PBIC Announces Closing of Management Company Insourcing

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Toronto, Ontario–(Newsfile Corp. – May 12, 2022) – Plant-Based Investment Corp. (CST: PBIC) (“PBIC“, or the “Company“) is pleased to announce that, pursuant to its press release dated May 6, 2022, the Company has acquired 100% of the issued and outstanding shares of CGOC Management Corp. (“Management company“) under a share purchase agreement (the “SPA“) with Four Eleven Technical Services Inc., Grayfor 2017 Trust and 2017 Blundell Family Trust (collectively, the “SellersManagement Corp. provides management services to the Company pursuant to the management agreement (the “Management contract“) dated January 16, 2018 between Management Corp. and PBIC.

Under the terms of the SPA, PBIC acquired the outstanding shares of Management Corp. from the sellers for an aggregate purchase price of $1,400,000 (Canadian dollars). The purchase price was satisfied by the sale, transfer and assignment to the Sellers by the Company of an aggregate of 31,650,000 common shares (“GRIN-Shares“) in the capital of Grown Rogue International Inc.

About Plant-Based Investment Corp.

Plant-Based Investment Corp. is an investment company that seeks to provide shareholders with long-term total returns through capital appreciation and periodic distributions by investing in an actively managed portfolio of securities of public and private companies that derive a portion of their revenues, profits, or intellectual property-based value of products, equipment, services, and/or technology related to the herbal industries, including the cannabis plant family and its various compounds, the mushroom industry (including medicinal, functional and psychedelics), superfoods and/or organic ingredient industries in addition to investing in specialty retail outlets, clinics and treatment centers focused on functional medicine and wellness.

Forward-looking statements

This press release contains certain forward-looking statements regarding the Company, including with respect to the timing and completion of the Acquisition. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, among others, the following risks: the risk that all of the conditions to closing the Acquisition will not be satisfied in order to meet the expected timing of the closing of the transaction or at all, the risks associated with the affairs of the Company and matters relating thereto and the risks associated with the Company’s investments and financial objectives, as well as other risks and uncertainties, including, but not limited to, those detailed from time to time. other in the Company’s public filings on SEDAR. Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made and the Company undertakes no obligation to update any forward-looking statements if such beliefs, estimates and opinions or Other circumstances were to change. Investors are cautioned against attributing undue certainty to forward-looking statements.

For more information, please contact:

Plant-based investment company.

Paul Crath
Chief executive officer
Such. : (647) 660-0566
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123860

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