Planting Hope Announces Conversion of Outstanding Convertible Notes

CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / November 14, 2022 / The Planting Hope Company Inc. (TSXV:MYLK)(FRA:J94) ("Planting Hope" or the "Company"), a plant-based food and beverage company focused on producing the world's most nutritious and planet-friendly products, is pleased to announce it has completed the conversion of its outstanding convertible promissory notes (the "Convertible Notes"). Pursuant to the conversion, approximately $4.825 million aggregate principal amount of Convertible Notes converted automatically at maturity resulting in the issuance of an aggregate of 17,303,568 subordinate voting shares of the Company. In accordance with their terms, Convertible Notes held until maturity converted at a 30% discount to the Company's initial public offering price.

"The conversion of the convertible notes strengthens our balance sheet and eliminates interest payments as we continue our ongoing efforts to create shareholder value," said Julia Stamberger, CEO and Co-founder of Planting Hope. "We would like to thank all of our early investors who have supported Planting Hope in our many accomplishments to date."

About The Planting Hope Company Inc.

Planting Hope develops, launches, and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope's award-winning and cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. The Planting Hope brand family includes Hope and Sesame® Sesamemilk, Barista Blend Sesamemilk, and Sesamilk™ creamers, RightRice® Veggie Rice, Mozaics™ Real Veggie Chips, and Veggicopia® Veggie Snacks. Products from Planting Hope brands are available in more than 9,000 doors and more than 50,000 total distribution points at grocery retailers throughout North America, and are carried by key distributors to grocery, foodservice, and cafés. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company focused on nutrition, sustainability, and diversity.

For more information about Planting Hope and where to find its award-winning plant-based brands please visit plantinghopecompany.com, sign up for Planting Hope news emails HERE and follow on LinkedIn. An informational webinar on The Planting Hope Company from CEO and Co-founder Julia Stamberger is available HERE. To follow the brands on Instagram and Facebook, please visit: @hopeandsesameco, @veggicopia, @rightrice, @mozaicschips.