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.
Posted by AGORACOM-JC
at 8:44 AM on Friday, November 27th, 2020
Entered into a definitive share purchase agreement with respect to the purchase of Score Enterprises Ltd. a privately-held British Columbia company which carries on the business, including café, restaurant, food truck and operations, of the Squamish -based “Cloudburst Café”, “Locavore Food Truck” and the “Locavore Bar & Grill”
The restaurant location will be redesigned as the PlantX Canadian flagship brick and mortar shop.
VANCOUVER, BC , Nov. 27, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce that it has entered into a definitive share purchase agreement (the ” Share Purchase Agreement “) with respect to the purchase of Score Enterprises Ltd. ( ” BC Ltd. “), a privately-held British Columbia company which carries on the business, including café, restaurant, food truck and operations, of the Squamish -based “Cloudburst Café”, “Locavore Food Truck” and the “Locavore Bar & Grill” (the ” Squamish Business “). The restaurant location will be redesigned as the PlantX Canadian flagship brick and mortar shop.
Pursuant to the terms of the Share Purchase Agreement, PlantX will acquire all of the issued and outstanding shares of BC Ltd. from its shareholders (the ” Sellers “), for a purchase price of $1,350,000 , which will be satisfied by the payment of $327,435 in cash and the issuance of 1,897,152 common shares of PlantX (the ” Consideration Shares “) at an issue price per Consideration Share equal to $0.539 , being the 10-day volume weighted average price of the common shares of PlantX on the Canadian Securities Exchange (the ” CSE “) up until and including the close of business on November 25, 2020 . Further to the terms of the Share Purchase Agreement, the Sellers have agreed to a voluntary lockup of the Consideration Shares whereby the Consideration Shares will be released from lock-up in accordance with the following release schedule:
10% of the Consideration Shares will be released from lock-up immediately upon closing;
30% of the Consideration Shares will be released from lock-up three (3) months after closing;
30% of the Consideration Shares will be released from lock-up six (6) month after closing; and
the remaining 30% of the Consideration Shares will be released nine (9) months after closing.
The 15,000 square foot Locavore Bar & Grill will be redesigned as PlantX’s Canadian flagship location, keeping Locavore’s management staff. The popular Cloudburst Cafe will become the PlantX Cafe, with an updated design and new menu, keeping the top selling items. The Company will use the space as a showcase for franchises including a multi-tiered pop-up shop concept, food truck and full-service bar for beer, wine and mixed drinks. For the ten month period ended October 31, 2020 the Squamish Business generated total revenue of $1,610,143 , gross margin of 19% and gross profit of $310,024 . For the year ended December 31, 2019 , the Squamish Business generated total revenue of $1,875,455 and a gross margin of 24%. These amounts are based on financial statements prepared by management of the Squamish Business and were neither reviewed nor audited.
Historical Select Financial Information of the Squamish Business
10 Month Period Ended October 31, 2020 1
Year Ended December 31, 2019 1
Total Revenue
$1,610,143
$1,875,455
Gross Profit (Loss)
$310,024
$444,868
Gross Margin
19%
24%
Net Income (Loss)
$70,227
($21,489)
_______________
1 Information provided in this table was prepared by the management of Squamish Business and is unaudited and not reviewed.
The location will feature a plant-based education center, coffee shop, and restaurant with plant-based meals designed by our team of executive chefs and nutritionists. It will be used as a training center for future staff to replicate the experience in other franchises thanks to turnkey solutions from Iris Construction Management and consulting from the successful health food supermarket chain Les Marches TAU. The design, layout and offerings will be another way to help make a plant-based lifestyle accessible to residents of Squamish and eventually the rest of North America .
“We are following in the footsteps of Apple, Microsoft and Tesla who believe that education fuels growth,” said Sean Dollinger , PlantX founder. “We look forward to expanding the concept across North America through franchising and hope others will join us in the plant-based movement.”
“It is very exciting for all of us to see our Canadian flagship location come to life,” said Julia Frank , PlantX CEO. “There are so many great features that showcase our brand under one roof and we can’t wait to implement them in all of our franchises across North America .”
The closing of the transaction is subject to the finalization of definitive documentation and customary conditions, including the receipt of certain third-party consents and any necessary regulatory approvals. The transaction will close as soon as all conditions precedent have been satisfied, which is expected to occur on or about December 15, 2020 .
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.
