VANCOUVER, BC, September 6, 2022 /CNW/ – PlantX Life Inc. (CST: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) (“PlantX” or the “Company”), the digital face of the plant-based community, operating a one-stop-shop for plant-based products, announced today today’s unaudited monthly financial metrics for August 2022.
PlantX generated a monthly gross income of $1.381 million in August 2022an increase of 32% compared to $1.048 million in August 2021. This increase is mainly due to the expansion of our distribution channels and our commercial footprint. Gross profit for August 2022 has been $525,000i.e. 38% gross margin, compared to the gross margin of $367,000i.e. 35% gross margin in August 2021. Notably, cold-pressed juice brand Little West continues to generate strong sales among its retail distribution partners. Additionally, the Chicago Uptown site had its best month since it was acquired by PlantX in December 2021. This growth was driven by an expanded selection and special events.
“PlantX continues to deliver significant year-over-year growth, driven by positive market reception for the Little West cold-pressed juice brand and the success of live events at our retail outlets to drive revenue. in-store traffic as we build customer loyalty,” PlantX said. CEO, Lorne Rapkin. “Consumers are increasingly viewing PlantX as the first stop for all things plant-based lifestyle, and this growing presence is translating into accelerating revenue.”
The financial metrics 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 a one-stop-shop for plant-based products. With its fast-growing vertical categories, the company offers its customers across North America over 5,000 plant-based products. In addition to offering a meal and indoor plant delivery service, the Company is currently considering expanding its product lines to include a juice and coffee business. 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’s digital presence aims to remove 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. 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 “can” or “will” happen, or through policy discussions. Forward-looking information contained herein includes, but is not limited to, statements regarding 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 are not 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: receiving a request sufficient for the Offer; the Company’s ability to comply with all applicable governmental 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 the east Europe; having 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.
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