PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTC: PLTXF), the digital face of the plant-based community operating a one-stop shop for plant-based products, has completed the share exchange agreement with Veg House Holdings Inc. According to the announcement, the company closed on the agreement on Oct. 6, 2023; the company said the transaction “signifies a noteworthy stride towards solidifying our enhanced footprint within the expanding domains of plant-based lifestyle and wellness.” Based on the agreement, PlantX transferred a collection of assets in exchange for roughly 50.9% of the total issued and outstanding shares of Veg House at the time of the closing; these assets encompass wholly owned subsidiaries including Vegaste Technologies US Corp., Little West LLC, Plant Based Deli LLC and PlantX Living Inc.
Assets also include the company’s 53% ownership stake in Portfolio Coffee Inc. and 51% ownership in Eh Coffee Corp. In exchange, PlantX acquired six million shares out of the current estimated 11,778,639 outstanding shares in Veg House, resulting in a significant 50.9% ownership stake in the Cayman Islands-based entity. “By means of this share exchange agreement, funds were secured by Veg House at a post-transaction valuation of $11.778 million, based on the most recent private placement price of $1 USD per share, underlining the enduring enthusiasm for the industry and underscoring the significance of this transaction for steadfast supporters of the Canadian company,” said PlantX Life CEO Lorne Rapkin in the press release.
To view the full press release, visit https://ibn.fm/WLj92
About PlantX Life Inc.
PlantX is committed to being the digital face of the plant-based community as well as the one-stop shop for plant-based products. With its fast-growing category verticals, the company offers customers across North America more than 5,000 plant-based products. PlantX also has other brands in the PlantX portfolio, including a juice brand, a coffee company, a plant shop and brick-and-mortar grocery stores. PlantX uses its digital platform to build a community of like-minded consumers and, most importantly, to provide education. PlantX’s digital presence eliminates entry barriers for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information about this company, please visit www.PlantX.com and www.PlantX.ca.
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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