JIVA Tech - PLTXF STOCK NEWS

PlantX Life Inc. (OTCQB: PLTXF) has announced the expansion of its e-commerce platform into the UK. The new site, www.PlantX.uk, will offer a wide selection of plant-based products, indoor plants, and educational resources. The Company partners with Access Fulfillment to establish a supply chain with over 20,000 square feet of refrigerated warehouse space. With a growing demand for plant-based diets in the UK, expected to reach £1.1 billion by 2024, PlantX aims for a competitive edge during the upcoming holiday season.

PlantX Life Inc. (CSE: VEGA, OTCQB: PLTXF) reported strong financial results for Q2 2022, achieving gross revenue of $2,826,790, an increase from $2,499,788 year-over-year. Despite this growth, the company incurred a net loss of $7,617,163, largely due to share-based compensation, leading to a loss per share of $0.07. The gross margin improved to $1,292,963 compared to $15,913 in 2020. The company ended the quarter with working capital of $10,153,199, including $9,582,510 in cash, indicating a solid liquidity position.

PlantX Life Inc. (OTCQB: PLTXF) has launched a new subscription service that allows customers to arrange automatic deliveries of their favorite products with discounts on pre-set intervals. This service aims to enhance the customer experience by providing a flexible and cost-effective shopping solution. Additionally, the company is employing a micro-influencer marketing strategy across social media platforms, engaging multiple influencers to expand its reach. The initiative is part of PlantX's goal to support healthy, plant-based living.

PlantX Life Inc. (OTCQB: PLTXF) has acquired majority interests in Eh Coffee Corp. and Portfolio Coffee Inc. for 913,320 PlantX Shares and $434,058.14 in cash. This strategic acquisition aims to expand PlantX's online offerings and physical locations, featuring exclusive coffee products. The company plans to enhance its e-commerce subscription model, leveraging existing distribution experience. The global coffee market was valued at $102.02 billion in 2020, projected to grow at a CAGR of 4.28% from 2021 to 2025.

PlantX Life Inc. (OTCQB: PLTXF) will celebrate the grand opening of its first U.S. XMarket store in Hillcrest, San Diego, on October 30, 2021, from 10:00 a.m. to 4:00 p.m. The 4,500 sq. ft. store features a plant-based retail space, café, sandwich shop, and an education center. The event includes free samples from Beyond Meat and other local brands. This expansion aims to enhance community ties and promote plant-based living. The company continues to grow its product offerings and strengthen its digital platform, providing a wide range of plant-based products in North America.

PlantX Life Inc. (OTCQB: PLTXF) announced the launch of two new XMarket stores within Hudson's Bay locations, set to open in Toronto on November 15, 2021, and Ottawa on November 22, 2021. These stores will feature a range of plant-based products, cosmetics, and an XMarket café in the Rideau location. This partnership enhances financial efficiency and brand recognition, while facilitating same-day deliveries in Toronto and Ottawa, potentially boosting sales and customer engagement.

PlantX Life Inc. announced that its subsidiary, Bloombox Club, has expanded its indoor plant delivery services to Canada. The launch includes a new website, bloomboxclub.ca, offering a variety of indoor plants, care packages, and accessories. Bloombox Club has successfully delivered over 100,000 plants to customers in the UK and Germany. This Canadian expansion aims to complement PlantX's existing offerings and enhance access to plant products for consumers.

PlantX Life Inc. (OTCQB: PLTXF) announces the grand opening event of its XMarket store in Squamish, British Columbia, on October 14. The event will highlight local plant-based brands, including Beyond Meat, and aims to engage the community with product sampling and educational experiences. The flagship location, which started operations in May 2021, was delayed in celebrating its launch due to COVID-related issues. The opening will include a storewide sale, tastings, and promotional offers, with an estimated attendance of over 250 people.

PlantX Life Inc. (OTCQB: PLTXF) has announced its application to uplist its common shares to the Toronto Stock Exchange (TSX), aiming to enhance capital market access. The decision reflects a strategic move to boost brand visibility and trading activity. However, the uplisting is subject to TSX approval, and no guarantee of completion has been provided. The company continues to operate on the Canadian Securities Exchange under the symbol 'VEGA' and further plans to expand its product lines, including cosmetics and beverages.