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File: '\\office\emailin\20220622 202353 Attachment 22.06.22 - Komo Private Placement Tranche 1 Closing.docx'
Komo Plant Based Foods Closes Non-Brokered Private Placement
Vancouver, B.C. - June 22, 2022 - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) ("Komo" or the "Com
--->pany") announces that is has closed a non-brokered private placement (the "Placement") issuing 593,875 units of the Co
--->mpany ("Units") at a price of $1,000 per Unit. Each Unit consisted of a convertible unsecured debenture (the "Debentur
--->e") and 16,000 common share purchase warrants of the Company ("Warrants") for a total of 9,502,00 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 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, 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 $0.07 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 w
--->arrants to each purchase one common share of the Company at a price of $0.05 for a period of 24 months from the date o
--->f issue.
The shares underlying the Warrants, the Broker Warrants and the Debentures are subject to a statutory hold period expi
--->ring four months and one day from issuance of the underlying securities.
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.
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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