Non-IFRS Financial Measures
This press release includes reference to total revenue, gross profit, gross margin, and net income which are financial measures that do not have standardized meanings prescribed by International Financial Reporting Standards (” IFRS “). Total revenue is calculated as the amount of total sales of goods and services; gross profit is calculated as the total revenue less the costs of sales; gross margin is calculated as gross profit divided by total revenue; and net income is calculated as gross profit less expenses. The Company believes these non-IFRS financial measure not only provides management with comparable financial data for internal financial analysis but also provides meaningful supplemental information to investors. In particular, management believes these financial measures can provide information useful to its shareholders in understanding the performance of the Squamish Business and may assist in the evaluation of its business relative to that of similar businesses. Investors are cautioned that these non-IFRS measures should not be construed as an alternative to the measurements calculated in accordance with IFRS as, given its non-standardized meaning, it may not be comparable to similar measures presented by other issuers.
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 acquisition of the Squamish Business, the Company’s plans to establish the Squamish location as its new flagship Canadian brick and mortar location, the payment of the purchase price and issuance of common shares of the Company, the release of the Consideration Shares from voluntary lockup in accordance with the agreed-upon release schedule, the expected closing date of the transaction 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, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the failure of the parties to acquire all necessary third party consents and approvals to complete the acquisition of the Squamish Business or otherwise satisfy all the necessary closing conditions, some of which are beyond the control of the parties. There can be no assurances that the transaction will be completed as planned or at all. Other risk factors include 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.
The unaudited historical financial information contained in this press release has been prepared using notice to reader statements prepared for the Squamish Business, is presented for illustrative purposes only and may be updated following review or audit by the Company’s auditors. Such financial information should not be considered to be an indication of the results of operations or financial condition of the Company following closing.
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 7:00 PM on Sunday, November 15th, 2020
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.
Plant Based Essentials …. Like Chocolate (Essential? You Bet)
And …… Plant Based …. PLANTS (It’s A BIG Business!)
More than just talk, VEGA is already in full swing and growing FAST
Already Operating In Canada
US Online Operations Kick Off With $USD 25M MIN of PlantX products YEAR 1
6% Royalty Fee to PlantX on gross USA revenues
US Bricks & Mortar with San Diego flagship store opening in DECEMBER
Agreement already signed with a major construction company to build the flagship + franchises across North America
AND ….. The recent £8 million Acquisition of Bloombox In The UK, generating millions in revenue
If you believe in the paradigm shifting nature of plant based foods and more, be sure to watch and share this great interview with PlantX CEO Julia Frank.
Posted by AGORACOM-JC
at 8:45 AM on Tuesday, November 10th, 2020
Announced its partnership with House Plant Shop who will assist PlantX with launching its U.S. plant vertical
The Company will also feature House Plant Shop products on its new U.S. e-commerce platform
Partnership will allow PlantX, the digital face of the plant-based community and one-stop-shop for everything plant-based, to offer an extensive plant selection to its U.S. consumer base
VANCOUVER, BC , Nov. 10, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce its partnership with House Plant Shop who will assist PlantX with launching its U.S. plant vertical. The Company will also feature House Plant Shop products on its new U.S. e-commerce platform.
The partnership will allow PlantX, the digital face of the plant-based community and one-stop-shop for everything plant-based, to offer an extensive plant selection to its U.S. consumer base. House Plant Shop will make available all of its products from its California greenhouse to PlantX customers throughout the U.S. Over 200 variants of plant-related products will be immediately available to U.S. consumers including an extensive array of plants, pots, gardening tools, accessories and decorations with plans to eventually reach over 500 products. As House Plant Shop adds more products to its lineup, they will be added to the PlantX marketplace.
Since 2017, House Plant Shop has provided an accessible and affordable solution for everyday customers looking to purchase houseplants online. Its small operation started in a house and quickly grew into a well-equipped greenhouse in Southern California . Today, House Plant Shop supplies several large e-commerce companies, with PlantX being the latest to source its products for the Company’s online platform and its eventual brick and mortar location in San Diego . PlantX believes that the indoor plant market will be an important growth segment for the Company.
“We love to see our newly launched U.S. e-commerce platform expand like its predecessor PlantX.ca,” said Julia Frank , PlantX CEO. “We firmly believe that our U.S. plant vertical will generate massive revenue and growth.”
“House Plant Shop is excited to announce its partnership with PlantX, an innovative company focused on incorporating plants into everyday life,” said Andy Burde , House Plant Shop co-founder. “Together, both companies will continue to foster the plant community and encourage plant production over unnatural materials.”
