Posted by AGORACOM-JC
at 6:03 PM on Wednesday, January 13th, 2021
The paradigm shifting, parabolic growth of plant based foods and a plant based life is unstoppable, with the plant-based food market alone expected to reach $74.2 billion by 2027.
If you believe in the massive paradigm shift towards plant based foods and more, be sure to watch and share this great interview with PlantX Life Founder, Sean Dollinger.
You won’t just learn about a great small cap company, you’ll also learn how to live a healthier, tastier life.
Posted by AGORACOM-JC
at 8:43 AM on Monday, January 11th, 2021
Announced today that it has taken a significant step to enhance its investor profile by launching a new capital markets strategy focused on the United States.
As a result, the Company has applied to list its common shares on the NASDAQ Capital Market
PlantX believes that a listing on NASDAQ will provide even further opportunities to broaden its institutional and retail investor base and enhance the Company’s visibility while accelerating growth
VANCOUVER, British Columbia, Jan. 11, 2021 – PlantX Life Inc. (the “ Company ” or “ PlantX ”) (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce today that it has taken a significant step to enhance its investor profile by launching a new capital markets strategy focused on the United States (“U.S.”). As a result, the Company has applied to list its common shares on the NASDAQ Capital Market (“NASDAQ”).
PlantX believes that a listing on NASDAQ will provide even further opportunities to broaden its institutional and retail investor base and enhance the Company’s visibility while accelerating growth. PlantX hopes to further expose the Company’s brand to the U.S. market and ultimately raise the Company’s overall profile to enhance shareholder value.
Aiming to be the most trusted destination for the plant-based community and those interested in living a plant-based lifestyle
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Burger King to launch 100% vegan burger for Veganuary in the UK
Burger King is launching a new vegan burger in the UK next week (11th January).
The new vegan burger comes a year after the chain released its plant-based Rebel Whopper, which was unsuitable for vegans because of it being cooked on the same grill as meat.
However, this time the US fast-food giant will sell a 100% vegan bean burger, which includes two signature veggie patties on a toasted sesame bun, topped with fresh-cut lettuce, juicy tomatoes, ketchup, and vegan mayo.
The burger is said to cost around £4.59 on its own, or £5.59 with a drink.
TheRebel Whopper
Last year, the chain launched a Rebel Whopper for Veganuary, angering many vegans because it was grilled on the same surface as the meat version.
It however said at the time that the burger was aimed at ‘flexitarians’.
Commenting on the plant-based Whopper, Toni Vernelli, international head of marketing at Veganuary, said: “For all of the important issues that Veganuary – and most vegans – are trying to address through their food choices it makes absolutely no difference whether the plant-based patty is cooked separately or on the same grill as the meat.
“What does make a big difference to animals and the planet is when non-vegans choose a plant-based menu option, enjoy it and then order it again.
“And that’s exactly who Burger King’s plant-based Whopper is aimed at, flexitarians who want to reduce their meat consumption for health or environmental reasons, or are considering going vegan.”
Veganuary launches
Burger King has joined a slew of retailers, restaurants, and fast-food chains that have launched new products for Veganaury this year.
Wagamama is moving ahead with a new vegan-themed menu for Veganuary amid its pledge to make 50% of its menu meat-free by the end of 2021.
The new menu offers plant-based versions of cult favourite dishes; Chilli Squid, sticky ribs, Firecracker Curry, and Grilled Duck Donburi, which the company hopes will entice even their ‘most set-in-their-ways meat-eating fans’.
Pret A Manger is adding nine new vegan items including breakfast items and wraps to its January menu, which will be launched at both Pret and Veggie Pret outlets nationwide.
Sandwich chain Subway has launched the vegan T.L.C. (Tastes Like Chicken) Sub and Vegan Double Choc Cookie, both of which are available to order in Subway stores just in time for Veganuary.
Posted by AGORACOM-JC
at 7:28 PM on Thursday, January 7th, 2021
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.
Posted by AGORACOM-JC
at 9:09 AM on Tuesday, December 22nd, 2020
Announced that its common shares will commence trading on the OTCQB ® Venture Market in the United States under the symbol “PLTXF” effective December 22, 2020 .
