New York, New York--(Newsfile Corp. - January 24, 2023) - Plantable® Health Inc. (NEO: PLBL) (OTCQB: PLBLF) ("Plantable" or the "Company") today announced that the Board of Directors of the Company (the "Board"), with the support of management, has begun a comprehensive review of the Company's strategic alternatives.
The Board is currently exploring various strategic alternatives, including but not limited to, a potential sale of the Company and/or its assets, and/or commencing an orderly process to dispose of the Company's assets and settle any outstanding liabilities with the goal of optimizing return to shareholders. The Board is consulting with external advisors regarding such alternatives.
"The Board is cognizant of the Company's operating cash flow, limited cash-on-hand and lack of current funding opportunities, and believe it is prudent and in the best interests of shareholders to evaluate all strategic options," said Dr. Nadja Pinnavaia, Founder and CEO of Plantable.
Coinciding with initiating the strategic review, and in an effort to reduce operating costs, the Company is eliminating the following senior management positions, including Chief Marketing Officer, Chief Growth Officer and Vice President of Operations. The effective date is February 3, 2023. Ms. Udaskin, who has served as Chief Marketing Officer, will remain on the Board of Directors.
Plantable will keep the shareholders and the public apprised of any material events and changes as appropriate.
About Plantable® Health Inc.
Plantable is a clinically supported, lifestyle intervention program that combines behavioral psychology, neuroscience, and nutritional science to transform health and wellness. Plantable drives healthy weight loss and an improvement in health, and well-being through effective behavior change. Plantable's efficacy is predicated upon the scientific foundation of plant-based nutrition, personalized coaching support and lifestyle educational tools to empower people to change their dietary habits. To view the Company's products and become a customer, please visit plantable.com or click the link here: https://plantable.com
If you are interested in investing in the Company and would like more information, please visit: https://www.plantable.com/investor-relations
On behalf of the Board of Directors,
Dr. Nadja Pinnavaia
Chief Executive Officer
For investor inquiries please contact:
Corporate Communications and Investor Relations
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements as defined under applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements, see "Notice to Investors - Forward-Looking Information" and "Risk Factors" in the Prospectus. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
SOURCE Plantable® Health Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152320