EDMONTON, March 27 /CNW/ - Planet Organic Health Corp. - (TSX Venture
Exchange - POH) - There was excitement tinged with sadness at the opening of
the completely renovated Healthy's Nutrition store in the lower level of the
historic Toronto Stock Exchange Tower on March 24th.
Healthy's President, Ameen Ferris, said the dramatic makeover of the
Exchange tower outlet under a new banner called Planet Organic Living was a
huge success. "I'm confident we will easily break our increased customer
traffic expectations," Mr. Ferris said. "But it was a sad day for us and a lot
of our customers because our long-time manager, John O'Keefe, wasn't there to
see the opening."
Mr. O'Keefe, a 42-year-old father of a nine-year-old boy, was an innocent
bystander when he was walking home on Toronto's famous Yonge St. in early
January and was felled by a gunman firing a warning shot at a bar bouncer.
Mr. Ferris said Mr. O'Keefe was manager of the Healthy's Exchange store
for seven years. He was passionate about the store products and had an uncanny
ability to remember each customer's name no matter how brief a time that
customers spent in the cozy 650 square foot store.
Healthy's is a vitamin and supplement outlet that is a subsidiary of
Planet Organic Health Corp.
In addition to opening the revamped Stock Exchange outlet, Healthy's also
opened a brand new store in Milton, Ontario, the fastest-growing community in
that province that is located west of Toronto.
The 1,400 square foot Milton store was completed in a similar vibrant
colour scheme and layout and also operates under the Planet Organic Living
Healthy's has eight outlets, all of them in southern Ontario. The
remaining six Healthy's outlets will also be remodeled and as they are made
over, they will also operate under the Planet Organic Living banner.
Planet Organic CFO Darren Krissie said, "We are delighted to unveil the
renovated Healthy's store in downtown Toronto and the new outlet in Milton.
The two stores will serve as a trial to determine if the sharp and snappy look
of our Planet Organic Living stores will have the same customer drawing power
as it does for our Market stores."
The opening of the two Healthy's outlets also fits with the Planet
Organic Health Corporation's expansion goals to methodically and steadily
build out new outlets in all of Planet's divisions and to acquire other retail
outlets that fit into the Planet family, Mr. Krissie added.
"Our business plan has seen company annual revenues grow from one store
in 2001 of $1.6 million to forecasted revenue this year of over $100 million,"
Mr. Krissie said.
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 eight
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 and Planet Organic Living and Healthy's banners. Another
POHC company, Trophic Canada, is the country's leading manufacturer of natural
supplements. The Company has a total of 64 stores throughout Canada and 11 in
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain statements contained herein may contain forward-looking
information within the meaning of Canadian securities legislation. Such
forward-looking statements or information include, but are not limited to,
statements or information with respect to unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements or
information. Forward-looking statements and information are necessarily based
upon a number of estimates and assumptions that, while considered reasonable
by management, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Many factors could cause POH's
actual results, performance or achievements to be materially different from
any future results, performance or achievements that may be expressed or
implied by such forward-looking statements or information, including among
other things those risk factors which are identified elsewhere in documents
that POH files from time to time with securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements or information prove
incorrect, actual results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected. Accordingly,
readers should not place undue reliance on forward-looking statements or
information. Subject to applicable securities laws, the Company expressly
disclaims any intention or obligation to update or revise any forward looking
statements and information whether as a result of new information, future
events or otherwise. All written and oral forward-looking statements and
information attributable to us or persons acting on our behalf are expressly
qualified in their entirety by the foregoing cautionary statements.
For further information:
For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667; Bob Beaty, The Howard Group Inc.,
Toll Free: (888) 221-0915, Info@howardgroupinc.com; Ameen Ferris, President,
Healthy's Natural Living, (416) 578-2565