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Plantify Foods Inc ( (TSE:PTFY) ) just unveiled an announcement.
Plantify Foods Inc. has closed a non-brokered private placement, raising gross proceeds of $1,764,000 through the issuance of 19,600,000 units at $0.09 per unit, each comprising one common share and a warrant exercisable at $0.12 for 36 months. The financing is subject to final TSX Venture Exchange approval and includes a finder’s fee of 2,450,000 shares and $145,530 in cash to Amir Uziel Economic Consultant Ltd.
The company plans to use the new capital to cover transaction costs, repay certain creditors, fund due diligence and other expenses related to pursuing a potential new business acquisition, and support an estimated 12 months of overhead. The raise provides Plantify with a strengthened balance sheet and operational runway as it begins a search for acquisition targets that could reshape its business profile and strategic direction.
More about Plantify Foods Inc
Plantify Foods Inc., listed on the TSX Venture Exchange under the symbol PTFY, operates in the food sector with a focus on plant-based products. The Vancouver-based company targets consumers seeking alternatives to traditional animal-based foods, positioning itself within the growing market for sustainable and health-oriented food options.
Average Trading Volume: 23,676
Technical Sentiment Signal: Sell
Current Market Cap: C$2.17M
See more insights into PTFY stock on TipRanks’ Stock Analysis page.