Planet Based Foods Global Inc. announced a non-brokered private placement of 675 units at a price of CAD 1,000 per unit for aggregate proceeds of up to CAD 675,000 on June 26, 2023. Each unit will consist of CAD 1,000 principal amount of 10% unsecured convertible debentures and 5,000 subordinate voting share purchase warrants. Each convertible debenture is convertible at the holder's option into fully-paid subordinate voting shares of the company at any time prior to the maturity date at a conversion price of CAD 0.10 per Share.

Each warrant is exercisable into one share of the company at an exercise price of CAD 0.20 for a period of 24 months following the closing date of the transaction.