Planet Based Foods Global Inc.: A Major Corporate Shift
Vancouver, British Columbia – April 2, 2025 – Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the “Company”), a leading innovator in the hemp-based food alternatives sector, recently announced a significant corporate development. The Company has entered into a Share Purchase Agreement with its wholly-owned California-based subsidiary, Planet Based Foods Inc., and three of its directors – Braelyn Davis (CEO), Robert Davis (CIO), and Ted Cash (CFO) – collectively referred to as the “Purchasers.”
The Share Purchase Agreement
Under the terms of the Share Purchase Agreement, the Company will transfer all of the issued and outstanding shares of Subco to the Purchasers. In return, the Purchasers will surrender all of their securities of the Company held by them. As a result, an aggregate of 800,000 multiple voting shares and 600,000 subordinate voting shares in the capital of the Company will be returned to treasury and cancelled.
Implications for Shareholders
This transaction will lead to a reduction in the Company’s outstanding shares, which could potentially result in an increase in the value of each remaining share. However, it is important to note that this is not a guaranteed outcome, as market conditions and other factors will also play a role in determining the share price.
Impact on the Hemp Food Industry
The hemp food industry is experiencing rapid growth, with increasing consumer demand for plant-based and sustainable food alternatives. This transaction by Planet Based Foods could be a strategic move to strengthen the Company’s position in the market. By returning shares to treasury and cancelling them, the Company will have more financial resources to invest in research and development, marketing, and expanding its product offerings.
Global Implications
The hemp food industry is not limited to North America; it is a global market with significant potential. The trend towards plant-based diets is not unique to any one region, and companies that can offer high-quality, sustainable, and innovative hemp-based food alternatives are well-positioned to capitalize on this growing trend.
Conclusion
Planet Based Foods Global Inc.’s announcement of the Share Purchase Agreement with its California-based subsidiary and its directors represents a significant corporate development. The transaction will result in a reduction in the Company’s outstanding shares, which could potentially lead to an increase in the value of each remaining share. Furthermore, by returning shares to treasury and cancelling them, the Company will have more financial resources to invest in its growth strategy in the rapidly expanding hemp food industry. These developments could have both local and global implications, positioning Planet Based Foods as a key player in the sustainable food sector.
- Planet Based Foods Global Inc. entered into a Share Purchase Agreement with its subsidiary and directors.
- The Company will transfer all of the issued and outstanding shares of Subco to the Purchasers in exchange for their securities.
- An aggregate of 800,000 multiple voting shares and 600,000 subordinate voting shares will be returned to treasury and cancelled.
- The transaction could result in an increase in the value of each remaining share.
- The Company will have more financial resources to invest in its growth strategy in the hemp food industry.
- The trend towards plant-based diets is global, and companies offering sustainable hemp-based food alternatives are well-positioned to capitalize on this trend.
