VANCOUVER, British Columbia — June 3, 2021 /CNW/ — PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) (“PlantX” or the “Company“) is pleased to announce that is has entered into a partnership to open a new PlantX branded “ghost kitchen”, which is a cooking facility used only to deliver meals, in Los Angeles, California. The PlantX ghost kitchen marks the initial step in the Company’s plan to launch and implement its PlantX meal delivery services across the United States.
“We’ve seen a clear upwards trend in the popularity of meal delivery services in the last few years and it is crucial to tailor our operations in a way that can efficiently meet the increased demand,” said PlantX Founder, Sean Dollinger. “The new kitchen is a great opportunity for PlantX to adopt the increasingly popular ghost kitchen model. It is also in line with our aim to reach our customers in the most innovative and meaningful ways possible.”
The new 2,200-square-foot kitchen is a partnership between PlantX and MK Cuisine Global, LLC (“MKC”) which will be used to test-phase the Company’s U.S. meal delivery program, which is expected to launch in the third quarter of 2021. The new facility was carefully selected due to its state-of-the-art cooking equipment and its location in the heart of Los Angeles. Using high-quality and locally-sourced produce, the meals for the PlantX delivery service will be designed by MKC in collaboration with PlantX. The meals will be delivered using 100% biodegradable packaging and PlantX intends to use a no-waste food program to ensure that any leftover perishable ingredients from making the PlantX meals, will be further repurposed and used in MKC restaurants. These initiatives are aligned with the Company’s value of supporting sustainability programs.
“We are excited to transform the space into a PlantX creation kitchen,” said PlantX Chief Culinary Officer, Chef Matthew Kenney. “The large, open format allows for easy communication and collaboration between our team members, and the central location is ideal for combining the greatest minds in culinary Los Angeles.”
The online meal delivery industry is one of the fastest growing industries on a global scale, which they project to reach US$182.3B by 20241. The U.S. ranked as the second-largest food delivery market worldwide after China, and is estimated at US$28.5B in 2021. Growing at a CAGR of 4.3% between 2021 and 20242, the U.S. food delivery sector is projected to reach a market volume of US$32.3B by 20242. The Company aims to capitalize on this high-impact industry through the ghost kitchen initiative, as well as its carefully executed US meal delivery plan which will be launched in the summer of 2021.
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.
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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, the Company’s ghost kitchen partnership with MKC, the expansion of the Company’s meal delivery service in the United States, expectations and projections of market size of the online food delivery industry, and the business and strategic plans of the Company.
By its 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 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 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.