- Plant-based food and beverage company focused on producing the world's most nutritious and planet-friendly products
- All-women Board and C-suite, one of the first on any listed exchange in Canada and amongst very few globally
- Flagship brand Hope and Sesame® is the first commercially available sesamemilk worldwide and one of the only plant milks nutritionally comparable to dairy milk
- Focused on delivering three core impact missions: nutrition, sustainability and representation, mapped to six UN Sustainable Development Goals
CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / November 15, 2021 / The Planting Hope Company Inc. ("Planting Hope" or the "Company") is pleased to announce, following completion of its successful initial public offering, that its subordinate voting shares ("Shares") have been listed on the TSX Venture Exchange (the "TSX-V") under the ticker symbol "MYLK" and are expected to begin trading at market open on November 18, 2021.
"We are not your average IPO. We are passionate about the planet, we care about what we consume and creating value for our owners is our top priority," said Julia Stamberger, CEO and Co-Founder of Planting Hope. "We are proudly growing a company focused on the world's most nutritious and planet-friendly plant-based food and beverages. Our mission is to make an impact."
Julia continued, "We are disrupting the entire industry with our sesamemilk: all of the nutrition, none of the dairy and sustainable for the planet - we believe sesamemilk is the liquid gold of plant-based milks. We are proud to begin trading on the TSX-V and to be accessible to all investors aligned with our vision to become the world's most nutritious and planet-friendly plant-based food and beverage company. This financing provides us with significant resources to scale, launch new and innovative products and disrupt the entire plant-based food industry."
How We're Changing the World
- Our Hope and Sesame® sesamemilk brand is a more nutritious and more sustainable plant-based milk made from sesame seeds. Sesame requires comparatively little water and resources to cultivate; it is drought resistant and naturally pest-resistant and bee-friendly. Our sesamemilk upcycles the by-product of sesame oil extraction, the most nutritious part of the seed.
- We have invested substantially over several years in research and development and formulation with top flavorists and beverage scientists to develop and refine sesamemilk.
- We use proprietary formulas that incorporate new ingredients and processing technology to consistently deliver a balance of taste, nutrition and planet-friendly practices to our consumers.
- Our supply chain has been developed to scale, with high-quality ingredient suppliers and production partners and we have established Hope and Sesame® sesamemilk with major distributors (UNFI, Kehe) and key retailers (Kroger, Sprouts, Whole Foods Market Canada, Amazon).
- Our innovative award-winning brands span fast-growth categories, including plant-based snacks. We have a full product pipeline staged which we expect to begin rolling out over the next two quarters, including new sesamemilk flavors and formats, plus breakthrough product and sustainable packaging innovation from our two plant-based snack brands, Veggicopia and Mozaics.
See how Planting Hope and the magic of sesame seeds are delivering better nutrition and a better tomorrow at https://vimeo.com/639173195?embedded=true&source=vimeo_logo&owner=154942344.
A Plant-Based Food & Beverage Powerhouse
Our all-women executive team and Board of Directors is composed of high-pedigree experienced food and beverage experts, and we will be one of the first TSX-V listed companies with an all-women executive team and Board:
- Julia Stamberger, CEO and Co-Founder: A serial entrepreneur with over 20 years of experience developing disruptive consumer products, complex supply chains, business models and strategies.
- Susan Walters-Flood, COO: Over 20 years experience as an entrepreneur and strategic leader in specialty food ingredients and contract manufacturing.
- Kohmela Grier, CFO: A financial leader experienced in bringing organizations through a path to profitability and exceptional growth.
- Mara Ebert, CSO: History of executing sales strategies and successful brand launches across channels, specializing in fast-growth, better-for-you emerging food and beverage brands.
- Saundra Linn, Lead Director: Principal at GEM Insight Consulting. Served as Chief Operating Officer at dunnhumby Canada, SVP Retail at dunnhumby USA, SVP Client Leadership at 84.51° (Kroger) and VP Operations Strategy at FedEx Kinko's.
