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Power Leaves Corp. Announces Key Meeting Results and Strategic Developments

Introduction

Toronto, Ontario–(Newsfile Corp. – September 24, 2024) – Power Leaves Corp. ("PLC"), a pioneering manufacturer and global distributor of coca extracts and derivatives, is thrilled to share the outcomes of its recent Annual and Special General Meeting. The company has received an overwhelming show of support from its shareholders regarding its proposed Reverse Takeover (RTO) transaction and subsequent financing.

CEO’s Insight on Future Growth

"As we move closer to our anticipated public listing, we are experiencing a remarkable surge in engagement with industry players," remarked Pat McCutcheon, Co-Founder and CEO of PLC. "The influx of inquiries from established multinational companies in the Food & Beverage sectors has never been higher. We are optimistic about the prospective new supply partnerships that this will foster in the forthcoming months. We are in a remarkable position to capitalize on our first-mover advantage, enhancing PLC’s revolutionary coca extract to set the benchmark as the gold standard within the food and beverage sector. Our innovative ingredient aligns seamlessly with the current trend towards all-natural health products, promising an exciting trajectory ahead."

Why Choose Power Leaves Corp.?

Disrupting the Food & Beverage Sector: Focusing on Health Trends

PLC stands at the forefront of the natural ingredient movement by leveraging its all-natural coca extracts. These extracts can seamlessly replace artificial flavors while simultaneously reducing caffeine content in functional beverages, addressing current consumer health trends.

Growth and Market Penetration

In a testament to its rapid growth, PLC has recently concluded multiple international supply agreements, leading to the complete sell-out of its inventory during the first half of 2024. The Company is now actively engaged with multiple Tier 1 multinational corporations and boasts an aggressively expanding pipeline comprising over 100 small- to medium-sized company partnerships.

Innovative Approach with High Barriers to Entry

The company’s unique business model is fortified by an entirely owned supply chain. This process includes FDA and INVIMA licensed extraction, processing, and research and development (R&D) facilities. Notably, PLC has developed a patent-pending decocainization process that underscores its commitment to innovation. A key pillar of this model is a 15-year exclusive agreement with Indigenous partners, which establishes substantial barriers for potential competitors.

Diversified Revenue Streams with High Margin Potential

In contrast to Coca-Cola, which only markets end coca extract products, PLC has the capacity to conduct extensive research and development of coca-based products. This includes the innovative Coca E (Essence) tailored for alcoholic beverages and spirits. With a diverse portfolio of products, PLC is also exploring opportunities to monetize its waste stream, enabling the production of a coco-based fertilizer aimed at the domestic Colombian market. This strategy not only diversifies revenue but also maximizes gross margins for PLC.

Annual and Special Shareholder Meeting Results & Update on Proposed RTO Transaction

During the recent Annual and Special Shareholder Meeting, an impressive majority of PLC shareholders voted in favor of moving forward with the proposed RTO transaction (the "Proposed Transaction") alongside Rockshield Acquisition Corp. ("Rockshield").

Upcoming Changes and Activities

Upon completion of the Proposed Transaction, first announced in March 2024, the resultant entity ("Resulting Issuer") has formally applied to list its common shares on Cboe Canada, reserving the ticker "NASA." This particular ticker honors PLC’s enduring partnership with the NASA WALA Community of Colombian Indigenous partners, with whom the company holds a 15-year exclusive supply agreement for the provision of decocainized coca extract. Should the listing proceed as intended, PLC is poised to become the first publicly traded manufacturer and distributor of coca derivatives globally.

Substantial strides have been made towards the completion of the Proposed Transaction, with concurrent financing proceeding effectively. PLC anticipates raising sufficient capital to finalize the Proposed Transaction while significantly boosting the growth of its coca-derivative manufacturing and distribution business lines. The completion of the Proposed Transaction and the listing will be contingent on the success of the concurrent financing, with final approval from Cboe Canada still pending.

Exploring the Concurrent Financing Option

In its ongoing financing effort, PLC is offering subscription receipts at US$0.50 each. Once certain escrow conditions are met, each subscription receipt will automatically convert into one unit, comprised of a common share and a full warrant entitling the holder to purchase additional shares at US$0.75 over a 24-month term post-listing. Interested investors can learn more about the concurrent financing by contacting the company at [email protected].

It’s important to note that the securities offered will not be registered under the United States Securities Act of 1933, and their sale in the U.S. or to U.S. persons will occur only in compliance with applicable exemptions. This press release does not constitute an offer to sell, nor should it be interpreted as a solicitation of offers to purchase these securities in jurisdictions where such offers would contravene the law.

About Rockshield Acquisition Corp.

Rockshield operates as a reporting issuer within British Columbia, Alberta, and Ontario, though its shares are currently unlisted on any stock exchange.

About Power Leaves Corp.

Established in 2019, Power Leaves Corp. is challenging the existing monopoly on coca leaf extract supply. By leveraging an exclusive agreement with an Indigenous community, the company has developed the first-ever legal Colombian supply chain for decocainized coca extract, extensively catering to global food and beverage markets. Through its established infrastructure, Power Leaves focuses on the development and manufacturing of proprietary formulations that provide a unique taste experience while offering an all-natural source of protein, essential nutrients, and health benefits. For more details, visit www.powerleaves.com.

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Media Contact Information

Power Leaves Media Contact:
Americana Communications
Email: [email protected]
Website: www.americanapr.com

Investors:
Investor Relations
Email: [email protected]

Cautionary Notes

This press release contains "forward-looking information" and statements governed by applicable Canadian and U.S. securities laws. These statements include expectations, estimates, and projections made as of the date of this release. It is important to understand that these forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to vary materially from those expressed or implied herein.

Readers are encouraged not to rely excessively on these forward-looking statements. PLC assumes no responsibility to update such statements unless required by law. Furthermore, a note of caution that Cboe Canada has neither approved nor disapproved of the contents of this announcement and bears no responsibility for its adequacy or accuracy.

THIS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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