The OTCQB Venture Market is for early-stage and developing companies. In order to be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process.
The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
VANCOUVER, BC , Dec. 22, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce that its common shares will commence trading on the OTCQB ® Venture Market in the United States under the symbol “PLTXF” effective December 22, 2020 .
The OTCQB Venture Market is for early-stage and developing companies. In order to be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
PlantX continues to advance its plans to open its first brick and mortar locations in San Diego, California and Squamish, British Columbia , with plans of future franchising across North America . PlantX will also continue to expand its e-commerce capabilities around the world with new and exciting partnerships, acquisitions and verticals in the plant-based industry.
The Company’s digital platforms PlantX.com and PlantX.ca currently make available thousands of plant-based products from top brands in the industry, offer indoor plant delivery, a restaurant locator, weekly-curated plant-based recipes, news articles and blogs. PlantX also recently announced its newly-formed Medical Advisory Board comprised of medical professionals from around the world to guide and support the Company’s products, recipes and educational offerings with medical and scientific expertise.
“The addition of another trading platform will continue to increase PlantX’s visibility with investors,” said Sean Dollinger , PlantX founder. “We as a company know plant-based living is the future, and it’s great that our investors and shareholders will be able to share in that excitement.”
PlantX’s shares will continue to trade on the Canadian Securities Exchange (CSE) under its existing symbol “VEGA” and the Frankfurt Exchange under the symbol “WNT1”.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements regarding the commencement of the trading of the Company’s common shares on the OTCQB Venture Market, the expansion of the Company’s e-commerce capabilities, the opening of the Company’s new brick and mortar locations in San Diego, CA and Squamish, B.C and the business and strategic plans of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com . Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 8:53 AM on Thursday, December 17th, 2020
Announced its plans to expand the Company’s e-commerce platform into the State of Israel .
The Company’s Israeli expansion will also include establishing a future brick and mortar PlantX location in the country.
Company owns the domain www.PlantX.co.il and will be launching it with the flagship brick and mortar location. PlantX Israel customers will receive the same PlantX online experience and services as its North American customers, including plant-based meal delivery, indoor plant delivery, access to plant-based products, updated weekly recipes, a plant-based restaurant locator and informational articles regarding plant-based trends.
VANCOUVER, BC , Dec. 17, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce its plans to expand the Company’s e-commerce platform into the State of Israel . The Company’s Israeli expansion will also include establishing a future brick and mortar PlantX location in the country.
Today’s announcement follows yesterday’s announcement of Psagot Investment House Ltd., an Israeli investment firm and Israel’s largest pension fund manager, leading the Company’s recently closed non-brokered $11.5 million private placement (for further details, please see the Company’s press release dated December 16, 2020 ).
PlantX Israel’s operations will be led by VP of Israel Operations Ms. Mili Ben-David and VP of Global Expansion Mr. Michael Blicher . Ms. Ben-David currently lives in the country and Mr. Blicher will be relocating to Israel to join the PlantX team. Ms. Ben-David and Mr. Blicher will be tasked with finding a suitable site for PlantX’s first brick and mortar location in Israel , building partnerships with local brands and chefs, and establishing and growing the PlantX community in the country. The duo will also help introduce popular plant-based US brands to Israel and importing popular Israeli plant-based brands to PlantX’s North American market.
” Israel overall has a strong leaning towards plant-based products due both to emerging trends and dietary laws that many Israeli Jews follow that prohibit meat or dairy following eating one or the other,” said Mr. Blicher, PlantX VP of Global Expansion. “We are thrilled and excited to expand our e-commerce platform to another international market, to provide Israeli consumers with enhanced choice, widen our product offerings with Israeli brands, and offer the unique PlantX shopping and customer service experience to Israel .”
The Company owns the domain www.PlantX.co.il and will be launching it with the flagship brick and mortar location. PlantX Israel customers will receive the same PlantX online experience and services as its North American customers, including plant-based meal delivery, indoor plant delivery, access to plant-based products, updated weekly recipes, a plant-based restaurant locator and informational articles regarding plant-based trends. The Israeli plant-based offerings will include an assortment of products including pantry essentials, groceries, vitamins, cosmetics and pet food.
