Mr. Braelyn Davis reports

PLANET BASED FOODS ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Planet Based Foods Global Inc. has closed the second and final tranche of its previously announced non-brokered private placement of 67 convertible debenture units at a price of $1,000 per unit for gross aggregate proceeds of up to $67,000. In total, the company issued an aggregate of 341 units under both tranches of the private placement for gross proceeds of $341,000.

Each unit issued pursuant to the second tranche closing is composed of: (i) $1,000 principal amount of 10 per cent unsecured convertible debentures issued by the company with a maturity date of 18 months from the date of issuance; and (ii) 5,000 subordinate voting share purchase warrants of the company.

Each convertible debenture is convertible at the holder's option into fully paid subordinate voting shares of the company at any time prior to the maturity date at a conversion price of 10 cents per share.

Each warrant is exercisable into one share of the company at an exercise price of 20 cents for a period of 24 months from the date of issuance.

The net proceeds of the second tranche closing will be used for general working capital and corporate purposes.

All securities issued in connection with the second tranche closing will be subject to a four-month-and-one-day hold period in accordance with applicable securities laws.

About Planet Based Foods Global Inc.

Planet Based Foods, through its wholly owned subsidiary in San Diego, Calif., is a producer of sustainable plant-based food alternatives. Planet Based Foods was founded in 2018 in San Diego, Calif., with a mission to build a better food system by providing hemp-formulated superfood products to people today that support the planet tomorrow. All Planet Based Foods products are 100 per cent vegan. Planet Based Foods creates clean, non-genetically modified organism, nutrient-dense food built for the future: the first line of plant-based foods with sustainable hemp as the No. 1 ingredient. Founded by former nutrition coach and cannabis marketer Braelyn Davis, food scientist and plant-based pioneer Robert Davis, and restaurant industry veteran Ted Cash, the company aims to establish hemp as a nutrient-dense protein source to feed the world sustainably for generations to come. Planet Based Foods' suite of products includes its new consumer line of nutritious frozen foods, plant-based food ingredients and hand-held comfort foods for food service and restaurants.

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