Planet Based issues 9.52M debt shares to Coenda

Executive Summary

• Coenda Investments Holding Corp. acquired 9,523,809 subordinate voting shares of Planet Based Foods Global Inc. to settle $500,000 in outstanding indebtedness.
• Following the transaction, Coenda’s ownership increased from approximately 49.15% to 54.86% of the issued and outstanding subordinate voting shares.
• The transaction was filed as an amended early warning report pursuant to National Instrument 62-104 and 62-103.

Key Details

• Acquirer: Coenda Investments Holding Corp. (controlled by Kerem Akbas).
• Target: Planet Based Foods Global Inc.
• Shares Acquired: 9,523,809 subordinate voting shares.
• Consideration: Settlement of outstanding indebtedness totaling $500,000.
• Pre-Transaction Ownership: 10,000,000 shares (approx. 49.15% of issued and outstanding subordinate voting shares).
• Post-Transaction Ownership: 19,523,809 shares (approx. 54.86% of issued and outstanding subordinate voting shares).
• Joint Actor Status: Kerem Akbas, controlling shareholder of the acquiror and director of the issuer, may be considered a joint actor with the acquiror; Mr. Akbas does not personally own any shares of the issuer.
• Future Intent: The acquiror reserves the right to acquire additional shares/equity/debt in the open market or otherwise and to dispose of any securities at any time.
• Regulatory Filing: Amended early warning report filed under National Instrument 62-104 and 62-103; available via SEDAR+.