PlantX will continue to expand its verticals on both its Canadian and U.S. e-commerce platforms, with plans to globally expand its platforms and offerings in its promotion of plant-based health, wellness, lifestyles, and education.
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 Company’s partnership with House Plant Shop, House Plant Shop products becoming available on the Company’s e-commerce platform, the expected growth in House Plant Shop’s product line, the Company’s new brick and mortar location in San Diego , the Company’s expectations regarding the growth of the indoor plant market 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 9:38 AM on Saturday, November 7th, 2020
Announced that it has completed its acquisition of Bloomboxclub Limited that was previously announced on September 24, 2020
Bloombox Club UK is a privately-held e-commerce company based in the United Kingdom that sells and delivers indoor plants to its established wellness community via subscription service and online shop
The Acquisition helps PlantX execute on its international expansion strategy, as well as expand its e-commerce capabilities
VANCOUVER, BC , Nov. 6, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) announces that it has completed its acquisition of Bloomboxclub Limited (” Bloombox Club UK “) that was previously announced on September 24, 2020 (the ” Acquisition “). Bloombox Club UK is a privately-held e-commerce company based in the United Kingdom that sells and delivers indoor plants to its established wellness community via subscription service and online shop. The Acquisition helps PlantX execute on its international expansion strategy, as well as expand its e-commerce capabilities.
Bloombox Club UK will continue to operate as a wholly owned subsidiary run by its founder, Dr. Katie Cooper and her UK team, while leveraging the deep e-commerce and technical expertise of PlantX to drive higher conversions and accelerate expansion into Netherlands , Germany and the rest of Europe . Further, Bloombox Club UK will lend PlantX its expertise in the house plant vertical to enable the Company to further grow in the North American market.
PlantX plans to continue sourcing its plants from Geoponics, but will also grow its selection by having Bloombox Club UK locate additional partners that will make available their plant inventory and products on the Company’s ecommerce platform.
“We are really excited to become a part of the PlantX family,” said Dr. Katie Cooper , Bloombox Club founder and CEO. “We can’t wait to be part of a bigger and more global team with a wider strategic vision, and we look forward to combining all our teams’ expertise and skills.”
“It is quite exciting working with Bloombox Club UK who have created this amazing subscription service and platform for plants,” said Julia Frank , PlantX CEO. “If our brief time together is any indication, I know we will have a very bright future together.”
“All of us at PlantX are very much looking forward to working together with Bloombox Club UK,” said Sean Dollinger , PlantX founder. “Both teams bring so much to the table, whether it be ecommerce capabilities or marketing expertise, and together we’ll only continue to grow.”
PlantX paid a purchase price of £8 million that was satisfied by a combination of £560,000 in cash and £7,440,000 in common shares in the capital of the Company (” Consideration Shares “). An aggregate of 10,782,559 Consideration Shares were issued to the sellers of Bloombox Club UK at a deemed price of C$1.17 per share, that being equal to the ten (10) day volume weighted average trading price of PlantX’s common shares immediately preceding the public announcement of the Acquisition (the ” Consideration Share Price “). The Consideration Shares are subject to a 4 month hold period in accordance with applicable Canadian securities laws. Pursuant to the terms of the definitive purchase agreement, the Consideration Shares have also been deposited into escrow whereby the Consideration Shares will be released from escrow in accordance with the following release schedule:
20% of the Consideration Shares were immediately released from escrow on closing;
15% will be released three (3) months from closing;
15% will be released six (6) month from closing;
15% will be released nine (9) months from closing;
15% will be released twelve (12) months from closing;
10% will be released fifteen (15) months from closing; and
the remaining 10% will be released eighteen (18) months from closing.
In connection with the Acquisition, the Company paid a financial advisory fee equal to 10% of the value of the Acquisition to an arm’s length, third party financial advisor for its assistance in introducing, evaluating, and structuring the Acquisition for the Company. The fee was satisfied by a combination of cash and common shares of PlantX, of which an aggregate of 1,043,473 PlantX common shares were issued at a deemed price per share equal to the Consideration Share Price. The shares issued to the advisor are subject to a 4 month hold period in accordance with applicable Canadian securities laws.
