Stockwatch

Komo Plant Based Foods Inc (2)
Symbol	YUM
Shares Issued	11,662,799
Close 2023-10-11	C$ 0.025
Market Cap	C$ 291,570
Recent Sedar Documents

Komo halts product manufacturing over lack of financing

2023-10-11 19:24 ET - News Release

Subject: for immediate release Word Document File: '\\swfile\EmailIn\20231011 161203 Attachment Komo Halts Production (2).docx' KOMO PLANT BASED FOODS INC. ANNOUNCES HALT IN PRODUCTION Vancouver, B.C. - October 11, 2023: Komo Plant Based Foods Inc. (CSE: YUM) (OTC Pink: KOMOF) (FRA:9HB) (the "Company"), announces that it has halted manufacturing of its products. This decision is due to the Company's inability to secure the necessary financing to continue operations at the existing scale. In the midst of these financial challenges, Komo continues to explore options, including the ongoing evaluation of a potential sale of its wholly-owned operating subsidiary, Komo Plant-Based Comfort Foods Inc. ("Komo"). As previously announced in July, the potential sale presents an attractive proposition for enterprises looking to amplify their portfolios in the plant-based sector, leveraging Komo's expansive distribution network, award-winning products, and the brand's strong resonance with consumers. Komo is actively reviewing opportunities in multiple sectors, including potential acquisitions. About Komo Plant Based Foods Inc. The Company's operating subsidiary ("Komo") has been a premium plant-based food company that develops, manufactures, and sells a variety of plant-based frozen meals that are always hearty, satisfying, and made with wholesome ingredients. At Komo, the company's mission is to help make plant-based meals a staple on every dinner table by sharing the company's love for feel-good food that connects people to the planet. Komo's products are sold direct-to-consumer through the company's e-commerce website, and a distribution network of online and brick-and-mortar grocery, convenience, and natural retailer channels. Komo's newest product is the award-winning Mac & Greens. All of Komo's products are 100 percent plant-based, made with wholesome ingredients, free from preservatives, and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have an 18-month frozen shelf life. follow on Instagram @komocomfortfoods For further information, please contact: William White, President & CEO, Komo Plant Based Foods Inc. will@komoeats.com 1+877-469-6668 The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release. Cautionary Statement Regarding Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company management's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the Company's ability to attract a buyer for its operating subsidiary, projected revenues, its projected expenses, its ability to raise capital, and its expectation as to the continued increase in the number of retailers and consumers of its products constitute forward- looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be expressly required by applicable securities laws. 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.