Mr. Avtar Dhaliwal reports

MODERN PLANT BASED FOODS INC. ANNOUNCES UPDATE TO LOI

Modern Plant Based Foods Inc. has provided an update, further to its news release dated May 27, 2024. The company announces that the non-binding letter of intent to acquire the AnimalKind assets will be from 1471394 B.C. Ltd., replacing the previously announced 1256988 B.C. Ltd.

This strategic acquisition aligns with Modern Foods' commitment to expanding its portfolio and enhancing its position in the plant-based food market. The company is actively collaborating with the vendors to expedite the closing of this acquisition transaction.

Modern Foods is dedicated to delivering innovative plant-based products to meet the growing consumer demand for sustainable and healthy food options. The acquisition of AnimalKind assets represents a significant step forward in this mission, allowing the company to diversify its offerings and strengthen its market presence.

The company will continue to keep its shareholders and stakeholders informed of any further developments as they arise.

About Modern Plant Based Foods Inc.

Modern Plant is a Canadian food company based in Vancouver, B.C., that offers a portfolio of plant-based products, including meat and dairy-free alternatives, soups, and vegan snacks. It takes a holistic approach to plant-based living and understands the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. It wants people to feel good about the food they eat which is why it is deliberate in choosing ingredients free of soy, gluten, nuts and genetically modified organisms. Its mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients.

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