PlantX’s Israeli expansion plans include the establishment of franchise locations across the country. The expansion of turnkey retail solutions and franchises in Israel will be led by Israeli-founded Iris Construction Management (” Iris “). Iris’ founders share a vision with PlantX to spread health, wellness and plant-based education to consumers. This partnership with Iris will allow PlantX to continue in its pursuit of becoming a one-stop shop for everything plant-based and a digital leader in the plant-based community.
“An advantage of working with Iris Construction Management is that our expertise has been proven across the world,” said Scott Kurz , Iris Construction Management Development Manager. “We can help franchises grow their business on a global scale and we are proud to help PlantX bring their innovative brand to Israel .”
“The Mediterranean diet has plenty of flavours with many vegan dishes,” said Ms. Ben-David. “Eating plant-based products was a way of survival, since the days of the ‘Kibbutz.’ This simplicity is still what we see on the table, especially at an Israeli breakfast table, which are known for their extensive spread of vegetables, grains and many different types of salads.”
PlantX continues to advance its plans to open its first brick and mortar locations in San Diego, California and Squamish, British Columbia , with plans for future franchises across North America .
Once complete, PlantX’s location in Israel will be the Company’s first overseas brick and mortar location and will feature a shop with a wide-variety of plant-based products, a plant-based café, a restaurant with plant-based pre-made meals and an education center for consumers to learn more about plant-based living. PlantX plans to continue to expand its e-commerce platform to other countries with new and exciting partnerships, acquisitions and verticals in the plant-based industry.
“Seeing our company grow around the world so quickly is very exciting and we could not be more pleased with our expansion,” said Sean Dollinger , PlantX founder. “When we have two incredible people like Michael and Mili on the ground in Israel and Iris Construction Management from Israel , it just makes a lot of sense.”
Corporate Update
PlantX announces that it has granted 1,870,000 incentive stock options (the ” Options “) to purchase common shares of PlantX (” Common Shares “) to certain consultants of the Company. The Options are exercisable for a five (5) year period at a price of $1.45 per share. One quarter (1/4) of the Options will vest every three months from the date of grant.
PlantX also announces that it has granted 4,153,000 restricted share units (” RSUs “) to certain directors, officers and consultants of the Company pursuant to the Company’s restricted share unit plan (” RSU Plan “). The RSUs have a term of one (1) year of which one quarter (1/4) of the RSUs will vest every three (3) months from the date of grant. The RSUs will not vest or be paid out until the RSU Plan has been approved and ratified by shareholders. The Company intends to seek shareholder approval of the RSU Plan at the Company’s next annual general meeting. Further details regarding the RSU Plan will be set out in the management information circular of the Company, which will be mailed to shareholders and filed on SEDAR in connection with the Company’s next annual general meeting.
PlantX also announces that it will issue an aggregate of 437,931 Common Shares to a consultant of the Company (the ” Consultant “), at a deemed price of $1.45 per Common Share for services rendered in accordance with the terms of a consulting agreement with the Company. The Common Shares issued to the Consultant will be subject to a 4 month hold period from the date of issuance in accordance with the policies of the CSE.
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements relating to the Company’s expansion into Israel , the establishment of brick and mortar locations in San Diego, CA , Squamish, BC and Israel , the receipt of shareholder approval of the RSU Plan and the vesting and settlement of the RSUs, and the business and strategic plans of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com . Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 7:29 PM on Wednesday, December 16th, 2020
Announced the completion of its previously-announced non-brokered private placement of 20,909,091 units of the Company at a price of $0.55 per Unit for aggregate gross proceeds of $11,500,000
The Offering included the exercise of the Company’s over-allotment option that increased the size of the Offering by an additional 15% from an originally anticipated size of $10,000,000
VANCOUVER, BC , Dec. 16, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce the completion of its previously-announced non-brokered private placement (the ” Offering “) of 20,909,091 units of the Company (each a ” Unit “) at a price of $0.55 per Unit for aggregate gross proceeds of $11,500,000 . The Offering included the exercise of the Company’s over-allotment option that increased the size of the Offering by an additional 15% from an originally anticipated size of $10,000,000 .
