(via TheNewswire)
Vancouver, British Columbia – TheNewswire – May 21, 2024 - Plantify Foods, Inc. (TSXV: PTFY) ("Plantify Foods" or the "Company"), a Clean Label food company dedicated to providing consumers with nutritious and delicious food options, announces that in light of the ongoing war in Israel over the past few months, the Company has assessed its operations to determine the best course of action to optimize production and reduce operational risk.
After assessing the sales and operations over the past year, Plantify will be shutting down production lines that are less profitable to focus on higher-margin products. This will allow the Company to streamline its production, generate some additional cash (with the sale of extraneous equipment and machinery), and continue operations during times of war.
"This pivot will help to stabilize the operations during very uncertain geopolitical times. There are a few other opportunities that the Company will continue to pursue, and updates will be provided as things mature. ”,said Suzette Ramcharan, CEO of Plantify Foods.“
About Plantify Foods
Plantify Foods is committed to providing consumers with nutritious, Clean Label food options while pioneering innovation in the food and beverage industry. The Company has a simple mission: to ensure that everyone has access to high quality food alternatives that are clean and healthy, are nutritious and tasty, use whole natural ingredients, and are easy to prepare.
Plantify Foods, through its wholly owned Israeli subsidiary, currently sells its diverse range of products in Israel, and is actively expanding its footprint across Europe and North America. With its new manufacturing facility, the Company can increase production and continue to create new Clean Label food products to meet the growing demand of health-conscious consumers from all walks of life.
If you have any questions or need more information, feel free to contact the Company directly.
Contacts:
Gabriel Kabazo
Chief Financial Officer and Corporate Secretary
Phone:(778) 601-8420
Investor Relations
Email:ir@plantifyfoods.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking informationregarding but not limited to the Company’s statements regarding pivoting the operations to streamline production and reduce operational risk during a time of war and uncertainty in Israel. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Plantify’s current beliefs and is based on information currently available to Plantify and on assumptions it believes are reasonable. These assumptions include but are not limited to the Company’s ability to implement its business plan. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plantify to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Plantify; the timing and availability of external financing on acceptable terms; and loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Plantify’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. The forward-looking information contained in this news release represents the expectations of Plantify as of the date of this news release and, accordingly, is subject to change after such date. Plantify expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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PLANTIFY FOODS, INC. 
