Komo Plant Based Foods Announces Closing of Private Placement of $0.14 Units

Komo Plant Based Foods Announces Closing of Private Placement of $0.14 Units

Komo Plant Based Foods Inc. (CSE:YUM)(OTCQB:KOMOF)(FRA:9HB) ("Komo" or the "Company") announces closing of a non-brokered private placement financing with a total value of $1,080,252 at a price of $0.14 per unit (each, a "Unit"). Each Unit issued in the Placement consisted of one common share of the Company (each, a "Share") and one share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one Share at a price of $0.20 per Share for a period of 24 months from the date of issuance

On February 11, 2022, the Company completed a private placement issuing 7,008,625 Units for gross proceeds of $981,208 (the "Placement") and the Company issued 707,458 Units on February 16, 2022 to convert an aggregate amount of $99,044 of debt owing to consultants of the Company (the "Debt Conversion"). The total amount of Units issued pursuant to the Placement and Debt Conversion is 7,716,110. $200,000 of the proceeds raised in the Placement were from a related party.

The Company paid finder's fees to an arm's length party that introduced the Company to subscribers participating in the Placement (the "Finder") equal to 8% cash and 8% finder's warrants with each finder's warrant exercisable into a Share at $0.14 per Share ("Finder's Warrants"). The Company paid Finder's Fees of $20,000 and issued 142,857 Finder's Warrants.

All securities issued in connection with the Placement are subject to a four-month and one day hold period in Canada from the date of the issuance of that security (the "Hold Period"). The securities are restricted from trading during the Hold Period.

The Company intends to use the net proceeds of the Placement for operations and expansion across Canada and the United States.

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 has recently launched a new line - 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. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have a 1-year frozen shelf life. Komo also sells ready-to-eat meals in Metro Vancouver through Uber Eats and Skip the Dishes.

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 forwardlooking 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 product development plans, its ability to launch its products on food delivery apps, its 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.

SOURCE:Komo Plant Based Foods Inc.



View source version on accesswire.com:
https://www.accesswire.com/689244/Komo-Plant-Based-Foods-Announces-Closing-of-Private-Placement-of-014-Units

News Provided by ACCESSWIRE via QuoteMedia

YUM:CC
The Conversation (0)
Komo Expands Frozen Meal Line to Fortinos Stores in Toronto

Komo Expands Frozen Meal Line to Fortinos Stores in Toronto

Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) ( the "Company", "Komo"), Komo Plant Based Foods Inc. Expands Frozen Meal Line to All 9 SKUs in Fortinos Stores in Toronto.

Komo Plant Based Foods Inc., a premium, fast-growing plant-based food products manufacturer, is thrilled to announce the expansion of their frozen meal line to all 9 SKUs in Fortinos stores across the Greater Toronto Area (GTA). The partnership will make Komo's delicious and nutritious plant-based meals more accessible to families in Toronto, helping to make healthy meal planning more convenient and affordable.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Komo Plant Based Foods Reports Impressive Revenue Growth with a 160% Increase in Q2

Komo Plant Based Foods Reports Impressive Revenue Growth with a 160% Increase in Q2

Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOD) (FSE: 9HB) ("Komo"), a premium plant-based food company, is pleased to announce it achieved record revenues for its second financial quarter ended January 31, 2023. Komo generated revenues of $466,197 in the quarter, which is a 160% increase from the first quarter revenues of $179,467. The increase is attributed to Komo's recent growth across Canada with its retail distribution through Loblaws, Loblaws banner stores, Sobeys, Whole Foods and key natural accounts. This also represents a 181% increase from last year's Q2 report which had revenue of $166,052. Komo reported a gross profit margin of 39% in Q1 of 2023.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Komo Expands Across Canada with Whole Foods Market

Komo Expands Across Canada with Whole Foods Market

Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) (the "Company", "Komo"), a premium plant‐based food company, reports planned expansion across Canada with Whole Foods Market.

Komo Plant Based Foods Inc., a fast growing plant-based food products manufacturer, announces today that it will be expanding its presence in Canada through additional distribution at Whole Foods Markets. Komo's line of frozen meals and meal helpers will now be available in all 14 Whole Foods Market locations in Canada, with the newly expanded listings to be on shelves by May of 2023.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Komo Doubles Retail Distribution to 840 Stores

Komo Doubles Retail Distribution to 840 Stores

Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) (the "Company", "Komo"), a premium plant‐based food company, reports significant growth in the number of retail stores carrying Komo products with an increase of over 100% in 3 months.

Komo Plant Based Foods Inc., a fast-growing plant-based food products manufacturer, announces a 100% increase in retail distribution since November of 2022, now available in 840 grocery retail locations across Canada. This impressive growth includes Loblaw's and Loblaws' banner stores and the addition of 50 new retail stores in January 2023, including Georgia Main Group (IGA West and Fresh St. Market), Sobey's West, Safeway and Freson Brothers locations in western Canada, and key natural accounts such as Boites à Grain in Quebec.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Komo Reports Q1 Financial Results

Komo Reports Q1 Financial Results

Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) ( the "Company", "Komo"), a premium plant‐based food company, reports financial results for the quarterly period ended October 31, 2022.

FINANCIAL RESULTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

AMGEN ANNOUNCES 2025 FIRST QUARTER DIVIDEND

Amgen (NASDAQ:AMGN) today announced that its Board of Directors declared a $2.38 per share dividend for the first quarter of 2025. The dividend will be paid on March 7, 2025 to all stockholders of record as of the close of business on February 14, 2025 .

About Amgen
Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
CLEO Further Expands Ovarian Cancer Trial with Siles Health

CLEO Further Expands Ovarian Cancer Trial with Siles Health

Cleo Diagnostics (COV:AU) has announced CLEO Further Expands Ovarian Cancer Trial with Siles Health

Download the PDF here.

BLINCYTO® ADDED TO CHEMOTHERAPY SIGNIFICANTLY IMPROVES SURVIVAL IN NEWLY DIAGNOSED PEDIATRIC PATIENTS WITH B-CELL PRECURSOR ACUTE LYMPHOBLASTIC LEUKEMIA

Phase 3 Study Results Demonstrated Three Year, Disease-Free Survival of 96%

Amgen (NASDAQ:AMGN) today announced new data demonstrating that adding BLINCYTO ® (blinatumomab) to chemotherapy significantly improves disease-free survival (DFS) in newly diagnosed pediatric patients with National Cancer Institute (NCI) standard risk (SR) B-cell acute lymphoblastic leukemia (B-ALL) of average or higher risk of relapse. The data are from a Phase 3 study (AALL1731) conducted by the Children's Oncology Group. The results were simultaneously published in the New England Journal of Medicine and will be presented during the plenary session on Sunday, Dec. 8 at 2 p.m. PT at the 66 th American Society of Hematology (ASH) Annual Meeting & Exposition in San Diego .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

AMGEN ANNOUNCES $1 BILLION MANUFACTURING EXPANSION IN NORTH CAROLINA

Investment Establishes Second Facility in Holly Springs ; Builds on Previous $550M Commitment

Amgen (NASDAQ: AMGN) today announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina . This brings the company's total planned investment in Holly Springs to more than $1.5 billion building on its previously announced $550 million commitment.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×