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Komo Plant Based Foods Inc
Symbol YUM
Shares Issued 88,901,036
Close 2022-06-06 C$ 0.045
Market Cap C$ 4,000,547
Recent Sedar+ Documents

ORIGINAL: Komo Plant arranges $1-million private placement

2022-06-06 17:40 ET - News Release

Received by email:

File: '\\office\emailin\20220606 142733 Attachment 22.06.06 NR Private Placement Announcement.docx'

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Komo Plant Based Foods Announces Non-Brokered Private Placement
Vancouver, B.C. - June 6, 2022 - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) ("Komo" or the "Comp
--->any") is pleased to announce a private placement offering (the "Offering") of up to 1,000 units of the Company ("Units
--->") at a price of $1,000 per Unit, for gross proceeds of up to $1,000,000. Each Unit will consist of (i) a convertible 
--->unsecured debenture (the "Debenture"); and (ii) 16,000 common share purchase warrants of the Company ("Warrants"). 
The Debentures will bear interest at a rate of 10% per annum on an accrual basis from issuance, calculated and payable
---> semi-annually in arrears on May 31 and November 30 of each year with such payment commencing on November 30, 2022 wit
--->h a redemption date that is 24 months from issuance (the "Maturity Date"). Interest may be paid in equity at a 15% dis
--->count to market at the option of the holder. The Debentures will be convertible in full or in part, at the holders' op
--->tion, into common shares in the capital of the Company at a 15% discount to the 30 day moving average as at the Maturi
--->ty Date, subject to CSE regulations, at a price not less than $0.05 per share (the "Conversion Price"), at any time pr
--->ior to their redemption. Each Warrant will entitle the holder thereof to acquire one common share of the Company at a 
--->price of $0.07 per share for a period of 36 months from the date of issue. 
The Company shall pay finders a cash commission equal to 8% of the gross proceeds of the Offering. In addition, the Co
--->mpany will grant finders such number common share purchase warrants as is equal to 8% of the gross proceeds from the O
--->ffering, with each such warrant exercisable to purchase one common share of the Company at the Conversion Price for a 
--->period of 24 months from the date of issue. 
It is anticipated that the Units will be eligible for RRSP, RESP, RRIF, TFSA and DPSP accounts within the meaning of t
--->he Income Tax Act (Canada) subject to certain qualifications, and will be subject to a statutory hold period expiring 
--->four months and one day from the closing date. The Units will be offered and sold by private placement in Canada to "a
--->ccredited investors" within the meaning of NI 45-106 - Prospectus Exemptions and other exempt purchasers under the app
--->licable securities laws. 
Use of proceeds from the Offering will be for retail listing fees, US broker fees, employee and management compensatio
--->n, and additional working capital.
Closing of the Offering is subject to the satisfaction of customary conditions. The Offering is expected to be complet
--->ed in multiple tranches. 
All amounts are in Canadian dollars. The net proceeds from the Offering will be used for marketing, scaling up product
--->ion, salaries and sales expansion throughout Canada and the United States. 
About Komo
Komo Plant Based Foods Inc. is a premium plant-based food company that develops, manufactures and sells a variety of p
--->lant-based frozen meals that are always hearty, satisfying, and made with wholesome ingredients. At Komo, our mission 
--->is to help make plant-based meals a staple on every dinner table by sharing our love for feel-good food that connects 
--->the people to the planet. We believe plant-based eating is the future and - Change can start with a single biteTM. Our
---> experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty cl
--->assics, with 100% plants. Komo's products are sold direct-to-consumer through our eCommerce website and a distribution
---> network of online and brick and mortar grocery, convenience and natural retailer channels. Our operating subsidiary K
--->omo Comfort Foods launched in 2021 with our flagship products: plant-based Lasagna, Shepherd's Pie and Chickenless Pot
---> Pie and Komo Plant-Based Meal HelpersTM - versatile meal starters to allow the creation of many dishes at home. All o
--->f our products are 100% plant-based, made with wholesome ingredients, free from preservatives, and frozen for freshnes
--->s. Komo's plant-based lasagna was awarded the Best New Vegan Product at the Natural Products Expo West Show in March 2
--->022. 

Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods

For further information, please contact:

William White, President & CEO, Komo Plant Based Foods Inc.
will@komoeats.com
1-866-969-0882

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any juris
--->diction in which such offer or solicitation would be unlawful prior to registration or qualification under the securit
--->ies laws of such jurisdiction.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1
--->933, as amended (the "Securities Act"), or the securities laws of any state of the United States, and may not be offer
--->ed or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S o
--->f the Securities Act) or a person in the United States, unless an exemption from such registration requirements is ava
--->ilable.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to 
--->future events or Komo's future performance. The use of any of the words "could", "expect", "believe", "will", "project
--->ed", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended
---> to identify forward-looking information and are based on Komo's current belief or assumptions as to the outcome and t
--->iming of such future events. Actual future results may differ materially. In particular, Komo's ability to retain key 
--->personnel, its revenues, and its expectation as to the acceptance of its products by retailer stores and consumers con
--->stitute 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 sta
--->tements made in this press release are made as of the date hereof. Komo disclaims any intention or obligation to publi
--->cly update or revise any forward-looking information, whether as a result of new information, future events or otherwi
--->se, except as may be expressly required by applicable securities laws.






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