Listing would provide access to the United States market and position Company to accelerate its business strategy
VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) — via InvestorWire – 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.
In advance of an anticipated listing on NASDAQ, PlantX will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission (the “SEC”). The listing of the Company’s common shares on NASDAQ remains subject to the approval of NASDAQ and the satisfaction of all applicable listing and regulatory requirements, including meeting the necessary share price requirements and the SEC declaring the Form 40-F Registration Statement effective. The Company will continue to maintain the listing of its common shares on the Canadian Securities Exchange under the symbol “VEGA.”
“With our sustained and continuous growth, this is a natural step forward,” said PlantX founder, Sean Dollinger. “We’re looking forward to the opportunities that this move can create for the plant-based movement.”
For additional information, please contact:
Chief Marketing Officer
The Company website is http://investor.PlantX.com/.
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” and “forward-looking statements” within the meaning of applicable securities laws (collectively referred to herein as “forward-looking information”). 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 with respect to the timing, receipt of regulatory approval for, and listing of the Company’s common shares on a U.S. stock exchange and the filing of a Form 40-F Registration Statement with the United States Securities and Exchange Commission, the benefits of a NASDAQ listing including broadening the Company’s investor base and enhancing the Company’s visibility to enhance shareholder value, and statements regarding 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 inability to comply with all NASDAQ listing requirements including meeting the necessary share price threshold for a minimum of 90 trading days and meeting the stockholders’ equity requirements, the possibility that the SEC will not bring the Company’s Form 40-F registration statement effective, the Company’s ability to comply with 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.