The Offering was co-led by Psagot Investment House Ltd. (” Psagot “), an Israeli investment firm and Israel’s largest pension fund manager, and PlantX founder, Mr. Sean Dollinger . Psagot purchased 2,725,000 Units for gross proceeds of $1,498,750 and Mr. Dollinger purchased 1,000,000 Units for gross proceeds of $550,000 in the Offering. The Company intends to use the net proceeds from the Offering for business operations, expansion of its business and for general working capital purposes.
“We are beyond pleased with our closing and the support of Psagot,” said Sean Dollinger , PlantX founder. “This is just another sign that the plant-based industry is gaining traction around the globe and it’s only the beginning.”
Each Unit consisted of one (1) common share (a ” Common Share “) of the Company and one (1) Common Share purchase warrant (a ” Warrant “). Each Warrant entitles the holder to acquire one (1) Common Share at an exercise price of $0.75 per share until December 16, 2022 (the ” Warrant Expiry Date “). In the event that the trading price of the Common Shares on the Canadian Securities Exchange (or such other Canadian stock exchange on which the Common Shares are listed for trading) equals or exceeds $2.00 per Common Share for any period of 10 consecutive trading days, then the Company may, at its option, within 10 business days following such 10-day period, accelerate the Warrant Expiry Date by issuing a press release (a ” Warrant Acceleration Press Release “), and, in such case, the Warrant Expiry Date will be deemed to be 5:00 p.m. ( Vancouver time) on the 30th day following the issuance of the Warrant Acceleration Press Release (the ” Warrant Acceleration Option “).
Although the Offering was non-brokered, the Company compensated certain dealers (each, a ” Finder ” and collectively, the ” Finders “) that introduced subscribers to the Company by way of: (i) cash finders’ fee to each Finder equal to 7% of the aggregate gross proceeds of the subscribers introduced to the Company by such Finder (each a “Finder’s Fee ” and collectively, the ” Finders’ Fees “); and (ii) the issuance of non-transferable Common Share purchase warrants to each Finder equal to 7% of the aggregate Units of the subscribers introduced to the Company by such Finder (each a ” Finder’s Warrant ” and collectively, the ” Finders’ Warrants “). Each Finder’s Warrant entitles the Finder to acquire one (1) Common Share at an exercise price of $0.75 per share until the Warrant Expiry Date unless otherwise accelerated pursuant to the Warrant Acceleration Option. The Company paid a total of $430,495.65 in Finders’ Fees and issued an aggregate of 774,757 Finders’ Warrants to the Finders in connection with the Offering.
The securities issued in connection with the Offering, including the Finders’ Warrants, are subject to a four-month hold period ending on April 17, 2021 in accordance with applicable Canadian securities laws.
Certain insiders of the Company participated in the Offering and purchased an aggregate of 190,910 Units. Participation of such insiders in the Offering constituted a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (” MI 61-101 “), but was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25% of the Company’s market capitalization. None of the Company’s directors expressed any contrary views or disagreements with respect to the foregoing. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insider of the Company had not been confirmed at that time.
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
About Psagot Investment House Ltd.
Psagot is one of Israel’s largest investment houses. Psagot manages approximately 165 billion NIS on behalf of close to one million private investors, business clients and institutional clients. The investment house offers its clients a wide range of investment tracks and investment instruments adapted to meet investors’ various needs. Psagot Investment House is owned by Apax Partners
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements regarding the proposed use of the net proceeds from the Offering and the business and strategic plans of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed atwww.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 9:26 AM on Monday, December 7th, 2020
Announce that the Company’s previously announced non-brokered private placement of up to 18,181,818 units at a price of $0.55 per Unit for gross proceeds of up to $10,000,000 has been fully subscribed based on commitments from purchasers.
