CHICAGO, IL and VANCOUVER, B.C. / ACCESSWIRE / November 26, 2021 / The Planting Hope Company Inc. (TSXV:MYLK) ("Planting Hope" or the "Company") today announced that, in connection with the Company's previously completed initial public offering (the "Offering") of subordinate voting shares ("Shares"), Canaccord Genuity Corp. (the "Agent") has exercised its over-allotment option in full to purchase an additional 3,375,000 Shares at a price of $0.40 per Share. The sale of these additional Shares was completed today for gross proceeds of $1,350,000, bringing the aggregate gross proceeds from the Offering to $10,350,000.
In connection with the over-allotment option exercise, the Agent received a cash payment in the amount of $47,250, 118,125 Shares and 236,250 warrants (the "Agent Warrants"), each Agent Warrant is exercisable to acquire one Share (an "Agent Warrant Share") at an exercise price of $0.40 per share until November 26, 2023, of which 16,875 Agent Warrants and the Agent Warrant Shares issued on the exercise of such Agent Warrants are subject to a hold period and may not be traded until March 27, 2022 except as permitted by applicable securities legislation.
About The Planting Hope Company Inc.
Planting Hope develops, launches and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope's cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company with a focus on nutrition, sustainability and diversity. For more information visit: www.plantinghopecompany.com.
CEO and Co-founder
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 release.
SOURCE: The Planting Hope Company Inc.