- The company will be utilizing Amazon’s fulfillment services, customer service, and network of affiliates in the U.S. and Canada
- The Amazon platform will also feature PlantX-label plant-based brands and products for sale
- The overall PlantX platform features a one-stop shop for all things plant-based, including grocery, meal delivery, The Plant Shop, weekly recipes, and more
- The company is preparing to begin NCIB on or around September 15, 2021, through September 14, 2022. The shares represent approximately 5% (6,071,757) of the common shares available for purchase.
- Through PI Financial Corp., the company will make the purchase of the common shares for cancelation as they feel their value as a company is underrepresented based on these shares
- An additional purchase of common shares is expected to be initiated by Executive Chairman Fred Leigh up to 5% of the common share available
PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is moving closer to redefining the plant-based community by becoming the most trusted and convenient destination online for people living plant-based lives. PlantX has recently announced that it will be launching as a Seller on the Amazon Marketplace. The company will launch both Canadian and U.S. online stores, list and sell plant-based products, and fulfill customer orders. This strategic e-commerce maneuver will allow PlantX to utilize Amazon’s fulfillment services, customer service, and network of affiliates (https://ibn.fm/Vtt0M).
“Launching on the Amazon platform is a great opportunity to boost access to our plant-based brands and products. We are particularly excited about adding PlantX private label products to this new platform,” PlantX Founder Sean Dollinger said. “We believe it will increase our impact as we expand our in-house brands.”
PlantX’s platform is positioned to serve as the digital face of the plant-based community, providing a one-stop-shop for everything “plant,” including an easy-to-use e-commerce experience that features:
- Plant-based grocery items – from pantry needs to vitamins, cosmetics, pet food, and more
- Meal delivery with recipes from renowned plant-based chefs from around the world
- The Plant Shop – delivering indoor, household plants to homes across Canada and the US
- Weekly, easy-to-follow plant-based recipes
- Partnerships with restaurants, nutritionists, chefs, and other brands
- Access to a community of like-minded individuals
In addition to the online presence, PlantX connects with consumers through the brick-and-mortar store locations and home delivery – primarily focuses on consumer-packaged goods (“CPGs”) with plant-based opportunities.
The company is also planning to commence a normal course issuer bid (“NCIB”). An NCIB is a strategic move where a company purchases a percentage of its issued and outstanding common shares. In the case of PlantX, the company plans to purchase the equivalent of 5% (6,071,757) of the available common shares because it believes that the market price may not fully reflect the underlying value of the business or its future prospects. PlantX believes purchasing and canceling these common shares is an appropriate use of financial resources that will ultimately enhance shareholder value (https://ibn.fm/jW8QQ).
In addition to the company’s common stock purchase, Executive Chairman Fred Leigh also intends to purchase up to 5% of PlantX’s issued and outstanding common shares on the open market through the CSE facilities. PlantX’s NCIB is expected to take place on or around September 15, 2021, terminating on or around September 14, 2022, with all common shares purchased under the NCIB on the open market through the CSE. PlantX plans to execute the plan through PI Financial Corp., a broker it has enlisted to handle the NCIB on behalf of the company. Every common share purchased will be done so for cancellation.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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