Plantify Foods Inc. Updates Terms of Acquisition with Smart Repair Pro, Involving New Payment Structure and Stock Exchange Listing Plans

Reuters
08-01
Plantify Foods Inc. Updates Terms of Acquisition with Smart Repair Pro, Involving New Payment Structure and Stock Exchange Listing Plans

Plantify Foods Inc. has provided an update on its proposed acquisition of Smart Repair Pro, a California corporation owned by Jeffs' Brands Ltd. The company announced an amendment to the initial share purchase agreement, which includes adjustments to the purchase price for Smart Repair Pro. The revised agreement outlines that 49,300,000 common shares of Plantify will be issued at a deemed price of $0.30 per share, representing 78% of the company's post-transaction shares. Additionally, 45,000,000 contingent value rights will be issued, allowing holders to acquire common shares upon meeting specified milestones. These milestones include listing the company's securities on a US Exchange within 24 months, raising at least US$8,000,000 within 48 months, and reaching annual revenues of US$8,000,000 within 36 months. The transaction remains subject to TSXV acceptance, with trading of Plantify's shares currently halted pending certain filings.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plantify Foods Inc. published the original content used to generate this news brief via TheNewswire (Ref. ID: 1BglFdV95) on August 01, 2025, and is solely responsible for the information contained therein.

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