PlantX Announces Monthly Gross Revenues of $1,565,982 for March 2021 and $1,353,613 for February 2021

Rhea-AI Summary

PlantX Life Inc. (OTCQB: PLTXF) reported record monthly gross revenue of $1,565,982 for March 2021, a 15.6% increase from February’s $1,353,613. Cost of Goods Sold were $1,152,276 in March and $994,260 in February. This marks a 43.7% increase from January 2021, indicating positive momentum in revenue growth. CEO Julia Frank highlighted the company’s strategic focus on expanding its market presence and product offerings, including plans for cosmetics and clothing. The financial data, though not audited, reflects a strong growth trajectory for PlantX.

Positive

• Record revenue of $1,565,982 for March 2021, reflecting a 15.6% month-over-month increase.
• 43.7% revenue increase compared to January 2021.
• Strong month-over-month revenue growth reflecting effective business strategy.

Negative

• None.

VANCOUVER, BC, April 12, 2021 /PRNewswire/ - PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company") is pleased to announce that it achieved record monthly gross revenue of $1,565,982 for March 2021 and a revenue of $1,353,613 for February 2021. Cost of Goods Sold were $1,152,276 and $994,260 for March and February, respectively.

PlantX continues to experience month-over-month revenue increases, as shown by the financial results in recent months. For the month of March 2021, the Company achieved a new record gross revenue of $1,565,982, reflecting a 15.6% increase from February 2021 and a 43.7% increase from January 2021. These accomplishments are a reflection of the Company's dynamic expansion and its unwavering commitment to delivering the best quality products and services to its loyal customer base. The monthly revenue increase also builds confidence in PlantX's capabilities to continue on a growth trajectory for the rest of 2021.

"The Company's progress is a manifestation of its results-driven strategy to capitalize on high-growth verticals, create strategic partnerships and expand globally," said PlantX CEO, Julia Frank. "PlantX continues to add value as a leader in the plant-based industry."

"The recent revenue growth is a strong indicator that we are consistently building great momentum in our quest to thrive as a business," said PlantX Founder, Sean Dollinger. "Our financial progress continues to accelerate month after month, and we have no intention of slowing down."

The financial results disclosed in this press release are management prepared 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-based community, PlantX's platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of likeminded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.

The Company website is http://investor.PlantX.com/. 

To visit the Company's YouTube channel, click here.

You can tune in to PlantX's live vodcast tonight at 8PM EST to watch a discussion between the PlantX Founder and the and PlantX CFO. To view the show, click here.

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely," "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, the business and strategic plans of the Company.

By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate; that assumptions may not be correct; and that 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 in this press release including, without limitation: the Company's ability to comply with all applicable governmental regulations, including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history; the ability of the Company to access capital to meet future financing needs; the Company's reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.

Additional risk factors can also be found in the Company's continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on 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 on 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 difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE PlantX Life Inc.

FAQ

What were PlantX Life's revenues for March 2021?

PlantX Life reported record revenues of $1,565,982 for March 2021.

How much did PlantX Life earn in February 2021?

The company earned $1,353,613 in February 2021.

What was the Cost of Goods Sold for PlantX Life in March 2021?

The Cost of Goods Sold for March 2021 was $1,152,276.

What is the stock symbol for PlantX Life?

The stock symbol for PlantX Life is PLTXF.

How did PlantX Life's revenue change from January to March 2021?

Revenue increased by 43.7% from January 2021 to March 2021.