Vancouver, British Columbia — October 20, 2020 — PlantX Life Inc. (the “Company” or “PlantX”) (CSE: VEGA, Frankfurt: WNT1), is pleased to announce that the Company has entered into an agreement with Iris Construction Management (“Iris”) to design and build PlantX’s flagship brick and mortar shop, Liv Marketplace, in San Diego and future franchises across North America.
The partnership will allow PlantX, the one-stop-shop for everything plant-based and the digital face of the plant-based community, to continue expanding its category verticals with franchise brick and mortar locations. In addition to construction, Iris will help create turnkey solutions for potential PlantX franchisees looking to seamlessly add a cafe, shop, or any other planned features. Each PlantX location is expected to also contain a plant-based education center, following in the footsteps of industry juggernauts Amazon(NASDAQ: AMZN), Apple (NASDAQ: AAPL)and Tesla (NASDAQ: TSLA).
In an effort to replicate the strategy of the wildly successful Canadian health food franchise, Copper Branch, PlantX plans to grow its high-end, plant-based, easy access meal offerings and products in a growing North American plant-based market already estimated to be worth US$4.5 billion.
Similar to its extensive digital platforms, www.PlantX.com and www.PlantX.ca, the brick and mortar franchises will allow consumers to purchase everything that is available on the website including plant-based vitamins and supplements from Stay Wyld Organics, groceries like Mid-Day Squares plant-based chocolate bars and Minor Figures oat milk, PlantX-branded water and plant-based pet products. Each brick and mortar location is also expected to feature a coffee shop and restaurant with plant-based meals created by Los Angeles based chef, Gregg Drusinsky.
Iris is the one-stop-shop for all commercial construction needs. Iris specializes in design, planning, budgeting, tendering selection, money management, and quality control. With over thirty years of experience in the industry, its knowledgeable team identifies the vulnerable areas of any project and provides creative solutions to keep its clients on time and on budget.
Iris has delivered projects up to 120,000 sq ft in size and up to $1.6B in cost. Iris not only offers high quality engineering and accounting, but offers education to their clients along the way. Iris takes pride in designing its projects right the first time, executing a customized management model that will optimize their clients’ time and money.
“We are very happy to be working with Iris to design and build our flagship shop,” said Julia Frank, PlantX CEO. “The brick and mortar location and future franchises will be an important extension of our brand identity and we know they will deliver.”
“Our concept will allow business owners who have cafes, stores, etc. to join a multi-billion dollar industry pretty much overnight,” said Sean Dollinger, PlantX founder. “We invite anyone who is interested in starting a franchise to join the movement. Even if people have 500 sq ft of temp space, we have a model that works for them.”
“Iris has had nothing short of an incredible experience working with the entire PlantX team,” said Tatiana Ursulyak, Iris COO. “We have worked with a plethora of brands from inception to completion across the globe, and PlantX truly stands out as a unique, in-demand franchise option. Our team looks forward to working with PlantX on their expansion across North America to ensure all projects stay on time and on budget.”
Since its inception in October, 2019, the Company’s PlantX platform has quickly emerged as an industry leader. As the fledgling plant-based sector continues its explosive growth, the Company will be at the forefront by continually evolving and delivering new ways to expand the PlantX brand. With its forward-looking, cutting edge approach, the Company will continue to secure significant partnerships across North America while exploring innovative ways to expand both its e-commerce capabilities and digital resources to help educate, inspire, and uplift consumers.
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The Company website is https://investor.plantx.com/.
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.
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 statements regarding the designing and building of Liv Marketplace and future brick and mortar locations across North America, the continued expansion of the Company’s category verticals with brick and mortar locations, the offering of high-end, plant-based, easy access meals and products through the Company’s future brick and mortar locations, the inclusion of a plant-based education center in all of the Company’s future brick and mortar locations, the offering and availability of all of its online products at the Company’s future brick and mortar locations, the featuring of a coffee shop and a restaurant with plant-based meals made by Gregg Drusinsky at the Company’s future brick and mortar locations, the Company continuing to secure partnerships across North America 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 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.