EDMONTON, June 5 /CNW/ - Planet Organic Health Corp.( "Planet Organic") -
(TSX Venture Exchange - POH) announced today that the acquisition of Mrs
Green's Natural Market Inc. ("Mrs Greens") will close in the first week of
"There are a few bank documentation and processing items remaining on the
Canadian side which have taken longer than previously expected" states Darren
Krissie, CFO of Planet Organic. "We were hoping to close May 31, but decided
collectively to wait through the end of our fiscal year to avoid having to
audit "Mrs Green's" a second time for only a few weeks of revenue."
"All parties have agreed to the July closing" states Brent Knudsen,
President of Partnership Capital Growth Advisors, the firm that brought "Mrs
Green's" and "Planet Organic" together.
ABOUT PLANET ORGANIC HEALTH CORP.
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. The Company also operates 50 natural health outlets under the
Sangster's Health Centre banner and seven natural health outlets under the
Healthy's banner. Another POHC company, Trophic Canada is the country's
leading manufacturer of natural supplements. The Company has a total of 64
stores throughout the country.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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". 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:
For further information: Planet Organic Health Corp.: Darren Krissie, VP
Corporate Development, CFO, Tel: (780) 719-4667, Email: