Not for distribution to U.S. news wire services or dissemination in the United StatesCHICAGO, IL AND VANCOUVER, BC / ACCESSWIRE / April 2, 2024 / The Planting Hope Company Inc. (TSXV:MYLK)(OTCQB:MYLKF)(FRA:J94) (“Planting Hope” or the “Company”) is pleased to announce its execution of a Memorandum of Understanding (“MOU”) with a US-based investment fund (the “Fund”) to secure up to $7M USD (~$9.5M CAD) in financing.Subject to the completion of due diligence, the receipt of all required regulatory, third party and other approvals, and satisfaction of certain other conditions, the Fund has agreed to act as lead investor together with other US based investors to provide $2M USD ($2.7M CAD) in equity capital through participation in the Offering (as defined below) and $5M US ($6.75M CAD) in debt financing (the “Debt Financing”). The Debt Financing is expected to consist of a $5M US revolving credit facility for a period of 24 months on terms to be finalized between the Company and the Fund.Based in Phoenix, Arizona, the Fund has more than $1.25B in assets under management and more than $700M in available uncommitted capital.Additionally, due to increased demand and the participation of the Fund and other US based investors, the Company is also pleased to clarify that, further to its press releases dated March 22, 2024, February 9, 2024 and January 19, 2024, it did not proceed with and has cancelled its previously announced private placement and the Company is pleased to announce that it is instead cond …
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