The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement between Sol Cuisine Ltd., PlantPlus Foods LLC and its wholly owned subsidiary, PlantPlus Foods Canada Inc. (the purchaser), dated Nov. 11, 2021, pursuant to which the purchaser will acquire all of the issued and outstanding common shares, common share purchase warrants, compensation options and stock options of the company by way of a plan of arrangement under the Business Corporations Act (Ontario).

The exchange has been advised that the requisite approval of the arrangement by the company's shareholders was received at a special meeting of shareholders held on Jan. 7, 2022, and that the Ontario Superior Court of Justice granted a final order with respect to the arrangement on Jan. 12, 2022. The arrangement was completed on Jan. 19, 2022. Under the arrangement: (i) each shareholder of the company will receive, for each common share held, cash in the amount of $2.06; (ii) each holder of the company's warrants or compensation options will receive, for each warrant or compensation option held, as applicable, cash in the amount of 18 cents; and (iii) each holder of the company's options will receive a cash payment equal to the amount (if any) by which the share consideration exceeds the exercise price of such company's options.

Delisting

Effective at the close of business on Monday, Jan. 24, 2022, the shares of the company will be delisted from the TSX Venture Exchange.

For further details, please refer to the company's management information circular dated Dec. 7, 2021, and news releases dated Nov. 12, 2021, Dec. 16, 2021, Dec. 31, 2021, Jan. 7, 2022, and Jan. 19, 2022.