- Completed the acquisition of Score Enterprises Ltd., a privately-held company that operates the Squamish -based Locavore Bar & Grill and other related businesses including the “Cloudburst Café”, and “Locavore Food Truck”.
- The restaurant location will be redesigned as the PlantX Canadian Flagship brick and mortar shop.
VANCOUVER, BC, Jan. 7, 2021 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce that it has completed the acquisition of Score Enterprises Ltd., a privately-held company that operates the Squamish -based Locavore Bar & Grill and other related businesses including the “Cloudburst Café”, and “Locavore Food Truck”. The restaurant location will be redesigned as the PlantX Canadian Flagship brick and mortar shop.
Pursuant to the terms of the share purchase agreement (the ” Share Purchase Agreement “) between the Company, Score Enterprises Ltd.,(” Score “) and the selling shareholders of Score (the ” Sellers “), the Company acquired all the issued and outstanding common shares of Score for a purchase price of $1,350,000 , which was partially satisfied by the issuance of 1,897,152 common shares of the Company (” Consideration Shares “) at $0.539 per Consideration Share, that being equal to the 10-day volume weighted average trading price of the common shares of the Company on the Canadian Securities Exchange up until and including the close of business on November 25, 2020 . The remaining $327,435 was satisfied in cash.
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