Due to higher-than-expected demand, PlantX has also elected to exercise its over-allotment option to increase the size of the Offering by an additional 15%, thereby resulting in the sale and issue of an additional 2,727,273 Units for an aggregate total placement of 20,909,091 Units and total gross proceeds of $11,500,000 .
VANCOUVER, BC , Dec. 7, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTC Pink: PLTXF) is pleased to announce that the Company’s previously announced non-brokered private placement of up to 18,181,818 units (” Units “) at a price of $0.55 per Unit for gross proceeds of up to $10,000,000 (the ” Offering “) has been fully subscribed based on commitments from purchasers. Due to higher-than-expected demand, PlantX has also elected to exercise its over-allotment option to increase the size of the Offering by an additional 15%, thereby resulting in the sale and issue of an additional 2,727,273 Units for an aggregate total placement of 20,909,091 Units and total gross proceeds of $11,500,000 .
Each Unit will be comprised of one (1) common share (a ” Common Share “) of the Company and one (1) Common Share purchase warrant of the Company (each a ” Warrant “). Each Warrant will entitle the holder to acquire one (1) Common Share for a period of 24 months from the date of issuance of the Warrant (the ” Warrant Expiry Date “), at an exercise price of $0.75 per share. In the event that the trading price of the Common Shares on the Canadian Securities Exchange (” CSE “) (or such other Canadian stock exchange on which the Common Shares are listed for trading) equals or exceeds $2.00 per Common Share for any period of 10 consecutive trading days, the Company may, at its option, within 10 business days following such 10-day period, accelerate the Warrant Expiry Date by issuing a press release (a ” Warrant Acceleration Press Release “), and, in such case, the Warrant Expiry Date will be deemed to be 5:00 p.m. ( Vancouver time) on the 30th day following the issuance of the Warrant Acceleration Press Release.
The closing of the Offering is expected to occur on or about December 14, 2020 , subject to certain conditions including, but not limited to, acceptance by the CSE. Unless otherwise stated, all currency amounts are in Canadian dollars.
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 securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Corporate Update
The Company announces that it will issue an aggregate of 409,453 Common Shares to certain consultants of the Company (collectively, the ” Consultants “), at a deemed price of $1.03 per Common Share for services rendered in accordance with the terms of their respective compensation agreements with the Company. The Common Shares issued to the Consultants will be subject to a 4 month hold period from the date of issuance in accordance with the policies of the CSE.
The Company also announces that it has entered into debt settlement agreements (” Debt Settlement Agreements “) with certain arm’s length creditors of the Company (collectively, the ” Creditors “) for debts in the aggregate amount of $149,326 . Pursuant to the terms of the Debt Settlement Agreements, the Company will issue an aggregate of 144,977 Common Shares to the Creditors at a deemed price of $1.03 per Common Share, in satisfaction of the aggregate debt owing to the Creditors. The Common Shares issued to the Creditors pursuant to the Debt Settlement Agreements will be subject to a statutory hold period that will expire four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements relating to the terms and anticipated completion of the Offering.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed atwww.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 9:39 AM on Thursday, December 3rd, 2020
Common shares have begun trading on the OTC Pink Market under the symbol “PLTXF”
The Company will continue to trade in Canada on the Canadian Securities Exchange under the symbol “VEGA”
VANCOUVER, BC , Dec. 3, 2020 – PlantX Life Inc. (the “Company” or “PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTC Pink: PLTXF) is pleased to announce that its common shares (” Common Shares “) have begun trading on the OTC Pink Market under the symbol “PLTXF”. The Company will continue to trade in Canada on the Canadian Securities Exchange under the symbol “VEGA”.
Pursuant to the terms and conditions of its incentive stock option plan, PlantX has granted 1,815,000 incentive stock options (the ” Options “) to purchase Common Shares of PlantX to certain executive officers, consultants and employees of the Company. The Options are exercisable for a five (5) year period at a price of $0.70 per share. One quarter (1/4) of the Options will vest every three months from the date of grant.
