FEEL FOODS SIGNS LETTER OF INTENT TO ACQUIRE VEGAN FOOD COMPANY “PLANTASTIC FOOD INC.”

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VANCOUVER, BRITISH COLUMBIA – November 4th, 2021 - FEEL FOODS LTD. (the "Company"  or "Feel Foods") (CSE: “FEEL”) (OTC: “FLLLF”) (FSE: “1ZF”) is pleased to announce that it has  entered into a Letter of Intent (the “Agreement”) with Plantastic Food Inc. (“Plantastic”), a British Columbia  based vegan food company, and the shareholders of Plantastic to acquire all of the issued and outstanding  common shares of Plantastic (the “Acquisition”). 

Founded in 2019, Plantastic and its unique plant-based products are currently offered in twenty-two (22) “bricks and mortar” locations throughout British Columbia as well as multiple online marketplaces and direct to consumer from Plantastics’ e-commerce website at: www.plantasticfood.ca 

Plantastic offers a variety of delicious plant-based cheesecakes including Cappuccino, Chocolate, Lemon, Pumpkin Spice, and Strawberry flavors as well as its Three-Bean Chipotle and Kale-O-Mania plant-based burgers. 

Feel Foods Director and CEO David Greenway states: “We are thrilled to be working towards bringing Plantastic into our rapidly growing plant-based family of companies at Feel Foods. Plantastic’s unique and  delicious line of plant-based cheesecakes are my personal favorite desert, and the plant-based burgers compliment our existing lines of Black Sheep Vegan Cheeze. Feel Foods intends to work closely with  Plantastic to grow sales, increase market exposure, and expand distribution throughout Canada and the US while continuing to create new and exciting plant-based offerings.” 

Plantastic Food founder Sanit Jain states: “We have found a perfect fit in the Feel Foods family that aligns  with Plantastics’ values and vision and will allow our current offerings and new in-development products to  reach many more health-conscious consumers. Plantastic offers great tasting non-dairy cheesecakes so that desert lovers can have their cake and eat it too, while being part of a movement towards a plant-based world, that benefits health, the environment and the animals.” 

Vegan entrepreneur Mr. Sanit Jain who started to company due to his personal plant-based success and  recovery story. After losing his father to a heart attack stemming from high cholesterol, and finding that he  too had very high cholesterol, Saint ventured to find alternatives to pharmaceuticals to manage his cholesterol  and be healthier.

 

Plantastic is based on the idea that if we can help more people have access to healthy choices without  compromising on taste and texture, we would have made a positive impact on the community. Every decision  we make at Plantastic, every product we launch, community health and wellness are top of mind. We neither  compromise on the quality of ingredients nor method of preparation, rest assured that Plantastic products are  prepared with the best quality and noble intentions. 

The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2  billion by 2027. The growth of this market is mainly attributed to the factors such as increasing incidence of  intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan  population, and significant venture investments in this sector. * 

Terms of the Agreement 

Pursuant to the terms of the Agreement, on closing of the Acquisition (the “Closing”), the Company will  acquire all of the issued and outstanding common shares of Plantastic (the “Plantastic Shares”) under terms  to be negotiated and outlined in a subsequent Definitive Agreement following the completion of due diligence  by Feel Foods. 

The Acquisition is subject to certain conditions, including: (i) the completion of satisfactory due diligence;  (ii) the receipt of all necessary consents, waivers and approvals, including the approval of the CSE, as  applicable; (iii) the entry of the Consulting Agreements; (iv) there having been no material adverse effect  occurring with respect to the Company or Plantastic; and (v) other closing conditions customary for  transactions of this nature. 

Following the Closing of a Definitive Agreement, Plantastic Food Inc. will become a wholly owned subsidiary  of Feel Foods Ltd. 

About Feel Foods Ltd. 

FEEL is an agri-food holdings company focused on innovative products and technologies in the food services  industry including its wholly owned Black Sheep Vegan Cheeze Company, offering a variety of 10 unique  vegan dairy substitute products and currently available in over 30 retail locations, it’s 100% owned Be Good  Plant-based Foods line of plant-based chicken, pork and beef products as well as is currently investing in the  research and development of keto-friendly plant-based candy products. 

Company Contact: 

Mr. Joel T Warawa 

Corporate Communications 

E-mail: jw@feelfoodsco.com 

Corporate Contact: 

Website: www.feelfoodsco.com 

E-Mail: info@feelfoodsco.com 

Instagram: Instagram.com/feelfoodsco 

Phone: 604-235-0010 

Statistics Reference: * https://www.prnewswire.com/news-releases/global-plant-based-food-market-report 2020-2027-rising-industry-concentration-with-growth-in-mergers-and-acquisitions-in-the-plant-based products-space-301268737.html 

Disclaimer for Forward-Looking Information 

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the  Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs,  plans, expectations or intentions regarding the future, including with respect to: the entry of the Consulting Agreements, the completion of the Acquisition and the acceptance of the Acquisition and terms thereof by the CSE. Such statements are subject to risks  and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the unknown  magnitude and duration of the effects of the COVID-19 pandemic, the inability of Feel Foods to close the Acquisition and other risks  that are customary to transactions of this nature. There can be no assurance that any forward-looking information will prove to be  accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader  should not place any undue reliance on forward-looking information or statements. Feel Foods undertakes no obligation to update  forward-looking information or statements, other than as required by applicable law. 

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S.  Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from  registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. 

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

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