Save Foods, Inc. has recently announced its signing of a securities exchange agreement with Plantify Foods, Inc. This agreement will result in both parties issuing to each other such number of common shares representing 19.99% of the respective company’s issued and outstanding capital stock on a non-diluted basis. This move is expected to lead to greater cooperation and synergy between the two companies.
As part of the securities exchange agreement, each party will appoint one director to the other’s board of directors. Save Foods has designated its Chairman of the Board, Mr. Amitai Weiss, as its appointee to the board of directors of Plantify. Meanwhile, Plantify has designated its Chief Executive Officer, Dr. Roy Borochov, as its appointee to the board of directors of Save Foods. These appointments are expected to help facilitate better communication and coordination between the two companies.
However, the completion of the securities exchange agreement is subject to certain customary closing conditions, as well as receipt of TSXV’s acceptance. Additionally, the concurrent closing of Plantify’s issuance to Save Foods of a convertible debenture in the principal sum of CA$1,500,000 is also subject to TSXV acceptance. Once these conditions are met, the securities exchange agreement will become effective.
The move by Save Foods and Plantify Foods is expected to have a positive impact on both companies. Save Foods specializes in developing eco-friendly solutions for food preservation and waste reduction. Meanwhile, Plantify Foods is a leading provider of vegan and plant-based food products. The two companies have a shared goal of promoting sustainable practices and reducing the environmental impact of the food industry.
By working together, Save Foods and Plantify Foods can leverage each other’s strengths and resources to accelerate growth and achieve their shared goals. The appointment of board members from each company will also help facilitate better communication and coordination between the two companies.
In conclusion, the securities exchange agreement between Save Foods and Plantify Foods represents an exciting development for both companies. With a shared goal of promoting sustainable practices and reducing waste, the two companies are well-positioned to achieve great things together. The completion of the securities exchange agreement is eagerly awaited, and the industry will be watching closely to see how this partnership develops in the coming years.
Save Foods, Inc. is a company that specializes in developing innovative solutions for food preservation and waste reduction. Their patented technologies are designed to extend the shelf life of fruits and vegetables, reduce food waste, and minimize the use of harmful chemicals. By preserving fresh produce for longer periods, Save Foods helps to reduce the amount of food that is thrown away due to spoilage, which in turn helps to reduce the environmental impact of the food industry.
Plantify Foods, Inc., on the other hand, is a leading provider of vegan and plant-based food products. Their mission is to make healthy and sustainable food choices accessible to everyone. By offering a wide range of vegan and plant-based food products, Plantify Foods helps to reduce the environmental impact of the food industry, while also promoting healthier and more sustainable eating habits.
The partnership between Save Foods and Plantify Foods is expected to have a number of benefits for both companies. For Save Foods, the partnership provides an opportunity to expand their reach and promote their eco-friendly solutions to a wider audience. By working with Plantify Foods, Save Foods can leverage their partner’s expertise in plant-based foods to develop new and innovative products that promote sustainable practices and reduce waste.
For Plantify Foods, the partnership with Save Foods provides an opportunity to improve their sustainability credentials and reduce their environmental impact. By working with Save Foods, Plantify Foods can incorporate Save Foods’ technologies into their production processes, which can help to reduce waste and extend the shelf life of their products. This, in turn, can help to reduce the amount of food that is thrown away due to spoilage, which is a major contributor to food waste.
Overall, the partnership between Save Foods and Plantify Foods represents an exciting development for both companies. By working together, the two companies can leverage each other’s strengths and resources to achieve their shared goals of promoting sustainable practices and reducing waste. The partnership is expected to have a positive impact on both companies, and the industry will be watching closely to see how this partnership develops in the coming years.
