Planting Hope Announces Private Placement of Convertible Note Units
The Company announces a private placement opportunity for convertible note units for aggregate gross proceeds of up to $5,000,000 USD (~$6.7M CAD).CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / October 7, 2023 / The Planting Hope Company Inc. …
- The Company announces a private placement opportunity for convertible note units for aggregate gross proceeds of up to $5,000,000 USD (~$6.7M CAD).
CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / October 7, 2023 / The Planting Hope Company Inc. (TSXV:MYLK)(OTCQB:MYLKF)(FRA:J94) ("Planting Hope" or the "Company"), a FoodTech innovation company focused on leveraging cutting-edge ingredient, formulation, and packaging technology to develop breakthrough sustainable food and beverage solutions, is pleased to announce a non-brokered private placement (the "Offering") of up to US$5,000,000 of convertible note units of the Company (the "Units") at a price per Unit of US$1,000 under US SEC Regulation D 506(c), open to accredited investors in the United States and to international investors outside of Canada.
Strategic Inflection: Planting Hope's Focused Pivot to U.S. Capital Markets
In the shadow of ongoing Canadian small-cap fundraising challenges, Planting Hope is actively redirecting its approach to driving investor awareness and broadening its investor base. Founded in Chicago, IL which continues to be its base of business operations, Planting Hope has a deep network in the United States, and its products are extensively distributed throughout US retailers and foodservice operators, including Whole Foods Markets and CAVA Mediterranean Restaurants (NYSE: CAVA). The Company is launching this US-focused Offering to engage more deeply with US-based accredited investors, and both fortify the Company's financial base and expand its market position.
"We believe that the capital markets are currently under-appreciating the enormous potential being built and expanded daily at Planting Hope, calling for a strategic pivot to recognize and capitalize on the breakthrough innovation of our products and their value-creation opportunities for investors ahead," states Planting Hope CEO and Co-founder Julia Stamberger.
Lesen Sie auch
"We believe that our products are exactly on-trend and exceedingly well positioned: Gen Z is actively seeking out better-for-you products that deliver on both taste and sustainability, and are voting with their food and beverage dollars; the markets where our products are scaling fastest, foodservice and grocery retail, are also the markets where growth is being accelerated by current economic conditions, where consumers are trading off ‘sit down' restaurant dining for fast-casual concepts and holding strong to their morning coffee indulgence in the face of other budget cuts," Ms. Stamberger continues. "We have built a strong base of transactionally profitable revenue and clients, and these channels are experiencing increased demand; with the appropriate resources in place, we foresee significant opportunities to scale ahead, and our team is prepared to hit the accelerator on delivering on these enormous opportunities for profitable growth."