Plandai Biotechnology, Inc. Completes $15.3 Million Funding Commitment With Institutional Investo

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Published on March 17, 2014

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SOURCE: Plandai Biotechnology, Inc. NEW YORK, NY, via eTeligis, 2/10/2014 9:00:00 AM Plandai Biote...

Plandai Biotechnology, Inc. Completes $15.3 Million Funding Commitment With Institutional Investo SOURCE: Plandai Biotechnology, Inc. NEW YORK, NY, via eTeligis, 2/10/2014 9:00:00 AM Plandai Biotechnology, Inc. Completes $15.3 Million Funding Commitment With Institutional Investor Enters Into Stock Purchase Agreement With Lincoln Park Capital Fund NEW YORK, NY- via eTeligis (Feb 10, 2014) - Planda Biotechnology, Inc. (OTCQB: PLPL), a producer of highly bioavailable plant extracts for industries including health, wellness, nutraceutical, and pharmaceutical, announced today it has inked a regular purchase agreement with Lincoln Park Capital Fund, LLC, a Chicago-based institutional investor, whereby Lincoln Park devoted to invest, on the Company's sole option, up to $15.3 million of equity capital in the term from the purchase agreement including an initial investment of $300,000. Roger Duffield, Chief Executive Officer of Planda, commented around the agreement, "This agreement with Lincoln Park gives Planda the pliability to get into capital within the next few years at prevailing market prices and as the need arises. As we enter into production and commence sales in the coming months, it is very important use a strong balance sheet along with the capacity to continue our research in green tea, citrus also to brand our cannabis extracts underneath the Diego Pellicer Gold label."

During the 30-month term from the stock purchase agreement the Company, at its sole discretion, has the to certainly sell to Lincoln Park up to one more $15 million of the company's common stock, in amounts as described in the agreement and be subject to certain conditions, including the strength of a registration statement with the U.S. Securities and Exchange Commission in the sale with the shares which may be issued to Lincoln Park. The Company controls the timing and level of any future investment and Lincoln Park is obligated to generate purchases, assuming the Company decides, in accordance while using purchase agreement. There are not any upper limits on the price Lincoln Park may pay to buy Planda common stock as well as the purchase price with the shares linked to any future investments is based about the prevailing market prices from the Company's shares immediately preceding the notice of sale to Lincoln Park. Lincoln Park has agreed not to cause or participate in any manner whatsoever, any direct or indirect short selling or hedging in the Company's shares of common stock. The agreement might be bioinformatics terminated through the Company whenever you want, at its sole discretion, with no monetary cost. The results of this investment will probably be employed for research, website, marketing and general operating purposes. A more detailed description of the agreement is scheduled forth inside Company's Current Report on Form 8-K recently filed with all the SEC which the Company encourages be reviewed carefully. This pr release will not constitute a deal to market or a solicitation of a deal to acquire the securities on this offering, nor maybe there is any sale of those securities in a jurisdiction by which such offer solicitation or sale are unlawful before registration or qualification under securities laws of the such jurisdiction.

About Planda Biotechnology, Inc. Planda Biotechnology, Inc. and it is subsidiaries develop highly bioavailable, phytonutrient rich extracts which are being employed to deliver a fresh biotech sales group of drugs to safely and affordably treat many diseases and scenarios. Planda Biotechnology controls every biotech research aspect in the process, from growing the raw materials on its farms in South Africa, to producing its patented Phytofare extracts in-house, allowing the Company to guarantee the continuity of supply and also quality control through the entire process. Targeted industries to the Company's products include beverage, cosmeceutical, wellness, nutraceutical, anti-aging, and pharmaceutical. For more information, please visithttp:// About Lincoln Park Capital ("LPC") LPC can be an institutional investor headquartered in Chicago, Illinois. LPC's experienced professionals manage a portfolio of investments in public and private entities. These investments have been in many companies and industries emphasizing life sciences, specialty financing, energy and technology. LPC's investments range between multiyear financial commitments to finance growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit SOURCE: Plandai Biotechnology, Inc.

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