About PlantX
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 ecommerce 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 Bloombox Club UK
Bloombox Club UK is a UK-based indoor plant and natural product shop and subscription company that brings indoors the great outdoors to boost its customers’ health and wellbeing. The company sources, curates, tells the story of its indoor plants and superior natural products for the home and delivers them to its customers’ doors. Bloombox Club UK has created a large and active community loyal to its brand by curating its products and educating its customers on the plants’ genus and benefits.
Forward Looking-Formation
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 information regarding the release of the Consideration Shares from escrow 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 4:20 PM on Thursday, October 29th, 2020
SPONSOR:PlantX Life Inc. (VEGA:CSE) – The Digital Face of The Plant – Based Community. The company is aiming to be the most trusted online destination for the plant-based community and those interested in living a plant-based lifestyle which includes the following;
Plant Based Meal Delivery – 20 unique 100% plant based meals for home delivery
20,000 items including snacks, drinks and even chocolate
Plant Based …. PLANTS (It’s A BIG Business!)
Plant Based Pet foods
Plant Based Restaurant Locator
—————–
Veganuary Celebrates 1 Million Participant As Plant-Based Diet Goes Mainstream
Veganuary, the U.K.-based campaign encouraging people to eat vegan for the month of January, has just hit the 1 million supporter mark since its inception in 2014
The achievement is testament to the growing plant-based trend, especially in the wake of the coronavirus pandemic, which has sent consumers all over the world looking for healthier, more sustainable and safer alternatives to animal foods.
Veganuary, the U.K.-based campaign encouraging people to eat vegan for the month of January, has just hit the 1 million supporter mark since its inception in 2014. The achievement is testament to the growing plant-based trend, especially in the wake of the coronavirus pandemic, which has sent consumers all over the world looking for healthier, more sustainable and safer alternatives to animal foods.
Announced on Monday (October 26), Veganuary has welcomed its one millionth participant joining the movement to try veganism for 31 days. Since the campaign first began in 2014, it has attracted the support of big names, including television presenter Jasmine Harman, actor Peter Egan and renowned wildlife presenter Chris Packham.
Harman, who took part in the first-ever Veganuary six years ago, broadcasted a video message congratulating the charity on the milestone. “I feel very proud and very privileged to have been with Veganuary from the start and to be one of their ambassadors,” she said.
In its first year, Veganuary attracted just 3,300 supporters, but it quickly rose to fame as plant-based foods have come to garner greater spotlight in recent years as consumers begin to couple the environmental footprint and health impact of their food choices. The one million total includes the record-breaking 400,000 participants that joined the movement this year, a jump from the 250,000 figure in 2019, and 170,000 in 2018.
One million official Veganuary participants in just seven years is a huge achievement, but the momentum behind the plant-based revolution will see us hit two million in no time. Matthew Glover, Co-Founder & Chair of Veganuary
The real figure is likely to be much higher than one million, given that people around the world are believed to have taken part in the event without signing the official pledge online. A significant number have also continued their plant-based diet after the month of January. According to research conducted by data insights firm Kantar, the actual number of people who have participated without officially signing up is around ten times higher.
Commenting on the milestone, Matthew Glover, the co-founder and chair of the charity, said: “Now Veganuary is a bigger feature in the retail calendar than Christmas, reflecting the ever-increasing number of people choosing plant-based food.”
“One million official Veganuary participants in just seven years is a huge achievement, but the momentum behind the plant-based revolution will see us hit two million in no time.”
Signatories to the pledge have come from every single country in the world apart from North Korea, Vatican City and Eswatini. In 2020, the most growth in supporters was recorded in Latin America, followed by India – two major markets where plant-based foods have experienced a surge in demand.
All over the world, consumers have been shifting towards plant-based foods more than ever before, particularly in the wake of the pandemic, which has exposed the vulnerabilities and dangers of the animal meat supply chain. With the trend firmly in the mainstream, food giants have been scrambling to tap into the market – the latest research shows that almost 40% of the biggest food manufacturers and retailers in the world now have dedicated plant-based teams.
Plant-based meat makers have also celebrated a big win in Europe just last week, when EU leaders prevented a proposal that would ban plant-based alternatives from using “meaty” terms like sausages or burgers on their labels.
Posted by AGORACOM-JC
at 8:44 AM on Tuesday, October 27th, 2020
Blackrock, considered by many to be the undisputed king of Wall Street with $6.5 trillion in assets under management, hasn’t just gone off dirty fossil fuels …
It also appears to be going off meat, another of the industries that is being spurned by the multi-trillion-dollar ESG movement.
recently upped the ante on this megatrend by bumping its iShares Total U.S. Stock Market Index Fund stake in plant-based meat superpower, Beyond Meat (NYSE:BYND) by another 15.76%.
