Plantify Foods Enhances Leadership Team with Diversification of Board and Appointment of Suzette Ramcharan as CEO

Vancouver, British Columbia – TheNewswire – September 5, 2023 – Plantify Foods, Inc. (TSXV:PTFY) (“Plantify Foods” or the “Company“), a clean label food company dedicated to providing consumers with nutritious and natural food options, is pleased to announce the appointment of Suzette Ramcharan as its new Chief Executive Officer (“CEO”) along with two new appointments to the Board of Directors (effective September 1, 2023). These new appointments reinforce Plantify Foods’ dedication to assembling a diverse and accomplished leadership team to drive the Company’s vision of innovating and creating clean, healthy, and delicious plant-based foods.

Ms. Ramcharan brings to Plantify Foods over 21 years of diverse experience in capital markets, encompassing investor relations, brand management, business development, and M&A transactions. Most notably, Ms. Ramcharan founded and led DRNK Beverage Corp., a non-alcoholic beverage company that gained national distribution in 2022. Under her guidance, DRNK Beverage Corp. developed and launched low-sugar mocktails in a convenient ready-to-drink format. This venture provided Ms. Ramcharan with invaluable insights into the consumer-packaged goods landscape within the food and beverage industry. Ms. Ramcharan is a founding member and director of a Canadian tech start-up, Jot Technology Solutions Inc., that launched a mobile CRM in July 2021. During her 21 years in capital markets, Ms. Ramcharan held progressively senior roles with small to large-cap companies, mainly in metals and mining.

“On behalf of the Board of Directors and management, we are pleased to welcome Ms. Ramcharan as her dual expertise in both the capital markets and the food and beverage industry made her a natural choice for this position as we embark on our next phase of growth,” said Rowland Wallenius, Chairman of Plantify Foods. “Plantify Foods is more than just a plant-based food company. Our goal is to continue setting an example of what it means to be clean-label, and to foster innovation in developing functional food products that not only nourish but also provide additional health benefits.”

“I am very honoured to serve as CEO of Plantify Foods, as the Company has truly embodied what it means to be a clean-label food company,” said Suzette Ramcharan, CEO of Plantify Foods. “With a modest desire to be able to feed our own families better food, we are inherently aligned to meet the demands of today’s health-conscious consumers, offering plant-based foods at an affordable price. Set on a path of health and wellness from a very young age, I am excited to be a part of a company that truly understands and encourages healthy eating and promotes transparency in food production and ingredients. This is a unique company and I look forward to building this legacy alongside this remarkable team to drive innovation, foster strategic partnerships, and maximize operational efficiencies.”

New Appointments to Board of Directors

Plantify Foods is pleased to announce two new appointments to the Board of Directors.

Asaf Itzhaik brings an impressive background spanning 28 years managing an acclaimed Israeli optic brand that specializes in serving athletes. With a wealth of experience in both retail and real estate, locally and internationally, Mr. Itzhaik brings a unique blend of business acumen and strategic vision to the board. His extensive expertise includes business-to-consumer (B2C) and business-to-business (B2B) operations, providing him with a holistic understanding of market dynamics and consumer preferences. Mr. Itzhaik’s proven track record of driving growth and innovation in his previous ventures makes him a valuable addition to Plantify Foods’ leadership team. Mr. Itzhaik also serves as a director of Clearmind Medicine Inc. (Nasdaq: CMND).

Liat Sidi’s professional journey spans over a decade, marked by contributions in the financial sector. Her experience includes roles of significant responsibility in both public and private companies, underscoring her depth of knowledge and her capacity for strategic financial management. Ms. Sidi also serves as a director with SciSparc Ltd. (Nasdaq: SPRC) since 2020, providing strategic guidance and lending her expertise with financial reporting, annual budgets and adherence to legal and regulatory obligations.

About Plantify Foods, Inc.

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 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 reach out to us at ir@plantifyfoods.com.

Contacts

Gabriel Kabazo

Chief Financial Officer and Corporate Secretary

Phone: (778) 601-8420

Email: ir@plantifyfoods.com

Caroline Sawamoto

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 information regarding but not limited to the Company’s business objectives. 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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