- Planting Hope has granted stock options to certain directors, advisors, and employees
- Company ends previously announced private placement offering
CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / December 29, 2023 / The Planting Hope Company Inc. (TSXV:MYLK)(OTCQB:MYLKF)(FRA:J94) ("Planting Hope" or the "Company"), a dynamic Foodtech innovation company dedicated to creating breakthrough delicious, sustainable food and beverage solutions through cutting-edge ingredient, formulation, and packaging technology, today announced an award of stock options to various employees, advisors and directors, as well as the end of the previously announced US SEC Regulation D 506c private placement offering.
Stock Option Awards
The Company's Board of Directors has authorized, pursuant to its Omnibus Equity Incentive Plan ("Plan"), the grant of incentive stock options ("Options") to directors, employees and advisors to purchase an aggregate of up to 3,870,121 subordinate voting shares ("SV Shares") in the capital of the Company at an exercise price of $0.09 per SV Share.
Of the Options granted:
- An aggregate of 900,000 Options were granted to certain directors of the Company for a 5-year term and vest quarterly over 3 years;
- An aggregate of 1,337,000 options were granted to advisors and contractors of the Company for a 5-year term. Of these Options, 45,000 options vest immediately; 1,012,000 vest quarterly over 3-years; 100,000 vest 50% immediately, 25% on February 1, 2024 and 25% on March 1, 2024; 150,000 vest 20% immediately and the balance vest annually over 4-years; and 30,000 vest 1/3 on each of May 1, 2024 and annually thereafter for 2 years.
- 1,633,121 Options were granted to employees of the Company for a 5-year term. The vesting schedule for employee Options are tied to both temporal vesting and business milestone achievements in 2024 and 2025.
End of US SEC Regulation D 506c private placement offering:
Planting Hope has ended the US SEC Regulation D 506c private placement offering initially announced on October 7, 2023.
About The Planting Hope Company Inc.
Planting Hope is reimagining and reinventing food today so that our planet can feed 10 billion people tomorrow. A Foodtech-driven company at the forefront of sustainable consumer food and beverage evolution, Planting Hope transforms nutrient-dense, widely cultivated crops into innovative, nutrient-rich products that reimagine pantry staples in the largest, fastest growing global food categories.
Our award-winning breakthrough brands, including Hope and Sesame® Sesamemilk, RightRice® High-Protein Veggie Rice, and Mozaics™ Real Veggie Chips, are not only disrupting global markets but also significantly reducing environmental footprints. Available across the US and Canada in grocery retailers (Whole Foods Market, Sprouts Farmers Markets), through foodservice operators (CAVA Mediterranean restaurants - NYSE:CAVA), and e-commerce and alternative retail channels (Amazon, QVC), our products blend culinary innovation with advanced technology, offering breakthrough products with wide moats. Our products are poised to disrupt global food and beverage categories, make a positive impact on the world, and provide investors with valuable opportunities in the growing sustainable food market.
This is the food that Gen Z is demanding and that Gen Alpha will grow up with: this is the future of food.
Explore more at plantinghopecompany.com, sign up for Planting Hope news emails HERE and follow us on LinkedIn.
For Planting Hope product sales and distribution opportunities, please contact James Curley, EVP of Sales, at james@plantinghopecompany.com.
Contacts
Company Contact:
Julia Stamberger
CEO and Co-Founder
(773) 492-2243
julia@plantinghopecompany.com
Investor Relations + Media Contact:
Elyssia Patterson
VP of Investor Relations
(312) 675-4996
Elyssia@plantinghopecompany.com
Media Contact:
Corinn Williams
(773) 492-2243
Corinn@plantinghopecompany.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including, but not limited to, statements about the Company's ability to execute on its goals, the timing pertaining to these goals the potential demand for the Company's products, the timing and success of anticipated product launches and distribution of the Company's products, the Company's business prospects, future trends, plans, scalability and strategies, that the Company will achieve profitability in the next few years, the timing of the Company's implementation of NetSuite, and the Company's key growth priorities for 2023 . In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that demand for the Company's product will be sustained or increase in accordance with management's projections, that the Company's internal research and analysis is indicative of broader market trends and the Company's anticipated future demand for its products, that changes in consumer preferences in the plant-based food industry will continue in accordance with the Company's expectations, that the Company's current business objectives can be achieved and that its other corporate activities will proceed as expected, and that general business and economic conditions will not change in a materially adverse manner. Although the management of the Company believes that the assumptions made and the expectations represented by such forward-looking statements are reasonable, there can be no assurance that any forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the Company's annual information form dated January 6, 2022 and the Company's continuous disclosure record available on SEDAR at www.sedar.com. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
SOURCE: The Planting Hope Company Inc.
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