Vancouver, B.C. – January 25, 2023: Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) ( the “Company”, “Komo”), a premium plant‐based food company, announces that, effective at the opening of trading on January 30, 2023 (the "Effective Date") the common shares of the Company (the "Common Shares") will commence trading on the Canadian Securities Exchange on a consolidated basis, with one (1) post-consolidated Common Share outstanding for every ten (10) pre-consolidated Common Shares (the "Consolidation"). The Company's name and trading symbol will remain unchanged.
As a result of the Consolidation, on the Effective Date, a total of approximately 9,709,102 Common Shares will be issued and outstanding, subject to adjustments for rounding, with approximately 7,276,992 Common Shares reserved for issuance. No fractional Common Shares will be issued, and any post-consolidated fraction of a Common Share will be rounded to the nearest whole number of Common Shares. The name of the Company has not been changed, and the trading symbol remains as "YUM". A new CUSIP number has been issued for the post-consolidated Common Shares, being 50046B205.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding convertible instruments will be proportionately adjusted upon the effectiveness of the Consolidation. In accordance with the Company’s Articles, the Consolidation does not require shareholder approval.
Shareholders of record as of the Effective Date who hold Common Shares represented by a DRS (direct registration system) statement will receive an updated DRS statement from the transfer agent for the Company, Endeavor Trust Corporation, representing Common Shares on a post-Consolidation basis.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange.
Komo Plant Based Foods is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying and made with wholesome ingredients. At Komo, the company's mission is to help make plant-based meals a staple on every dinner table by sharing the company's love for feel-good food that connects the people to the planet. The company believes plant-based eating is the future and that "Change can start with a single bite." The company's experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100 per cent plants. Komo's products are sold direct-to-consumer through the company's e-commerce website, and a distribution network of on-line and brick and mortar grocery, convenience and natural retailer channels. The company's operating subsidiary, Komo Comfort Foods, launched in 2021 with the company's flagship products: plant-based lasagna, shepherd's pie and chickenless pot pie, and Komo Plant-Based Meal Helpers -- versatile meal starters to allow the creation of many dishes at home. Komo's newest product is Mac & Greens. All of the company's products are 100-per-cent plant-based, made with wholesome ingredients, free from preservatives and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have an 18-month frozen shelf life.
Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods For further information, please contact:
William White, President & CEO, Komo Plant Based Foods Inc.
+1 (236) 8000‐YUM / (236) 800‐0986
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward‐Looking Statements
Certain statements contained in this press release constitute forward‐looking information. These statements relate to future events or Komo's future performance. The use of any of the words and similar expressions and statements relating to matters that are not historical facts are intended to identify forward‐looking information and are based on Komo management's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, Komo's ability to retain key personnel, its projected revenues, its projected expenses, its ability to raise capital, and its expectation as to the continued increase in the number of retailers and consumers of its products constitute forward‐ looking information. Actual results and developments may differ materially from those contemplated by forward‐looking information. Readers are cautioned not to place undue reliance on forward‐looking information. The statements made in this press release are made as of the date hereof. Komo disclaims any intention or obligation to publicly update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.