PBIC Announces Resignation of Directors

April 27, 2023 8:47 AM EDT | Source: Plant-Based Investment Corp. (PBIC)

Toronto, Ontario--(Newsfile Corp. - April 27, 2023) - Plant-Based Investment Corp. (CSE: PBIC) ("PBIC", or the "Company") announced that effective April 18, 2023, Sean Conacher has resigned as a director of the Company and effective April 14, 2023, Mr. Conacher resigned as Chief Strategy Officer of the Company citing constructive dismissal.

On April 14, 2023, Mr. Conacher sent a demand letter to the Company for unpaid wages for the period from March 2022 to April 15, 2023, in the amount of $405,000, along with a termination payment equal to $720,000, being twenty four months of his base salary, payments equal to twenty four months of the Company's cost of his health premiums and the payment of accrued but unused vacation. The Company is reviewing the demand letter with legal counsel and expects to defend any and all future claims from Mr. Conacher.

Furthermore, effective April 21, 2023, Gerald Goldberg resigned as a director of the Company.

About Plant-Based Investment Corp.

Plant-Based Investment Corp. is an investment corporation that seeks to provide shareholders long-term total returns through capital appreciation and periodic distributions by investing in an actively managed portfolio of securities in public and private companies that derive a portion of their revenues, earnings or intellectual property-based value from products, equipment, services and/or technologies related to plant-based industries, including the cannabis plant family and its various compounds, the fungi industry (including medicinal, functional and psychedelics), super-foods and/or organic ingredients industries in addition to investing in specialty retail locations, functional medicine and wellness-based clinics and treatment centers.

Forward-Looking Statements

This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company's business plan and matters relating thereto, and risks associated with the Company's investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on SEDAR. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact: 

Plant-Based Investment Corp.

Paul Crath
Chief Executive Officer
T: (647) 660-0566
E: ir@plantbasedinvest.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163952