Biotech


Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) ("Komo" or the "Company") announces that is has closed a non-brokered private placement (the "Placement") issuing 593,875 units of the Company ("Units") at a price of $1,000 per Unit. Each Unit consisted of a convertible unsecured debenture (the "Debenture") and 16,000 common share purchase warrants of the Company ("Warrants") for a total of 9,502,00 Warrants.

The Placement consisted of $502,000 of gross proceeds plus debt conversions of $91,875 for a total value of $593,875.

The Debentures will bear interest at a rate of 10% per annum on an accrual basis from issuance, calculated and payable semi-annually in arrears on May 31 and November 30 of each year with such payment commencing on November 30, 2022 with a redemption date that is 24 months from issuance (the "Maturity Date"). Interest may be paid in equity at a 15% discount to market at the option of the holder. The Debentures will be convertible in full or in part, at the holders' option, into common shares in the capital of the Company at a 15% discount to the 30 day moving average as at the Maturity Date, subject to CSE regulations, at a price not less than $0.05 per share, at any time prior to their redemption. Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.07 per share for a period of 36 months from the date of issue.

In connection with the Placement, the Company paid $36,000 of finders fees to a registered broker and issued 720,000 warrants to each purchase one common share of the Company at a price of $0.05 for a period of 24 months from the date of issue.

The shares underlying the Warrants, the Broker Warrants and the Debentures are subject to a statutory hold period expiring four months and one day from issuance of the underlying securities.

About Komo

Komo Plant Based Foods Inc. is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying, and made with wholesome ingredients. At Komo, our mission is to help make plant-based meals a staple on every dinner table by sharing our love for feel-good food that connects the people to the planet. We believe plant-based eating is the future and - Change can start with a single biteTM. Our experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100% plants. Komo's products are sold direct-to-consumer through our eCommerce website and a distribution network of online and brick and mortar grocery, convenience and natural retailer channels. Our operating subsidiary Komo Comfort Foods launched in 2021 with our flagship products: plant-based Lasagna, Shepherd's Pie and Chickenless Pot Pie and Komo Plant-Based Meal HelpersTM - versatile meal starters to allow the creation of many dishes at home. All of our products are 100% plant-based, made with wholesome ingredients, free from preservatives, and frozen for freshness. Komo's plant-based lasagna was awarded the Best New Vegan Product at the Natural Products Expo West Show in March 2022.

Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods

For further information, please contact:

William White, President & CEO, Komo Plant Based Foods Inc.
will@komoeats.com
1-866-969-0882

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or Komo's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Komo's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, Komo's ability to retain key personnel, its revenues, and its expectation as to the acceptance of its products by retailer stores and consumers constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Komo disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Click here to connect with Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB) to receive an Investor Presentation

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