Wall Street was caught napping when BlackRock stole the investing throne earlier this year by being the only huge fund to recognize the ESG investing megatrend.
By: OilPrice.com
Blackrock, considered by many to be the undisputed king of Wall Street with $6.5 trillion in assets under management, hasn’t just gone off dirty fossil fuels …
It also appears to be going off meat, another of the industries that is being spurned by the multi-trillion-dollar ESG movement.
Blackrock recently upped the ante on this megatrend by bumping its iShares Total U.S. Stock Market Index Fund stake in plant-based meat superpower, Beyond Meat (NYSE:BYND) by another 15.76%.
Wall Street was caught napping when BlackRock stole the investing throne earlier this year by being the only huge fund to recognize the ESG investing megatrend.
BYND
The question now is whether Wall Street will be caught napping again …
While the next megatrend takes shape.
Picking up steady momentum over the past half a decade, a global pandemic shifted this trend into top gear.
The trend is a plant-based lifestyle, and BlackRock is latching onto it in a big way.
Not only has animal-based food been proven to contribute to climate change, it has also been linked to the spread of pandemics.
And a plant-based diet isn’t the boring, tasteless vegan sacrifice it used to be. Now, it’s deliciously mainstream.
And this trend really does go… “beyond” meat.
The megatrend is an entirely plant-based lifestyle, and as big money such as BlackRock desperately searches for new places to park its billions of ESG-focused money, it could likely alight on this megatrend-focused company:
PlantX Life Inc (CNSX:VEGA), the company that’s hoping to upend the $950-billion meat industry and the $4-trillion global food services industry … with plants.
And the people behind it have disrupted markets before …
Infinitely Farther Than Beyond Meat
In a megatrend, it’s not enough to limit oneself to plant-based meat, or to a single brand that consumers can either like or dislike.
In a megatrend, it’s got to be bigger. It’s got to be a lifestyle. An entire “ecosystem”, which has now become the new ESG buzzword that rings loudly in the ears of big capital.
That’s exactly what PlantX is, and it has started to storm this megatrend with a fast-paced series of deals and acquisitions designed to capture–and create–North American market share that is about much more than … the new meat.
PlantX has its own plant-based food products, house plants, cosmetics, decor, pet food, and even its own celebrity chef.
You can shop online for just about everything you can imagine that is plant-based, shop in a smart store, order plant-based takeout or find the best places to dine vegan.
And if plant-based meals failed to get the taste buds flowing in Vegan 1.0, super chefs latching onto the megatrend have changed all of that …
PlantX
PlantX’s celebrity chef even makes meals for restaurants that have an urgent need to come up with more options for pandemic-panicked clientele that fear animal-based food.
Nor is the ESG trend about startups that don’t and may never profit (this isn’t Uber).
ESG
Instead, it’s about zero waste, ultimate efficiency, and high margins. It’s about “curation”.
For PlantX (CNSX:VEGA), that means profit margins that are beguiling because there aren’t any costs associated with inventory or warehouses, two of the biggest loss-making elements of the eCommerce sector.
And with all the fantastic margins lined up, PlantX is on an acquisition and deal-making tear:
In early September, it closed a $30-million deal with San Diego-based Liv Marketplace to build and operate PlantX’s first brick-and-mortar retail location in California. That confirms a huge push into the United States, with a 4,515-square-foot store that will sell a line of over 5,000 plant-based products.
PlantX acquired UK-based Bloombox Club in late September, and it’s now on target to hit $4 million in gross revenue and is expected to do $20 million in revenue over the next 12 months.
That same month, PlantX cut a series of deals with specialty producers, grocers, and even LA-based celebrity chef Gregg Drusinsky.
It launched its own glacial water brand in September.
On October 8th, PlantX jumped into the $38.4-billion North American pet food industry by launching yet another vertical with Kirtana Inc. products.
It’s teamed up with Vancouver-based UpMeal, which has a Grade A kitchen. UpMeal prepares the chef-designed meals from PlantX, making PlantX profitable right out of the gate. They use FedEx to ship across Canada, with bulk meals going to a single address and then immediately disbursed by local courier.
With profit margins of 55% for plants, 40% for online food, and 35% for delivery, PlantX is profitable right out of the starting gate.