- Kay Wong-Alafriz, Director (Audit Chair): Chief Financial Officer at Kabam with significant public Board and Audit Committee experience. Prior roles include SVP Finance & Operations at Mobetize, SVP Finance & Enterprise Risk Management and Property CFO at Asian Coast Development Ltd.
- Shelley Diamond, Director: Chief Marketing Officer at UNICEF USA. Prior roles include Global Chief Client Officer at Young & Rubicam/WPP supporting several large global food & beverage clients and President and Managing Director at Young & Rubicam NY.
- Amanda Helming, Director: Chief Marketing Officer at United Natural Foods (UNFI). Prior roles include Chief Marketing Officer at UNO Restaurants, VP Brand Strategy, Global Consumer Insights & Pricing at Dunkin' Brands, Brand Marketing at General Mills and Business Strategy at Disney/ESPN Media Networks.
Details of the IPO
- On November 12, 2021, Planting Hope completed its initial public offering through the sale of 22,500,000 Shares at a price of $0.40 per Share (the "Offering Price") for gross proceeds of $9,000,000 (the "Offering"). The Shares are listed on the TSX-V and are expected to begin trading at market open on November 18, 2021 under the symbol "MYLK".
- Canaccord Genuity Corp. (the "Agent") acted as agent in connection with the Offering. In consideration for its services under the Offering, the Agent received a cash payment in the amount of $315,000, 787,500 Shares and 1,575,000 warrants (the "Agent Warrants"), each Agent Warrant is exercisable to acquire one Share (an "Agent Warrant Share") at an exercise price of $0.40 per share until November 12, 2023, of which 112,500 Agent Warrants and the Agent Warrant Shares issued on the exercise of such Agent Warrants are subject to a hold period and may not be traded until March 13, 2022 except as permitted by applicable securities legislation.
- The Agent has also been granted an over-allotment option to purchase up to an additional 3,375,000 Shares at the Offering Price for additional gross proceeds of up to $1,350,000 (the "Over-Allotment Option"). The Over-Allotment Option can be exercised for a period of up to 30 days from the closing date of the Offering.
- Further information about the Company and the Offering can be found in the Company's final prospectus dated October 29, 2021 (the "Prospectus"), as filed under the Company's profile on SEDAR at www.sedar.com.
We Love to Hear from our Owners
To receive news and updates about Planting Hope, visit: www.plantinghopecompany.com.
Engagement with irlabs
Planting Hope is also pleased to announce that it has entered into an agreement with IR Labs Inc. ("irlabs") to provide the Company with investor relations services, particularly with developing and managing a comprehensive investor relations and corporate communications program, as well as supporting corporate governance activities. Either party may terminate the agreement at any time by providing the other party with 30 days' prior written notice. The agreement is subject to TSX-V approval.
irlabs has been retained on a month-to-month basis at a monthly fee of $10,000 plus reasonable out of pocket expenses for its services. The Company has also agreed, subject to TSX-V approval, to grant 200,000 incentive stock options to irlabs, at an exercise price and with vesting periods to be determined by the Company subject to the terms and conditions of the Company's stock option plan and the TSX-V policies.
About The Planting Hope Company Inc.
Planting Hope develops, launches and scales uniquely innovative plant-based and planet-friendly food & beverage brands. Planting Hope's cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company with a focus on nutrition, sustainability and diversity. For more information visit: www.plantinghopecompany.com.
Contact
Julia Stamberger
CEO and Co-founder
(773) 492-2243
julia@plantinghopecompany.com
Caroline Sawamoto
Investor Relations
(773) 492-2243
ir@plantinghopecompany.com
This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that Company expects or anticipates will, or may, occur in the future, including statements about Company's ability to execute on its goals, the timing pertaining to these goals and receipt of applicable consents and approvals, and Company's business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "proposes", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", "anticipate" or the negative of those words or other similar or comparable words. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the Prospectus and the Company's continuous disclosure record available on SEDAR at www.sedar.com. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
SOURCE: The Planting Hope Company Inc.
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