- PlantX has made important moves recently, including additions to its Board of Directors, and the decision to commence an NCIB to repurchase up to 5% of its common shares
- Going forward, the company plans to sustain its ongoing retail branding initiative-renaming existing brick-and-mortar stores as “XMarket”
- Physical stores in British Columbia, Squamish, and Venice Beach, California, will be re-branded as XMarket
- The XMarket Squamish store will host a grand opening event on October 14, 2021, while the Tel Aviv one is scheduled for opening on November 15, 2021
PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) recently marked some significant milestones to improve its position for the remainder of the 2021 fiscal year. So far, the company has made key appointments to its Board of Directors and has also announced the intention to commence a normal course issuer bid (“NCIB”) to repurchase up to 5% of its common shares.
Decisions made by PlantX’s management so far have been geared toward achieving both its immediate and long-term goals. On September 16, 2021, it released a corporate update, affirming its commitment to these goals, highlighting what the company has done so far and what it plans to do next (https://ibn.fm/lszDC).
Most notable from the corporate update is PlantX’s ongoing retail branding initiative renaming its existing brick-and-mortar stores as “XMarket.” PlantX’s management reckons that this new identity will reflect the dynamic, interactive, and diverse in-store experience provided by the company’s physical retail locations. Currently, the company has physical stores in British Columbia, Squamish, and Venice Beach, California, all of which will be re-branded as XMarket.
PlantX also announced that the new XMarket name would brand PlantX’s store in Tel Aviv, scheduled for opening on November 15, 2021. The company also aims to launch a new website in Israel on the same date. This comes right after PlantX announced that it would launch as a seller on Amazon Marketplace, leveraging on this giant e-commerce corporation’s fulfillment services, network of affiliates in Canada and the United States, as well as its customer service (https://ibn.fm/XakwA).
The official unveiling of XMarket in Squamish, British Columbia, will feature a grand opening event on October 14, 2021. There will be vegan barbecue accompanied by the launch of a new PlantX-commissioned mural, painted by Alex Fowkes, a Squamish native and an incredible artist. This launch event will spot high-profile PlantX ambassadors, including Nick McNutt, a professional skier, and Rémy Métailler, a mountain bike athlete. Over 1,500 new plant-based items will be added to the Squamish XMarket product selection. Additionally, the company will offer all of its customers a free plant for each purchase of over $50 throughout the day.
Also of note is MK Cuisine Global LLC’s Plant-Based Deli, LLC (“New Deli”), a wholly-owned subsidiary that has posted impressive results recently. Offering a wide range of plant-based foods and ready-to-go meals, snacks, coffee, pantry staples, beer, and wine, this company has reported incredible growth since PlantX acquired it in May 2021. So far, it already has over 500 new plant-based items.
The company also announced that its Executive Chairman, Mr. Fred Leigh, currently owns 2,100,000 common shares and has purchased 250,000 shares since his recent appointment as chairman.
So far, PlantX has continued to position itself for growth and success, and it is paying off. The rest of the 2021 fiscal year looks brighter owing to what the company has done so far, the foundation it has laid, and its plans for the future.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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