It only started delivering meals to homes in April, and already it’s hit 10,000 meals.
And by early next year, it expects to be rolling out in the United States, UK, and Europe.
At the same time as it launches its first U.S.-based brick-and-mortar smart store in California.
This is the next-gen tech startup: It’s ESG-focused ecosystems with tons of verticals for making money. And PlantX’s verticals are unlimited …
Even more so when you consider that this is a community, not just a brand. It draws people into a digital plant-based space and keeps them there because–especially during a pandemic–human beings need a sense of belonging in something bigger than themselves.
And this is definitely bigger …
Remember the $26B Pet Food Megatrend?
Chewy Inc (NYSE:CHWY) was essentially created in a basement …
By savvy teenagers who are now billionaires.
These two teenagers created a dotcom delivery business in their basement. That business went on to become one of the biggest eCommerce businesses in Canada.
And then it became Chewy.com.
The pet food delivery company exploded on the scene, managing to steal half of Amazon’s market share in those segments.
Sold by its creators for $3 billion to giant PetSmart and is now worth a stunning $26.4 billion and has cornered some 50% of the U.S. market, compared to Amazon’s 45%.
Now Dollinger is looking to copy this idea, with PlantX–an idea vastly bigger than pet food. Dollinger also has pedigree having taken Namaste to north of a $1 billion valuation.
And his potential market is also vastly bigger because it doesn’t just include pets–it includes every living being.
And while Chewy.com has a limited number of verticals it can pursue, PlantX has zero limitations.
The Seeds of A Lucrative Lifestyle Rethink
Meat is now associated with poor health, shorter life-spans, the spread of disease … and pandemic.
For many who weren’t considering a plant-based diet, the pandemic has changed that.
Massive disruptions to the food supply chain gave us time to think as farmers were dumping produce and milk and culling animals when slaughterhouses shut down as COVID-19 breached their walls.
Fears of pandemic spread by the animal-based food industry, from swine flu and bird flu to salmonella and E. coli have hastened our flirtation with a completely new, plant-based lifestyle.
Just look at the pandemic-period retail sales for alternative meat alone:
And in Canada, too:
But out of crisis and chaos, as always, comes new opportunities.
Buying
Canada
And the new opportunities arising out of the pandemic are far more wholesome. They consider the people and the planet, but they also consider profit.
This is where the free market actually starts to work to the benefit of the world.
That’s the idea that underpins the ESG megatrend, and it’s why big money is shifting to this playing field. They see lower risk and higher profits.
PlantX (CNSX:VEGA) ticks all those ESG megatrend boxes.
It’s offering an entire plant-based “ecosystem”, which is one of the biggest de-risking factors for investors.
It’s backed by an eCommerce prodigy who’s been minting millionaires since he was a teenager and is ready to do it again.
It’s backed by Mother Nature, who’s come back with a vengeance to mint millionaires herself and change the way we live, and for how long.
Other companies looking to win big in the new “green lifestyle” trend:
Beyond Meat (NASDAQ:BYND) has exploded since its IPO in April, soaring by 111% in just a few short months. And it is just getting started. Today, the plant-based meat alternative giant is already worth nearly $12 billion, and new research suggests the market could climb to a whopping $74 billion in just the next few years. From “meatballs” to sausages and ‘hamburger, Beyond Meat is going above and beyond to expand its product line to appeal to every type of customer, and as this trend of plant-based foods catches fire, it’s likely to continue growing.
Beyond Meat’s mission statement speaks volumes, “By shifting from animal to plant-based meat, we can positively impact four growing global issues: human health, climate change, constraints on natural resources, and animal welfare.” It’s a clear-cut example of everything the new generation of investors is looking for in a company. It is combatting social challenges, climate change, and looking to tackle the hurdles facing our growing population.
While not exclusively engaged in plant-based meat alternatives, Tyson Foods (NYSE:TSN), is another company with an ESG twist. And even better, it has a wider selection of products available for both meat-eaters and plant-based diets. This is important considering almost 98% of consumers who buy plant-based products also buy animal meat.
Tyson is already a giant in the food industry, and it’s looking to win big as a growing number of Americans begin to identify themselves as “flexitarian.” While the “vegan wave” grabs more headlines, the reality is that most consumers are not 100% vegan. And that’s great for Tyson because it has a wide array of products to suit every customer’s tastes.