As part of a new long-term incentive program to link pay to performance and align the interests of the Company’s management, directors, employees with shareholders, the Company also announces that a restricted share unit plan for eligible officers, directors, employees and consultants (the ” RSU Plan “), and a performance share unit plan for eligible employees and consultants (the ” PSU Plan “) were approved by the board of directors, subject to any regulatory approval and ratification by the Company’s shareholders at the next annual general meeting of shareholders (the ” AGM “). The Company may grant and issue PSUs or RSUs pursuant to the terms of the PSU Plan or RSU Plan respectively, however neither PSUs nor RSUs will be permitted to vest and be paid out until the PSU Plan and RSU Plan have been approved and ratified by shareholders.
Subject to the above approvals and any regulatory requirements, 3,950,000 PSUs were granted to officers, consultants and employees, and 550,000 RSUs were granted to directors of the Company.
The RSUs have a term of one (1) year of which one quarter (1/4) of the RSUs will vest every three (3) months from the date of grant. The PSUs have a term of one (1) year and will vest as to one third (1/3) every four months from the date of grant, subject to the achievement of certain performance metrics related to gross sales.
Further details regarding the PSU and RSU Plans and the grants made under such plans will be set out in the management information circular of the Company, which will be mailed to shareholders and filed on SEDAR in connection with the Company’s next AGM.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes statements regarding the receipt of shareholder approval of each of the PSU Plan and RSU Plan and the vesting and settlement of PSUs and RSUs.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com . Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 8:56 AM on Tuesday, December 1st, 2020
Announced it will form a medical advisory board composed of doctors and specialists from around the world to better educate the Company and the public on the health benefits of a plant-based lifestyle.
“In our mission to educate the public on the benefits of a plant-based lifestyle, we value the guidance of experts in the medical and science communities,” said Sean Dollinger , PlantX founder. “We look forward to working with our medical advisory board and using their recommendations to make PlantX a leader in the plant-based industry.”
VANCOUVER, BC , Dec. 1, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce it will form a medical advisory board (” Medical Advisory Board “) composed of doctors and specialists from around the world to better educate the Company and the public on the health benefits of a plant-based lifestyle.
“In our mission to educate the public on the benefits of a plant-based lifestyle, we value the guidance of experts in the medical and science communities,” said Sean Dollinger , PlantX founder. “We look forward to working with our medical advisory board and using their recommendations to make PlantX a leader in the plant-based industry.”
The Medical Advisory Board will meet with PlantX once a month to review its products, meals, recipes and plants, and then make recommendations on how each will affect consumers’ health and wellness. The Medical Advisory Board will also discuss advancements in the plant-based industry and how the Company can capitalize on such advancements.
As a company promoting health, wellness and the benefits of a plant-based lifestyle, PlantX is making an effort to always have the most accurate and up-to-date information to make its online platform the preferred resource for the plant-based community. The Company’s customers will be encouraged to write in with questions, some of which will be answered by members of the Medical Advisory Board in upcoming blogs and podcasts to be made available on www.PlantX.com and www.PlantX.ca .
PlantX Medical Advisory Board
The Medical Advisory Board will consist of the following members:
Thomas A. Burdon , MD, is a Professor of Cardiothoracic Surgery at Stanford University and Chief of Surgery at the VA Palo Alto in California . He is an active surgeon and also supervises more than 150 staff that perform 6,000 surgical cases a year. Dr. Burdon’s commitment to improving the quality of life for his patients encompasses corrective and palliative surgical techniques, as well as providing dietary information and other methods to ameliorate and improve lifestyle habits. He is known by his colleagues and patients for the “Dr. Burdon Diet”, which has helped many in his work environment.
Dr. Katie Cooper is a doctor of psychology based out of London, England , and the author of the book Plant Therapy , which focuses on the well-being benefits of plants and the negative effects that an indoor lifestyle can have on mental health. After seeing how powerful plants could be as therapeutic tools with clients, Dr. Cooper went on to launch Bloomboxclub Limited, a successful plant subscription service in the UK, which is now a part of the PlantX family.
