(TSX Venture Exchange - POH)
EDMONTON, July 24 /CNW/ - Strong cash flows are financing expansions in
the Planet Organic Health Corporation's (POH) various divisions.
The first evidence of that is the opening this fall of another Planet
Organic Market store in Toronto.
About the same time, renovations that will double the size of the
Edmonton flagship store will be completed this fall, POH added.
"It's wonderful to see two major undertakings taking place at the same
time in the East and the West, in two of the financial powerhouses in the
country," said Darren Krissie, VP of Corporate Development and CFO of POH.
There are four Planet Organic Market stores in Alberta, two in Edmonton
and two in Calgary and others spread across the country to make a total of
10 Market stores.
POH's Market division took possession of the new Toronto store in July
and has construction crews at work to meet the fall opening deadline.
Previously announced makeovers and expansions are continuing in POH"s
For example, the new $1 million organic kitchen for Mrs. Green's Natural
Market stores, located north of New York City, is on schedule for its
completion this fall. That was announced April 15, 2008.
In addition, new stores are being added to the Sangster's Health Centres
and complete makeovers at Healthy's Natural Living stores are continuing.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry
company, comprising manufacturing, distribution and retail. Planet is listed
on the TSX Venture Exchange as a Tier One company. Planet operates nine
natural food supermarkets throughout Canada under the Planet Organic Market
banner and eleven natural food supermarkets in the U.S. under the Mrs Green's
Natural Markets banner. The Company also operates 48 natural health outlets
under the Sangster's Health Centre banner and eight natural health outlets
under the Healthy's & Planet Organic Living banner. Another POHC company,
Trophic Canada is the country's leading manufacturer of natural supplements.
The Company has a total of 65 stores throughout Canada and 11 in the U.S.
Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Planet. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"anticipates", "estimates", "continues", or similar words and include but are
not limited to, statements regarding the accretive effects of the acquisition
and the anticipated results and expected benefits of the acquisition upon
closing thereof. Planet Organic believes the expectations reflected in such
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. Forward-looking statements are
not guarantees of future performance and involve a number of risks and
uncertainties some of which are described in Planet Organic's continuous
disclosure documents. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties and other factors, which may cause
Planet Organic's actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general economic, market and business conditions;
industry capacity; competitive action by other companies; refining and
marketing margins; the ability of suppliers to meet commitments; actions by
governmental authorities including increases in taxes; changes in
environmental and other regulations; and other factors, many of which are
beyond the control of Planet Organic. Any forward-looking statements are made
as of the date hereof and Planet Organic does not undertake any obligation,
except as required under applicable law, to publicly update or revise such
statements to reflect new information, subsequent or otherwise.
For further information on POHC and its five divisions, please visit its
www.planetorganichealthcorp.com or www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: about this news release, please contact: Planet
Organic Health Corp., Darren Krissie, VP Corporate Development, CFO, (780)
719-4667; The Howard Group Inc., Bob Beaty, Toll Free: 1-888-221-0915,