In a release, the company noted, “Tyson Foods is committed to sustainably offering the protein and food products that consumers want. Through the introduction of its Raised & Rooted™ brand of plant protein and blended protein options including burgers and nuggets, Tyson Foods has become the largest U.S. meat producer to enter the growing alternative protein segment.”
Kellogg (NYSE:K) is another giant in the food industry looking to expand its plant-based portfolio in a bid to compete with the success of Beyond Meat and unlisted competitor Impossible Foods. In 2019, Kellogg joined forces with Morningstar Foods to launch a line of plant-based products named “Ingogmeato.”
The company’s array of plant-based meat substitutes will be made from non-GMO soy, which is different than its peers. Beyond Meat, for instance, uses a pea protein substitute. Kellogg’s move is a bold one because, while the taste and texture are more similar to real meat, soy is a major allergen that could take away from some of its sales potential.
Despite this, however, Kellogg is clearly eying its share of this new market, and taking the younger generation’s push to go green – literally and figuratively – to the next level. In a statement, the company noted, “Our brand is really leaning in and making sure that we’re taking our responsibility as America’s number one veggie burger brand seriously.”
Salesforce (NASDAQ:CRM) isn’t a plant-based distributor, but it is a company to watch as the broader ESG push catches fire. Though its primary function is as a SaaS company focusing on creating a platform to improve customer service, it’s diving in headfirst in its commitments to sustainability, charity, and overall positive action within the community.
ESG is a big part of Salesforce’s core values. In fact, Salesforce CEO Marc Benioff wrote in an op-ed for New York Times arguing for a new form of capitalism that, “In the United States, income inequality has reached its highest level in at least 50 years, with the top 0.1 percent — people like me — owning roughly 20 percent of the wealth while many Americans cannot afford to pay for a $400 emergency. It’s no wonder that support for capitalism has dropped, especially among young people.”
Amazon (NASDAQ:AMZN) is going all-in on the ESG boom. The tech giant has gone from selling books to selling practically every other imaginable item from one easy-to-use website. And it’s done so with an ESG twist. Not only has Amazon taken the lead in reducing its own emissions, but it’s also pushed its suppliers, manufacturers, and delivery infrastructure to do the same.
And it’s just getting started. Given the fact that it is on the cutting-edge of consumer data, with over 600 million items for sale, Amazon has been able to predict consumer trends and bring in new offerings that will suit consumer needs. And that includes entire departments dedicated to plant-based diets and other plant-based lifestyle options. It’s truly got its fingers in every pie.
Canadian:
Burcon NutraScience Corporation (TSX:BU) is a Canadian tech firm transforming what people think about a plant-based diet. It is known for its high-purity, sustainable, flavorful, and affordable products. The company has checked every box in the modern customer’s book. Founded over 20 years ago, Burcon has been at the forefront of the since 1998, and it’s only become more refined since.
In its mission statement, Burcon explains that it “seeks to improve the health and wellness of global consumers through the discovery and development of sustainable, functional, and renewable plant-based products for the global food and beverage industries.”
Else Nutrition Holdings Inc. (CSE:BABY) is a unique plant-based lifestyle company from Canada. Else Nutrition has taken a different approach than many of its competitors, specializing in baby food. The company was a first-mover in this interesting space, offering a well-rounded, clean, sustainable plant-based approach to baby food.
Else Nutrition’s products deliver all of the same benefits as typical baby food, but with a plant-based twist. In fact, 92% of their products are made from three core healthy ingredients, almonds, tapioca, and buckwheat. And the best part is that they keep the good parts of the food intact. They never alter the plants’ chemistry or remove any of the micronutrients, they just change the texture.
Maple Leaf Foods (TSX:MFI) is a major player in the Canadian food industry. For 30 years, Maple Leaf has been making key acquisitions, producing top-quality food, and leading in new innovations to make sure to deliver the absolute highest quality products for all of its consumers around Canada. And in 2019, it announced its plans to jump into the plant-based foods world with a $310 million facility in Indiana.
Maple Leaf Foods is also committed to cutting its own carbon footprint. In fact, in November last year, the company announced that it was the first major carbon-neutral food company – a major accomplishment in a world that is transitioning to green energy.
The Very Good Food Company Inc. (CSE:VERY) is an innovative Canadian company that making major waves in the “green lifestyle” movement. With the slogan, “we believe in butchering beans, not animals,” they’re looking to tap into the plant-based niche in a hurry. And it’s resonated very well with investors.
