JIVA TECHNOLOGIES INC - PLTXF STOCK NEWS

PlantX Life announces a normal course issuer bid (NCIB) to buy back up to 6,071,757 common shares, roughly 5% of its outstanding shares. This buyback, starting September 15, 2021, reflects the Company's belief that its shares are undervalued. The shares will be acquired at market price for cancellation, enhancing shareholder value. Executive Chairman Fred Leigh also plans to purchase 5% of shares in the open market.

PlantX Life Inc. (OTCQB: PLTXF) announces the appointment of Fred Leigh as Executive Chairman of the Board, effective immediately. Mr. Leigh brings over 40 years of capital markets experience and has played key roles in establishing public companies. His appointment follows the dissolution of the previous Advisory Board, aimed at consolidating leadership and achieving cost savings. This strategic move aims to enhance the Company's governance and direction, especially in plant-based products, which include over 10,000 offerings across North America.

PlantX Life Inc. (OTCQB: PLTXF) has launched a redesigned Canadian website hosted on Shopify, enhancing its user experience with modern design and improved functionality. The platform aims to strengthen community engagement and increase customer satisfaction. CEO Lorne Rapkin highlighted that this investment will improve business effectiveness by focusing on plant-based products. The company plans to launch a U.S. version later this year, reinforcing its commitment to expanding its reach in the plant-based market.

PlantX Life Inc. (OTCQB: PLTXF) announced a broadcast titled “Investing in the Movement: Plant-Based Food Is the New Black,” highlighting the projected fivefold growth of the plant-based food market by 2030. With sales of plant-based dairy and meat alternatives reaching $29.4 billion in 2020, this figure could surge to $162 billion, representing 7.7% of the global protein market. PlantX, an early mover in the e-commerce sector for plant-based products, offers over 10,000 products and plans to expand into cosmetics and clothing. The company promotes a healthy plant-based lifestyle through education and community building.

PlantX Life Inc. (OTCQB: PLTXF) has been featured in an editorial by NetworkNewsWire, highlighting trends in plant-based foods and food delivery. The company, which offers over 10,000 plant-based products, aims to be a community-driven digital platform supporting healthier lifestyles. The piece discusses how the pandemic influenced consumer behavior towards plant-based diets and delivery services. PlantX is expanding its product lines to include cosmetics, clothing, and its own water brand, further solidifying its mission as the digital face of the plant-based community.

PlantX Life Inc. has appointed Lorne Rapkin as its new CEO, effective immediately, succeeding Julia Frank, who becomes COO. Rapkin, previously CFO, aims to support the company's strategic growth in the plant-based sector. The management transition aims to integrate shareholder feedback into PlantX's direction. Additionally, the company announced plans for a new store opening in San Diego and the rebranding of its Squamish location. A U.S. meal delivery program and partnerships with Walmart Canada and Hudson's Bay Marketplace were also highlighted.

PlantX Life Inc. (OTCQB: PLTXF) has partnered with Chicago Bears quarterback Justin Fields as a PlantX Ambassador. Fields, an advocate for plant-based diets, aims to promote the company's offerings and educate on the benefits of plant-based living. He will curate a selection of his favorite products on the PlantX platform and will appear in interviews to boost brand visibility among athletes. The partnership includes sponsorship of 'Pros Week' and a joint donation of $20,000 to the Fair Catch Foundation, supporting charity initiatives.

PlantX Life Inc. reported its fiscal year results ended March 31, 2021, with gross revenues of $6,586,392, a notable increase from $1,349 in the previous fiscal year. The cost of goods sold was $5,194,391, resulting in a gross margin of 21%. However, the company faced a net loss of $26,512,887 due to share-based compensation, which accounted for $12,339,694. Working capital stood at $22,140,276, including cash of $20,364,895. The fourth quarter saw gross revenue rise by 134% to $4,294,016.

PlantX Life Inc. has launched its meal delivery service, XFood, in the United States. This program offers a three-day meal plan featuring six plant-based meals and six cold-pressed juices created by renowned vegan Chef Matthew Kenney. Initially available in Southern California, XFood aims for nationwide delivery. Meals are prepared in a ghost kitchen in Los Angeles and delivered using temperature-regulating packaging. Orders for delivery starting August 9 are now open, with plans to evolve the menu monthly based on consumer preferences.