PlantX Enters Into Share Exchange Agreement to Secure Additional Funding and Further Grow Its U.S. Operations
PlantX Enters Into Share Exchange Agreement to Secure Additional Funding and Further Grow Its U.S. Operations
Engages Financial Advisor
聘請財務顧問
Announces Close of First Tranche of Financing for $1 Million
宣佈完成第一筆100萬美元的融資
Not for Distribution to U.S. Newswire Services or For Dissemination in the United States
不用於分發給美國新聞通訊社服務或在美國傳播
VANCOUVER, BC / ACCESSWIRE / March 16, 2023 / PlantX Life Inc. (CSE:VEGA)(Frankfurt:WNT1)(OTCQB:PLTXF) ("PlantX" or the "Company"), the digital face of the plant-based community, operating a one-stop shop for plant-based products, today announced that it has entered into a share exchange agreement with a recently-formed company ("NewCo"), pursuant to which NewCo will acquire certain assets of PlantX (the "Transaction"). The Transaction and NewCo Financing (as defined herein) positions NewCo to become a significant player in the plant-based lifestyle market.
不列顛哥倫比亞省溫哥華/ACCESSWIRE/2023 年 3 月 16 日/ 運營植物基產品一站式商店的植物性社區的數字面孔 PlantX Life Inc.(CSE: VEGA)(法蘭克福:WNT1)(OTCQB: PLTXF)(“PlantX” 或 “公司”)今天宣佈,它已與一家最近成立的公司(“NewCo”)簽訂了股票交換協議,根據該協議,NewCo將收購Plan的某些資產 Tx(“交易”)。該交易和NewCo融資(定義見此處)使NewCo成爲植物性生活方式市場的重要參與者。
In exchange for 6.0 million common shares of NewCo, a recently formed Cayman Islands corporation, PlantX has agreed to exchange a collection of PlantX assets including wholly owned subsidiaries Vegaste Technologies US Corp., Little West LLC, Plant Based Deli LLC, and PlantX Living Inc., and the Company's 53% interest in Portfolio Coffee, Inc. and 51% interest Eh Coffee Corp. The Transaction does not include the Company's wholly owned subsidiaries Boombox Club Ltd., PlantX Midwest Inc., PlantX Israel and Score Enterprises Ltd., which operates the Squamish, British Columbia based Locavore Bar & Grill, and other related businesses including the Cloudburst Cafe and Locavore Food Truck. Immediately following the completion of the Transaction, it is expected that PlantX will own approximately 60% of the issued and outstanding shares of NewCo, subject to adjustment based on the NewCo Financing.
爲了換取最近成立的開曼羣島公司NewCo的600萬股普通股,PlantX已同意交換一系列PlantX資產,包括全資子公司Vegaste Technologies US Corp.、Little West LLC、Plant Based Deli LLC和PlantX Living Inc.,以及該公司在Portfolio Coffee, Inc.的53%權益和51%的權益 Eh Coffee The Corp. 交易不包括該公司的全資子公司Boombox Club Ltd。、PlantX Midwest Inc.、PlantX Israel 和運營英國 Squamish 的 Score Enterprises Ltd.總部位於哥倫比亞的Locavore Bar & Grill以及其他相關企業,包括Cloudburst Cafe和Locavore食品卡車。交易完成後,預計PlantX將立即擁有NewCo約60%的已發行和流通股份,但須根據NewCo融資進行調整。
Completion of the Transaction is subject to customary closing conditions, including that NewCo will complete an offering and sale of equity securities of NewCo at a deemed valuation of US$10 million for minimum gross proceeds of US$1,500,000 (the "NewCo Financing"). The initial tranche of US$1,000,000 has closed. The Transaction, which has been unanimously approved by the PlantX board of directors, is expected to close in or about the first quarter of 2023.
交易的完成受慣例成交條件的約束,包括NewCo將完成NewCo股權證券的發行和出售,其認定估值爲1,000萬美元,總收益爲150萬美元(“NewCo融資”)。第一批100萬美元已經完成。該交易已獲得PlantX董事會的一致批准,預計將在2023年第一季度左右完成。
PlantX also announced today that NewCo has engaged a U.S.-based SEC registered broker-dealer and FINRA and SIPC member as its exclusive Financial Advisor to assist with corporate structuring, the identification of strategic partners, and assistance with capital raising transactions.
PlantX 今天還宣佈 NewCo 已聘請一家總部位於美國證券交易委員會的註冊經紀交易商以及FINRA和SIPC成員作爲其獨家財務顧問,以協助公司架構、確定戰略合作伙伴和協助籌資交易。
"The exchange of PlantX's unique plant-based stores and brands to NewCo is the right step to capitalize on the significant growth opportunities in the emerging plant-based market and to unlock significant unrealized value for PlantX's shareholders," said PlantX CEO, Lorne Rapkin. "PlantX shareholders will retain roughly 60% of an entity that is better capitalized, better positioned for growth and near-term profitability and more highly valued."
PlantX首席執行官洛恩·拉普金表示:“將PlantX獨特的植物性商店和品牌交易給NewCo是利用新興植物性市場的重大增長機會併爲PlantX的股東釋放未實現的巨大價值的正確步驟。”“PlantX的股東將保留一個資本充足、更有能力實現增長和短期盈利能力且估值更高的實體約60%的股份。”
"NewCo has the potential to be a truly great platform for all-things plant-based," added PlantX founder Sean Dollinger. "Over the last couple of years PlantX has been fine tuning a collection of assets to serve the needs of the plant-based community and has already established the foundational pillars. With this transaction, we will be better positioned to invest in organic and inorganic growth opportunities. This includes pursuing aggressive M&A to build something incredible in the U.S."
