Plant & Co. Brands Closes Oversubscribed Non-Brokered Private Placement

Toronto, Ontario--(Newsfile Corp. - December 14, 2020) - Plant & Co. Brands Ltd. (CSE: VEGN) (FSE: 3CMB) (OTC Pink: EURPF) ("Plant & Co." or the "Company"), a vertically integrated enterprise focused on the health and wellness sector, is pleased to announce that it has closed its over-subscribed non-brokered private placement (the "Private Placement") raising gross proceeds of $4,200,500 through the issuance of 21,002,500 units (the "Units") at $0.20 per Unit.

Each Unit consists of one common share (a "Share") and one transferable common share purchase warrant (a "Warrant") with each Warrant exercisable into Shares of the Company at a price of $0.25 per Share for two (2) years from the date of closing of the Private Placement.

The Company intends to use the net proceeds from the Private Placement for merger and acquisition activities and opportunities in the plant-based food market and general working capital. With the global population growing rapidly, so is the demand for animal-protein alternatives, meat replacements and other non-animal plant-based industrial ingredients. Driven by consumers concerned with health, wellness and the global environment, there has been considerable cultural, health and environmental changes to create very favourable market conditions for the rise of plant-based protein.

While the total protein demand is expected to double by 2054, the market for alternative proteins, including plant-based proteins, is expected to also expect to grow at 14% annually and by 2024 make up approximately one third of the total protein market. The global plant-based protein market alone is significant and expected to reach almost US$11 billion by 2022 supported by a CAGR of 6.7% (source National Research Council Canada (2019 report)).

The Company paid finder's fees of $88,375 cash and 631,750 finder's warrants (the "Finder's Warrants") to Sprott Capital Partners LP, Echelon Wealth Partners ULC, Haywood Securities Inc., Canaccord Genuity Corp., EMD Financial Inc. and PI Financial Corp. The Finder's Warrants are non-transferable and exercisable on the same terms as the Private Placement Warrants.

All securities issued are subject to a four-month hold period pursuant to securities laws in Canada. Shawn Moniz, CEO, Chairman and a director of the Company subscribed for 750,000 Units through his company, 1202103 BC Ltd.; Lindsay Hamelin, a director of the Company subscribed for 75,000 Units through her company, 1130970 BC Ltd., and Jerry Habuda, a director of the Company, subscribed for 50,000 Units. As such, their participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company's market capitalization.

About Plant & Co. Brands Ltd.

Plant & Co. Brands Ltd. (CSE: VEGN) (FSE: 3CMA) (OTC Pink: EURPF) is a vertically integrated enterprise focused on the health and wellness sector.

For additional information, please contact: ir@plantandco.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the closing of the Transaction and the business plans and prospects of Holy Crap and the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70183

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