Since IPOing earlier this year, the Very Good Food Company has seen its share price grow by over 70%, and it is just getting started. The company is aggressively opening new facilities, signing high profile deals, and is quickly becoming a favorite in Canada’s fast-growing plant-based lifestyle scene.
Modern Meat Inc (CSE:MEAT) is a Canadian alternative to its American cousin, Beyond Meat. It has nailed its marketing angle with a series of appealing Instagram-worthy products that could easily sway even the biggest meat eater. The company is looking to make the plant-based lifestyle trendy. And consumers are loving it.
Modern Meat announced in early October that its stock had sold out for over 15 weeks in a row. “We are pleased to announce that our sellout streak is continuing and there is an obvious demand for our products. Despite the interest in our products we are currently constrained by our production capacity and continuing the set-up of our new facility,” stated Tara Haddad, Chief Executive Officer of the Company.
By. Paul Reed
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Posted by AGORACOM-JC
at 8:57 AM on Monday, October 26th, 2020
Company has agreed to partner with Les Marches TAU Natural Food Stores who will assist PlantX in launching a new line of PlantX private label products, make available TAU’s products to the PlantX e-commerce platform and provide consulting services for PlantX’s planned brick and mortar locations
New private label products will include PlantX Organic Black Rice, PlantX Red Pepper Tapenade, PlantX Extra Virgin Olive Oil, PlantX Chocolate Hummus and PlantX Coffee Beans, among others
VANCOUVER, BC , Oct. 26, 2020 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) is pleased to announce that the Company has agreed to partner with Les Marches TAU Natural Food Stores (” TAU “) who will assist PlantX in launching a new line of PlantX private label products, make available TAU’s products to the PlantX e-commerce platform and provide consulting services for PlantX’s planned brick and mortar locations.
The partnership will allow PlantX, the digital face of the plant-based community and the one-stop-shop for everything plant-based, to further expand its category verticals by adding more options to its private label selection, which currently includes Canadian glacier water and plant-based meals. The new private label products will include PlantX Organic Black Rice, PlantX Red Pepper Tapenade, PlantX Extra Virgin Olive Oil, PlantX Chocolate Hummus and PlantX Coffee Beans, among others. These private label products will be 100% plant-based and organic, and will be available on the Company’s ecommerce platforms, PlantX.com and PlantX.ca , and on the shelves at LIV Marketplace in San Diego . The Company believes that private label products will be an important growth segment for PlantX. According to ResearchAndMarkets.com, the global private label food and beverages market is expected to grow by $215.81 billion during 2020-2024. 1
TAU will make available its products from its six mega health food stores to the PlantX e-commerce platform, which will allow for the addition of over 5,000 new items, including brands like Silk, Gardein, Yves Cuisine, Earth Balance and Vega , to the PlantX inventory. With years of experience in the supermarket space, TAU will also provide consulting services to PlantX to develop floor plans alongside Iris Construction Management and make suggestions for the Company’s Liv Marketplace location in San Diego , as well as future franchise locations based on its extensive knowledge of consumer behavior.
Founded in 1978, TAU offers high-quality organic products in its six supermarkets across Quebec . The products contain no artificial colours, additives, chemical preservatives or unnatural occurring sulfites and are all ethically sourced with a low carbon footprint in mind.
“We love being able to offer more private label products to our selection,” said Julia Frank , PlantX CEO. “Thanks to Les Marches TAU, we are able to offer these new organic and delicious additions to our brand in the ever-growing plant-based space.”
“We are very excited to be collaborating with PlantX, a company that shares the same values for health and quality that we do,” said Paul Robbie Brown , Vice President of Les Marches TAU. “An important point of our mission has always been to increase the availability of all of our high quality products. Together, we will do so in a significant and major way.”
The Company is actively seeking to establish its first Canadian brick and mortar location in Squamish, British Columbia for e-commerce distribution and to sell its private label products.
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 TAU being able to provide consulting services to PlantX brick and mortar locations and help the Company launch a new line of PlantX private label products, PlantX’s next wave of private label products including PlantX Organic Black Rice, PlantX Red Pepper Tapenade, PlantX Extra Virgin Olive Oil, PlantX Chocolate Hummus and PlantX Coffee Beans, private label products being an important growth segment for the Company; the availability of TAU’s products from its six mega health food stores, the addition of over 5,000 new items to the PlantX inventory, 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.