Edward Tam , MD, FRCPC, is a clinical hepatologist. His full time clinical practice is in Vancouver, BC , where he is also active in clinical research, teaching, education, and community outreach. He has a focused interest in the area of non-alcoholic fatty liver disease, including the intersection of how lifestyle and pharmacotherapeutic interventions may address this growing epidemic.
Paul Gross , MD, is a family physician working in downtown Vancouver . He completed medical school at McGill University and residency at St. Paul’s Hospital. Most of his clinical practice is concentrated at Spectrum Health, a multidisciplinary primary care clinic in downtown Vancouver that provides full-service care with an emphasis on the LGBTQ community.
Eva Weinlander , MD, is a Clinical Professor in the Department of Medicine, Division of Primary Care and Population Health at Stanford Health Care. She is a seasoned family medicine physician with a passion for high-quality primary care, medical education, primary care research and healthcare professional wellness.
“At PlantX, we want everyone to have access to the important information regarding health and wellness so they can implement it into their lives,” said Julia Frank , PlantX CEO. “Having medical professionals reinforce the benefits of plant-based living will only further what we can do as a company.”
“I am so excited about the opportunity to partner with the PlantX community, to share my conviction on the power of a healthy lifestyle and provide thoughtful and informed recommendations on how best to support that exploration, regardless of where one is in that journey,” said Dr. Eva Weinlander .
PlantX will continue to expand its verticals on both its Canadian and U.S. e-commerce platforms, with plans to globally grow its platforms and offerings in its promotion of plant-based health, wellness, lifestyles and education.
Non-Brokered Private Placement
The Company is also pleased to announce that it intends to complete a non-brokered private placement of up to 18,181,818 units of the Company (” Units “) at a price of CAD$0.55 per Unit for gross proceeds of up to CAD$10,000,000 (the ” Offering “). In addition, the Company may, at its sole discretion, issue an over-allotment of up to 2,727,273 Units for additional gross proceeds of up to CAD$1,500,000 should demand for the Offering prove higher than expected.
Each Unit will be comprised of one (1) common share (a ” Common Share “) of the Company and one (1) Common Share purchase warrant of the Company (a ” Warrant “). Each Warrant will entitle the holder to acquire one (1) Common Share of the Company for a period of 24 months from the date of issuance of the Warrant (the ” Warrant Expiry Date “), at an exercise price of CAD$0.75 . In the event that the trading price of the Common Shares on the Canadian Securities Exchange (or such other Canadian stock exchange on which the Common Shares are listed for trading) equals or exceeds CAD$2.00 per Common Share for any period of 10 consecutive trading days, the Company may, at its option, within 10 business days following such 10-day period, accelerate the Warrant Expiry Date by issuing a press release (a ” Warrant Acceleration Press Release “), and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. ( Vancouver time) on the 30th day following the issuance of the Warrant Acceleration Press Release.
The Company intends to use the net proceeds from the Offering for business operations and expansion of its business, and for general working capital purposes. The Offering may close in tranches and will be led by PlantX founder, Sean Dollinger , who will commit CAD$500,000 towards the Offering.
Although the Offering will be non-brokered, the Company may, as compensation to dealers and individuals that introduce subscribers to the Company (each a ” Finder “), and subject to regulatory approval: (i) pay a cash finder’s fee to each Finder equal to 7% of the aggregate gross proceeds of the subscribers introduced to the Company by such Finder; and (ii) issue non-transferable Common Share purchase warrants to each Finder (with terms identical to the Warrants issued under the Offering) equal to 7% of the aggregate Units of the subscribers introduced to the Company by such Finder.
The securities issued in connection with the Offering will be subject to a four-month hold period, in accordance with applicable securities laws.
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs, and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier, and happier life.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes statements relating to the expected formation of the Medical Advisory Board, the Company becoming a leader in the plant-based industry, the frequency of meetings of the Medical Advisory Board, the Medical Advisory Board answering PlantX customers’ questions in upcoming blogs and podcasts, the expected completion of the Offering, the expected terms and size of the Offering, PlantX founder, Sean Dollinger , committing CAD$500,000 towards the Offering, the proposed use of proceeds under the Offering and the business and strategic plans of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed atwww.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
