Planet Based Foods Global Inc. Announces Closing of Debt Settlement Transactions with Related Parties
Planet Based Foods Global (OTC:PBFFF) has completed previously announced debt settlement transactions with related parties Baron Global Financial Canada and Coenda Investments Holding Corp. The company issued 15,238,094 subordinated voting shares to settle a CAD $800,000 debt at a deemed price of $0.0525 per share, representing a 25% discount to market price.
The shares are subject to a four-month statutory hold period. The company relied on exemptions from formal valuation and minority shareholder approval requirements due to serious financial difficulties, with the transactions designed to improve its financial position.
Planet Based Foods Global (OTC:PBFFF) ha completato le operazioni di estinzione del debito annunciate in precedenza con le parti correlate Baron Global Financial Canada e Coenda Investments Holding Corp. La societ脿 ha emesso 15.238.094 azioni subordinate con diritto di voto per saldare un debito di CAD $800.000 a un prezzo presunto di $0,0525 per azione, equivalenti a uno sconto del 25% rispetto al prezzo di mercato.
Le azioni sono soggette a un periodo di blocco statutario di quattro mesi. L鈥檕perazione si 猫 avvalsa delle esenzioni dai requisiti di valutazione formale e di approvazione da parte degli azionisti di minoranza a causa di gravi difficolt脿 finanziarie, ed 猫 stata pensata per migliorare la situazione patrimoniale della societ脿.
Planet Based Foods Global (OTC:PBFFF) ha completado las transacciones de liquidaci贸n de deuda anunciadas previamente con las partes relacionadas Baron Global Financial Canada y Coenda Investments Holding Corp. La compa帽铆a emiti贸 15.238.094 acciones subordinadas con derecho a voto para saldar una deuda de CAD $800,000 a un precio estimado de $0.0525 por acci贸n, lo que representa un descuento del 25% respecto al precio de mercado.
Las acciones est谩n sujetas a un periodo de retenci贸n estatutario de cuatro meses. La compa帽铆a se acogi贸 a exenciones de los requisitos de valoraci贸n formal y de aprobaci贸n de accionistas minoritarios debido a graves dificultades financieras; las operaciones buscan mejorar su posici贸n financiera.
Planet Based Foods Global (OTC:PBFFF)電� 甏�霠� 雼轨偓鞛愳澑 Baron Global Financial Canada 氚� Coenda Investments Holding Corp.鞕� 鞚挫爠鞐� 氚滍憸頃� 毂勲 鞝曥偘 瓯半灅毳� 鞕勲頄堨姷雼堧嫟. 須岇偓電� CAD $800,000鞚� 毂勲毳� 靸侁硠頃橁赴 鞙勴暣 15,238,094欤检潣 膦呾啀 鞚橁舶甓� 欤检嫕鞚� 氚滍枆頄堨溂氅�, 欤茧嫻 $0.0525鞚� 靻岇爼臧�搿� 氚滍枆霅橃柎 鞁滌灔 臧�瓴� 雽�牍� 25% 頃犾澑鞐� 頃措嫻頃╇媹雼�.
頃措嫻 欤检嫕鞚� 4臧滌洈鞚� 氩曥爼 鞚橂 氤挫湢 旮瓣皠鞚� 鞝侅毄霅╇媹雼�. 須岇偓電� 鞁皝頃� 鞛爼鞝� 鞏措牑鞗�鞙茧 鞚疙暣 鞝曥嫕 韽夑皜 氚� 靻岇垬欤检＜ 鞀轨澑 鞖旉贝鞐愳劀 氅挫牅毳� 鞝侅毄氚涭晿鞙茧┌, 鞚措矆 瓯半灅電� 鞛 靸來儨 臧滌劆鞚� 氇╈爜鞙茧 靹り硠霅橃棃鞀惦媹雼�.
Planet Based Foods Global (OTC:PBFFF) a finalis茅 les op茅rations de r猫glement de dettes annonc茅es pr茅c茅demment avec les parties li茅es Baron Global Financial Canada et Coenda Investments Holding Corp. La soci茅t茅 a 茅mis 15 238 094 actions subordonn茅es avec droit de vote pour solder une dette de CAD $800 000 脿 un prix r茅put茅 de $0,0525 par action, soit une d茅cote de 25 % par rapport au cours du march茅.
