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Komo Plant Based Foods Inc
Symbol YUM
Shares Issued 88,901,036
Close 2022-06-22 C$ 0.04
Recent Sedar Documents

Komo closes $593,875 private placement

2022-06-22 23:30 ET - News Release

Mr. William White reports

KOMO PLANT BASED FOODS CLOSES NON-BROKERED PRIVATE PLACEMENT

Komo Plant Based Foods Inc. has closed a non-brokered private placement, issuing 593,875 units of the company at a price of $1,000 per unit. Each unit consisted of a convertible unsecured debenture and 16,000 common share purchase warrants of the company for a total of 9,502,000 warrants.

The placement consisted of $502,000 of gross proceeds plus debt conversions of $91,875 for a total value of $593,875.

The debentures will bear interest at a rate of 10 per cent per annum on an accrual basis from issuance, calculated and payable semi-annually in arrears on May 31 and Nov. 30 of each year with such payment commencing on Nov. 30, 2022, with a redemption date that is 24 months from issuance. Interest may be paid in equity at a 15-per-cent discount to market at the option of the holder. The debentures will be convertible in full or in part, at the holders' option, into common shares in the capital of the company at a 15-per-cent discount to the 30-day moving average as at the maturity date, subject to Canadian Securities Exchange regulations, at a price not less than five cents per share, at any time prior to their redemption. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of seven cents per share for a period of 36 months from the date of issue.

In connection with the placement, the company paid $36,000 of finders' fees to a registered broker and issued 720,000 warrants to purchase one common share of the company at a price of five cents for a period of 24 months from the date of issue.

The shares underlying the warrants, the broker warrants and the debentures are subject to a statutory hold period expiring four months and one day from issuance of the underlying securities.

About Komo Plant Based Foods Inc.

Komo is 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, its mission is to help make plant-based meals a staple on every dinner table by sharing its love for feel-good food that connects the people to the planet. The company believes plant-based eating is the future, and change can start with a single bite. Its experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100 per cent plants. Komo's products are sold direct to consumer through its e-commerce website and a distribution network of on-line and bricks and mortar grocery, convenience and natural retailer channels. Its operating subsidiary Komo Comfort Foods launched in 2021 with its flagship products: plant-based lasagna, shepherd's pie and chickenless pot pie, and Komo plant-based meal helpers -- versatile meal starters to allow the creation of many dishes at home. All of its products are 100 per cent plant based, made with wholesome ingredients, free from preservatives and frozen for freshness. Komo's plant-based lasagna was awarded the best new vegan product at the Natural Products Expo West Show in March, 2022.

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