Vancouver, British Columbia — October 26, 2020 — PlantX Life Inc. (the “Company” or “PlantX”) (CSE: VEGA, Frankfurt: WNT1) is pleased to announce that the Company has agreed to partner with Les Marches TAU Natural Food Stores (“TAU”) who will assist PlantX in launching a new line of PlantX private label products, make available TAU’s products to the PlantX e-commerce platform and provide consulting services for PlantX’s planned brick and mortar locations.
The partnership will allow PlantX, the digital face of the plant-based community and the one-stop-shop for everything plant-based, to further expand its category verticals by adding more options to its private label selection, which currently includes Canadian glacier water and plant-based meals. The new private label products will include PlantX Organic Black Rice, PlantX Red Pepper Tapenade, PlantX Extra Virgin Olive Oil, PlantX Chocolate Hummus and PlantX Coffee Beans, among others. These private label products will be 100% plant-based and organic, and will be available on the Company’s ecommerce platforms, PlantX.com and PlantX.ca, and on the shelves at LIV Marketplace in San Diego. The Company believes that private label products will be an important growth segment for PlantX. According to ResearchAndMarkets.com, the global private label food and beverages market is expected to grow by $215.81 billion during 2020-2024.
TAU will make available its products from its six mega health food stores to the PlantX e-commerce platform, which will allow for the addition of over 5,000 new items, including brands like Silk, Gardein, Yves Cuisine, Earth Balance and Vega, to the PlantX inventory. With years of experience in the supermarket space, TAU will also provide consulting services to PlantX to develop floor plans alongside Iris Construction Management and make suggestions for the Company’s Liv Marketplace location in San Diego, as well as future franchise locations based on its extensive knowledge of consumer behavior.
Founded in 1978, TAU offers high-quality organic products in its six supermarkets across Quebec. The products contain no artificial colours, additives, chemical preservatives or unnatural occurring sulfites and are all ethically sourced with a low carbon footprint in mind.
“We love being able to offer more private label products to our selection,” said Julia Frank, PlantX CEO. “Thanks to Les Marches TAU, we are able to offer these new organic and delicious additions to our brand in the ever-growing plant-based space.”
“We are very excited to be collaborating with PlantX, a company that shares the same values for health and quality that we do,” said Paul Robbie Brown, Vice President of Les Marches TAU. “An important point of our mission has always been to increase the availability of all of our high quality products. Together, we will do so in a significant and major way.”
The Company is actively seeking to establish its first Canadian brick and mortar location in Squamish, British Columbia for e-commerce distribution and to sell its private label products.
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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 TAU being able to provide consulting services to PlantX brick and mortar locations and help the Company launch a new line of PlantX private label products, PlantX’s next wave of private label products including PlantX Organic Black Rice, PlantX Red Pepper Tapenade, PlantX Extra Virgin Olive Oil, PlantX Chocolate Hummus and PlantX Coffee Beans, private label products being an important growth segment for the Company; the availability of TAU’s products from its six mega health food stores, the addition of over 5,000 new items to the PlantX inventory, , 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.