PlantFuel Life Announces Set-off Agreements, Cancellation of Shares and Share for Services
PlantFuel Life Announces Set-off Agreements, Cancellation of Shares and Share for Services
Mississauga, Ontario – TheNewswire - September 29, 2021 - PlantFuel Life Inc. (CSE:FUEL) (CSE:FUEL) (OTC:BLLXF) (FSE:BR1B) (the "Company") announces that, further to its news release dated April 3, 2020 announcing loan agreements with each of 1610896 Ontario Inc. (a company owned and operated by Domenic Crudo, the former CFO of the Company), Natural Lines Inc. (a company owned and operated by Michael Lines, a director of the Company), and Layton Hipfner (the Master Grower of the Company) (together, the "Debtors"), the Company has entered into set-off agreements with each Debtor to set-off the loan amounts of $350,000 each owing to the Company by each Debtor against the surrender and cancellation of 700,000 post-consolidated common shares (the "Shares") of the Company by each Debtor.
安大略省密西索加-新聞通訊社-2021年9月29日-PlantFuel Life Inc.(CSE：Fuel)(CSE：燃料)(場外交易代碼：BLLXF)(證券交易所代碼：BR1B)(“公司”)宣佈，繼其於2020年4月3日發佈的新聞稿宣佈與安大略省1610896公司(由本公司前首席財務官Domenic Crudo擁有和運營的公司)、Natural Lines Inc.(由本公司董事Michael Lines擁有和運營的公司)和Layton Hipfner(本公司的主要種植者)(合計，“債務人“)，本公司已與每名債務人訂立抵銷協議，以抵銷每名債務人欠本公司的每筆350,000美元的貸款額，以抵銷700,000股合併後普通股(”股票“)由每名債務人向本公司提出申請。
The Company confirms that a total of 2,100,000 Shares were cancelled and returned to treasury and, henceforth, the Company has released the Debtors of all obligations in connection with the loans.
本公司確認，共有2,100,000股股份被註銷並歸還庫房，此後，本公司已解除與貸款有關的所有債務的債務人。
Additionally, the Company announces that pursuant to an agreement (the "Agreement") entered into with a consultant (the "Consultant"), it proposes to issue an aggregate of 107,974 common shares (the "Shares") of the Company at a deemed price of $0.295 per Share for past services provided by the Consultant to settle fees of US$25,000 (CAD$31,852.50) owing to the Consultant.
此外，本公司宣佈，根據一項協議，(“協議書“)與顧問訂立(”顧問“)，它建議發行總計107,974股普通股(”股票“)，當作價格為$每股0.295加元，用於支付顧問過往支付給顧問的25,000美元(31,852.50加元)費用。
All Shares are subject to a mandatory four month hold period from the date of issuance.
所有股票均須自發行之日起計四個月的強制性持有期。
About PlantFuel Life Inc.
PlantFuel Life Inc.簡介
PlantFuel Life Inc is a scientifically focused plant-based wellness company managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. FUEL is a CPG life science company focused on the plant-based foods and supplements industry. https://plantfuel.com/
PlantFuel Life Inc是一家專注於科學的植物性健康公司，由一羣在消費品包裝、製造、物流和分銷領域擁有豐富經驗的成功企業家管理。Fuel是一家CPG生命科學公司，專注於植物性食品和補充劑行業。Https://plantfuel.com/
Media Contact: ir@plantfuel.com
媒體聯繫方式：ir@Plant fuel.com
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
加拿大證券交易所(“CSE“)既不批准也不反對本新聞稿的內容。CSE及其市場監管機構(該詞在CSE的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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