VANCOUVER, BC, Aug. 15, 2022 /CNW/ - Planet Based Foods Global Inc. (CSE: PBF) (OTCQB: PBFFF) (FRA: AZ0) ("PBFG", "Planet Based Foods" or the "Company") is pleased to announce that the board of directors of the Company has adopted an advance notice policy (the "Advance Notice Policy"), establishing a framework for advance notice of nominations of directors by shareholders of the Company.
The purpose of this Advance Notice Policy is to provide shareholders, directors and management of the Company with direction on the nomination of directors. The Advance Notice Policy is the framework by which the Company seeks to fix a deadline by which holders of record of subordinate voting shares and multiple voting shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.
With respect to the annual and special meeting of shareholders of the Company to be held on September 29, 2022 (the "Meeting"), notice of any proposed nominations must be provided to the Company no later than August 30, 2022.
For all subsequent meetings of shareholders of the Company:
In the case of an annual meeting of shareholders, notice of a director nomination must be given to the Company not less than 30 days nor more than 65 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is called for a date that is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the Nominating Shareholder may be made not later than the tenth (10th) day following the Notice Date.
In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors (whether or not called for other purposes), notice of a director nomination must be given to the Company no later than the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.
The Advance Notice Policy is effective immediately. At the Meeting, the Company is seeking shareholder approval and ratification of the Advance Notice Policy. In the event that shareholders determine not to ratify the Advance Notice Policy by ordinary resolution, the Advance Notice Policy shall terminate and be void and of no further force and effect following the termination of the Meeting.
A copy of the Advance Notice Policy is available under the Company's profile at www.sedar.com and a copy and a summary of the Advance Notice Policy will be included in the management information circular, which will be sent to shareholders in due course.
To view information about the Company and subscribe to automated email alerts for future news and public filings, visit the Planet Based Foods website at www.planetbasedfoods.com.
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About Planet Based Foods
PBFG, through its wholly-owned subsidiary in San Diego, California, Planet Based Foods, is a producer of sustainable plant-based meat substitutes. Planet Based Foods was founded in 2018 in San Diego, California. With a mission to build a better food system by providing hemp-formulated superfood products to people today that support our planet tomorrow, all Planet Based Foods products are 100% vegan.
ON BEHALF OF THE BOARD
President, Chief Executive Officer and Director
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Planet Based Foods
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