PlantX Completes Acquisition of U.S. based Little West LLC
VANCOUVER, BC, May 10, 2021 /CNW/ - PlantX Life Inc. ("PlantX" or the "Company") (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce that the Company has closed on a previously announced transaction to acquire Little West LLC ("Little West"). The Company previously announced on April 30, 2021 that it had, through PlantX Lifestyle USA Inc., a wholly-owned subsidiary of the Company, entered into a membership interest purchase agreement dated April 29, 2021 to acquire all of the issued and outstanding limited liability membership interest of Little West (the "Acquisition"). The Acquisition closed at previously disclosed terms.
Little West will continue to be run and operated by its founders Cassandra Troy and Andrew Walker, Brad Neumann and their California-based team, while leveraging PlantX's extensive e-commerce platform, technical business expertise and marketing resources in aims of promoting Little West products and accelerate the Company's expansion across the U.S. and Canada. The Acquisition of Little West provides PlantX with expertise in the cold-pressed juice vertical which it is anticipated will enable the Company to further grow in the North American market.
"It is truly exciting to finalize our Acquisition and partnership with Little West" said Sean Dollinger, PlantX Founder. "We've already seen a lot of interest in the Little West cold-pressed juices since we announced our intention to acquire this amazing company, and we are very much looking forward to working together with Little West team and capitalize on our mutual strengths to enhance the Company's growth moving forward."
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 ecommerce 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.
About Little West LLC.
Regarded as a leader in quality standards and fresh taste for cold-pressed juice, Little West LLC is a California-based small business that produces ultra premium, small batch, cold-pressed juices with no preservatives, concentrates, or added sugars. Founded in 2013 using fresh produce from farmer's markets, Little West stays true to their community roots and continues to source all fruits and vegetables from local family farms. Every Little West juice contains 2-4 pounds of non-GMO produce that's selected by hand, cold-pressed, and bottled within 48 hours of harvest for peak flavor, freshness, nutritional value, and health benefits. Little West also gives back to the community by donating a portion of all profits to Big Green Learning Gardens and planting 1 tree for every online order to offset carbon emissions.
CONTACT INFORMATION
For additional information, please contact:
Alexandra Hoffman
Chief Marketing Officer
(323)536-7973
[email protected]
The Company website is http://investor.PlantX.com/.
To visit the Company's YouTube channel, click here.
Forward Looking-Information
This press release contains "forward-looking information" within the meaning of applicable securities laws. 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 in respect of the completion of the Acquisition, the Company's menu and product development, the Company's brick-and-mortar locations, the expansion of the Company's meal delivery program, and 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 receipt of all necessary corporate, shareholder and regulatory approvals for the Acquisition, the Company's ability to comply with all 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 pandemic; the Company's and Little West's limited operating histories, 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; the fluctuation in the price of PlantX's common shares; 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.
SOURCE PlantX Life Inc.
Alexandra Hoffman, Chief Marketing Officer, (323)536-7973, [email protected]
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