Planet Based Foods Global Inc., a producer of plant-based food alternatives, has announced a non-brokered financing of up to CAD 675,000 (~USD 514,134) via units at CAD 1,000 (~USD 762) per unit.

Each unit will comprise of a CAD 1,000 (~USD 762) principal amount of 10% unsecured convertible debentures and 5,000 subordinate voting share purchase warrants of the company.

The proceeds will be used for general working capital and corporate purposes.

Each convertible debenture offers the option to be converted into fully paid subordinate voting shares at a conversion price of CAD 0.10 (~USD 0.08) per share before maturity, and each warrant is exercisable into one company share at an exercise price of CAD 0.20 (~USD 0.15), with a maturity date of 24 months from the date of issuance.