VANCOUVER, BC, April 19, 2022 /PRNewswire/ – PlantX Life Inc. VEGA WNT PLTXF (“PlantX“or the”Company“) is pleased to report that it has generated monthly gross income of $1,719,577 for March 2022. The Cost of Goods Sold value was $1,117,725 for the same month.
PlantX continues to experience record increases in month-over-month and year-over-year business-to-consumer revenue, as demonstrated by previous financial results. For the month of March 2022the Company generated gross revenues of $1,719,577reflecting a 28% increase from February 2022and a 168% increase, net of wholesale revenue, over the month of March 2021.
“The company’s continued financial progress has been consistent with management’s efforts to invest in strategic partnerships to efficiently and proactively accelerate expansion,” said PlantX founder, Sean Dollinger. “Beyond the growth that PlantX is experiencing, the company has invested heavily in maximizing the quality of its current services and programs to better serve its growing customer base.”
“We are extremely proud of our strong sales figures for March 2022, which clearly indicate the constant growth potential of PlantX. As PlantX continues to focus on business-to-consumer efforts, we are seeing an increase in our margins while building a loyal customer base,” said PlantX CEO, Lorne Rapkin. “Our focus on investing in quality, innovation and strategic partnerships is clearly a rewarding strategy for PlantX, and we look forward to reaching new financial and operational milestones in our expansion journey.”
The financial results disclosed in this press release are prepared by management and have not been audited or reviewed by the Company’s auditors. Unless otherwise indicated, all amounts are expressed in Canadian dollars.
About PlantX Life Inc.
As the digital face of the plant community, the PlantX platform is the one-stop-shop for everything plant-related. With its fast-growing vertical categories, the company offers its customers across North America over 5,000 plant-based products. As well as offering meal and houseplant deliveries, the company currently plans to expand its product lines to include cosmetics, clothing and its own brand of water – but the company is not limiting itself. to an e-commerce platform. The company uses its digital platform to create a community of like-minded consumers and, most importantly, to provide education. His successful business is built and strengthened on partnerships with top nutritionists, chefs and brands. The company is eliminating barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.
The Company’s website is http://investor.PlantX.com/.
This press release contains “forward-looking information” within the meaning of applicable securities laws. Any statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information may be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, ” anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative form of these terms, or other similar words, phrases and grammatical variations, or statements that certain events or conditions “may” or “will” occur, or through discussions of strategy.The forward-looking information contained herein includes, without limitation, the Company’s business and strategic plans.
By its nature, forward-looking information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that the expectations, forecasts, predictions, projections or conclusions will not prove to be accurate; that the assumptions may not be correct; and that the 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 contained in this press release, including, without limitation: the ability to the Company to comply with all applicable government regulations, including all applicable food safety laws and regulations; impacts on the Company’s business and operations due to the COVID-19 outbreak; the conflict in Eastern Europe; a limited operating history; the Company’s ability to access capital to meet its future financing needs; the Company’s dependence on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Other risk factors can also be found in the Company’s continuous disclosure documents, which have been filed on SEDAR and can be viewed at www.sedar.com. Readers are cautioned to carefully consider these factors, as well as other factors, uncertainties and potential events, and not to place undue reliance on any 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 as of 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 differences between subsequent actual events and such forward-looking information, except as required by applicable law.
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SOURCE PlantX Life Inc.