc.

Vancouver, British Columbia--(Newsfile Corp. - December 31, 2021) - Plantable Health Inc. ("Plantable" or the "Company"), announced today the successful closing of its initial public offering (the "Offering") of units of Plantable ("Units") at a price of C$0.40 (the "Offering Price") per Unit for gross proceeds of C$4.5 million. Clarus Securities Inc. (the "Agent") acted as sole agent and bookrunner in respect of the Offering.

CEO Dr. Nadja Pinnavaia stated: The IPO is a critical milestone enabling us to scale operations, and to support present and future clinical trials to clinically prove our effective solution for long-term behavior change. With plant-based nutrition, one-on-one coaching and a lifestyle platform at our core, our mission is to put an end to unnecessary chronic disease, bringing joy to people's lives through optimal health and well-being.

Use of Proceeds

The Company anticipates using the net proceeds from the Offering for sales and marketing expenses, technology development, clinical trials and working capital purposes. Key priorities include expanding the base direct-to-consumer business by strengthening e-commerce fundamentals, establishing partnership "B2B2C" distribution channels following the conclusion of clinical trials, and launching CPG line of healthy plant-based staples including sauces, snacks, spices and condiments designed to facilitate the Plantable lifestyle, available for sale on the website and also in retail store.

Board of Directors

Plantable's 5-member board of directors, to guide and support growth, is composed of the following:

Nadja Pinnavaia - Founder, CEO and Director: Prior to founding Plantable, Dr. Pinnavaia was a managing director at Goldman Sachs in London where she worked for 12 years. She also has an undergraduate degree in chemistry from King's College, London, and a Ph.D. in quantum chemistry from St. Catharine's College, Cambridge. She holds the Certificate in Culinary Nutrition from the Natural Gourmet Institute.

David Kopp - Strategic Media Advisor and Director: Mr. Kopp is an experienced chief executive in consumer digital health with expertise spanning strategy, product development, marketing, and technology. Mr. Kopp serves on several private and non-profit boards of directors, including those of HealthTap, Inc., One Care Media, LLC and From January 2016 until August 2020, Mr. Kopp was the chief executive officer of Healthline Media, Inc., a website and provider of health information. Mr. Kopp brings deep expertise in consumer-driven digital health businesses, particularly in growth marketing, scaling teams and culture, financial planning and strategy.

Dr. Jason Campagna M.D, Ph.D. - Clinical Advisor and Director: Dr. Jason Campagna is a Board-certified physician and surgeon with experience in neuroscience, autoimmunology and fatty liver disease. Dr. Campagna is presently the Chief Medical Officer at Q32 Bio Inc. Dr. Campagna was previously Chief Medical Officer at Intercept Pharmaceuticals, Inc., a Nasdaq traded pharmaceutical company, specializing in developing pharmacological solutions for non-viral liver diseases. Dr. Campagna completed his post-doctoral fellowships in neural plasticity and internal medicine at Massachusetts General Hospital in Boston. Dr. Campagna brings extensive experience in clinical trials and an extensive network across leading medical institutions.

Peter Hughes, B.Sc. - Lead Director: Mr. Hughes has 35 years business experience including senior-level executive and director positions in both private and public companies specializing in a wide variety of industries. His experience includes corporate structuring, public and private financing, marketing, strategic planning, negotiating agreements and public company and operations management. Mr. Hughes obtained a Bachelor of Science degree from the University of British Columbia, completed the Canadian Securities Course from the Canadian Securities Institute and completed the Directors and Officers Program.

Elisa Udaskin - Strategic CPG Advisor and Director: Ms. Udaskin is an accomplished senior brand marketer with 20 years of experience. Ms. Udaskin's marketing career at Kraft Foods and Mondelez International spanned traditional profit and loss management, innovation, customer relationship management and corporate partnerships in Canada, the United States, Singapore and globally. Ms. Udaskin obtained a Master of Business Administration from the Schulich School of Business, York University in Toronto, Canada, a Master of International Affairs from the Norman Paterson School of International Affairs, Carleton University, Ottawa, Canada and a Bachelor of Arts, Political Science from Queen's University, Kingston, Canada.

Offering Details

The Offering was completed pursuant to the Company's amended and restated (final) prospectus dated December 23, 2021 (the "Prospectus") and filed with the securities commissions in the Provinces of British Columbia, Alberta and Ontario, a copy of which is available under the Company's profile on SEDAR at

Each Unit consists of one common share in the capital of the Company (being a "Common Share") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share (a "Warrant Share") at an exercise price of $0.80 until 5:00 p.m. (Vancouver Time) on December 31, 2023.

The Common Shares and the Warrants Shares have been conditionally approved for listing on the Neo Exchange Inc. (the "Neo") under the symbol "PLBL". Listing is expected to occur in mid-January and will be subject to the Company fulfilling all of the requirements of the Neo.

The Agent has been granted an option, exercisable at any time up to January 30, 2022, to sell up to an additional 1,687,500 Units at the Offering Price, up to an additional 1,687,500 Common Shares at a price of $0.395 per Common Share, and/or up to an additional 843,750 Warrants at a price of $0.01 per Warrant, in any combination, to cover the Agent's over-allotment position, if any, and for market stabilization purposes.

No securities regulatory authority has either approved or disapproved the contents of this news release. The securities under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States, except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offering or sale thereof is not Permitted.

About Plantable Health Inc.

Plantable is a lifestyle change program, clinically supported on its Foundational Results that combines behavioral psychology, neuroscience and nutritional science to transform health and wellness. Plantable drives healthy weight loss and an improvement in performance, health and well-being, by bringing together plant-based meals, personalized coaching support and lifestyle tools to empower people to change their dietary habits. For more information with respect to Company's Foundational Results, please refer to "Prospectus Summary - Clinical Trials & Results" in the Prospectus.

For further information please contact:

Dr. Nadja Pinnavaia
Chief Executive Officer

For investor inquiries please contact:

Olenka Slawski
Corporate Communications and Investor Relations
Phone: 778-200-4926

Cautionary Note Regarding Forward-Looking Information

Certain statements contained in this news release constitute forward-looking statements as defined under applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Specifically, the references in this news release to the listing of the Common Shares on the Neo and the timing thereof, the use of proceeds from the Offering and the Company's mission and objectives constitute forward-looking statements. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements, see "Notice to Investors - Forward-Looking Information" and "Risk Factors" in the Prospectus. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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