Les actions sont soumises 脿 une p茅riode de blocage statutaire de quatre mois. La soci茅t茅 s鈥檈st pr茅value des exemptions relatives aux obligations d鈥櫭﹙aluation formelle et d鈥檃pprobation des actionnaires minoritaires en raison de graves difficult茅s financi猫res ; les op茅rations visent 脿 am茅liorer sa situation financi猫re.
Planet Based Foods Global (OTC:PBFFF) hat die zuvor angek眉ndigten Schuldenbereinigungs-Transaktionen mit den verbundenen Parteien Baron Global Financial Canada und Coenda Investments Holding Corp. abgeschlossen. Das Unternehmen gab 15.238.094 nachrangige stimmberechtigte Aktien aus, um eine Schuld von CAD $800.000 zu begleichen, zu einem angenommenen Preis von $0,0525 pro Aktie, was einem Abschlag von 25 % auf den Marktpreis entspricht.
Die Aktien unterliegen einer viermonatigen gesetzlichen Sperrfrist. Das Unternehmen nutzte Ausnahmen von formellen Bewertungs- und Minderheitsaktion盲rszustimmungsanforderungen aufgrund schwerer finanzieller Schwierigkeiten; die Transaktionen dienen der Verbesserung der finanziellen Lage.
- Elimination of CAD $800,000 in debt obligations
- Improvement of company's balance sheet through debt-to-equity conversion
- No immediate cash outlay required for debt settlement
- 25% discount to market price on share issuance indicates financial distress
- Significant shareholder dilution through issuance of 15.2M new shares
- Company acknowledged being in serious financial difficulty
- Related party transactions may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) (the "Company") announces that, further to its news release of August 20, 2025, it has now completed its previously announced debt settlement transactions (the "Transactions") with each of Baron Global Financial Canada Ltd. ("Baron") and Coenda Investments Holding Corp. ("Coenda"), executed definitive debt settlement agreements (the "Debt Settlement Agreements") with each of Baron and Coenda (together, the "Creditors").
Pursuant to definitive debt settlement agreements entered into with the Creditors, the Company has issued an aggregate of 15,238,094 subordinated voting shares (the "Shares") to settle bona fide indebtedness of CAD
All Shares issued in connection with the Transactions are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
The Creditors are "related parties" of the Company, and as such, the Transactions constituted "related party transactions" within the meaning of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(g) and 5.7(1)(e) thereof on the basis that the Company was in serious financial difficulty, the Transactions were designed to improve the financial position of the Company, and the terms of the Transactions were reasonable in the circumstances.
About Planet Based Foods Global Inc.
Planet Based Foods Global Inc. is reimagining the future of food through a diverse portfolio of sustainable ingredients, plant-based solutions, and advancements in agricultural technology. With a focus on environmental stewardship, product excellence, and scalable impact, the Company empowers food manufacturers, partners, and consumers to participate in a cleaner, healthier, and more resilient global food system. Planet Based Foods operates with integrity and purpose, delivering products that align with evolving consumer values and contribute to a more sustainable future.
Additional information is available at .
On Behalf of the Board
Claire Skillen
Chief Executive Officer and President
Contact: [email protected]
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding future plans, strategies, objectives, expectations, and intentions of Planet Based Foods Global Inc. (the "Company"). These statements are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, without limitation, industry developments, regulatory changes, access to capital, operational challenges, supply chain disruptions, and economic conditions. Actual results may differ materially from those expressed or implied in forward-looking statements. Readers are cautioned not to place undue reliance on these statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by law.
Additional information, including risk factors, is available in the Company's public filings on SEDAR+ at .
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this release and accepts no responsibility for its adequacy or accuracy.
To view the source version of this press release, please visit
FAQ
What is the value of PBFFF's debt settlement transaction announced in August 2025?
How many shares did Planet Based Foods (PBFFF) issue for the debt settlement?
What was the discount applied to PBFFF shares in the debt settlement?
Why did Planet Based Foods (PBFFF) not require minority shareholder approval for this transaction?
How long is the hold period for the shares issued in PBFFF's debt settlement?