PlantX創始人肖恩·多林格補充說:“NewCo有可能成爲所有植物性產品的真正好平臺。”“在過去的幾年中,PlantX一直在微調一系列資產,以滿足植物社區的需求,並且已經建立了基礎支柱。通過這筆交易,我們將更有能力投資有機和無機增長機會。這包括進行積極的併購,在美國建造一些不可思議的東西。”
As part of the formation of NewCo, Mr. Dollinger will become its Chief Executive Officer, and was issued 1.0 million common shares of NewCo as partial compensation for services to be provided (the "Dollinger Shares"). These Dollinger Shares are subject to forfeiture if Mr. Dollinger's employment relationship with NewCo is terminated prior to the vesting of date the Dollinger Shares. The Dollinger Shares vest monthly over a period of a year, commencing in [February 2023]. Mr. Dollinger has also entered into a voting rights agreement with PlantX providing PlantX the right to vote the Dollinger Shares for as long as Mr. Dollinger holds the shares.
作爲NewCo成立的一部分,Dollinger先生將出任其首席執行官,併發行了100萬股NewCo普通股,作爲對所提供服務的部分補償(“Dollinger股票”)。如果Dollinger先生與NewCo的僱傭關係在Dollinger股份歸屬日期之前終止,則這些Dollinger股份將被沒收。從 [2023 年 2 月] 開始,Dollinger 股票在一年內按月歸屬。多林格先生還與PlantX簽訂了投票權協議,規定只要多林格持有多林格股票,PlantX就有權對多林格股票進行投票。
About PlantX Life Inc.
關於 PlantX Life Inc.
As the digital face of the plant-based community, PlantX's e-commerce platform is a one-stop shop for plant-based products. With its fast-growing category verticals, PlantX offers customers more than 5,000 plant-based products across North America. PlantX also operates its own brand portfolio, including Little West Juices, Portfolio Coffee, Bloombox Club, and XMarket. PlantX uses its digital platform to build a community of like-minded consumers and, most importantly, to provide education and accessibility to the plant-based lifestyle. PlantX's digital presence eliminates entry barriers for anyone interested in living a vegan lifestyle and thriving in a longer, healthier, and happier life.
作爲植物性社區的數字面孔,PlantX 的電子商務平臺是植物性產品的一站式商店。憑藉其快速增長的垂直品類,PlantX 在北美爲客戶提供了 5,000 多種植物基產品。PlantX還經營自己的品牌組合,包括小西部果汁、Portfolio Coffee、Bloombox Club和xMarket。PlantX 利用其數字平臺建立了一個由志同道合的消費者組成的社區,最重要的是,爲植物性生活方式提供教育和可及性。PlantX 的數字化存在爲任何有興趣過純素生活方式並在更長、更健康、更幸福的生活中茁壯成長的人消除了進入壁壘。
Connect with PlantX: Email | Website | Facebook | LinkedIn|Twitter |Instagram | YouTube | TikTok
連接 PlantX:電子郵件 | 網站 | Facebook |LinkedIn|Twitter | Instagram | YouT
For additional information, please contact:
欲瞭解更多信息,請聯繫:
Lorne Rapkin
Chief Executive Officer
(416) 419-1415
洛恩·拉普金
首席執行官
(416) 419-1415
About NewCo
關於 NewCo
NewCo is a Cayman Islands holding company focused on expanding access to plant-based food products by developing a global portfolio of businesses that offer high-quality plant-based products and bridging the gap between two multi-billion-dollar industries: e-commerce and plant-based foods. Through traditional retail and state-of-the-art websites, the NewCo platform intends to give plant-based products and brands a chance to test new markets by providing direct access to its dedicated vegan customer base. Moreover, the NewCo platform is also a marketing tool with a mission to help vegan and plant-based companies create awareness through social media, brand ambassadors, digital content, search engines, and email campaigns that attract visitors and facilitate purchases online.
NewCo是一家開曼羣島控股公司,致力於通過發展提供高質量植物性產品的全球業務組合來擴大植物性食品的獲取渠道,並彌合兩個價值數十億美元的行業(電子商務和植物性食品)之間的差距。通過傳統的零售和最先進的網站,NewCo平臺旨在通過直接訪問其專門的素食客戶羣,爲植物性產品和品牌提供測試新市場的機會。此外,NewCo平臺也是一種營銷工具,其使命是通過社交媒體,品牌大使,數字內容,搜索引擎和電子郵件活動來幫助素食和植物性公司提高知名度,以吸引訪客並促進在線購買。
Forward-looking Information
前瞻性信息
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, statements regarding the Transaction, the NewCo Financing and the business and strategic plans of the Company.
本新聞稿包含適用證券法所指的 “前瞻性信息”。此處包含的所有不具有明確歷史性質的陳述均可能構成前瞻性信息。在某些情況下,前瞻性信息可以通過單詞或短語來識別,例如 “可能”、“將”、“期望”、“應該”、“計劃”、“預期”、“打算”、“潛在”、“提議”、“估計”、“相信” 或否定這些術語或其他類似的詞語、表達方式和語法變體,或者某些事件或條件 “可能會” 的陳述” 或 “將” 發生,或者通過討論戰略來實現。此處包含的前瞻性信息包括但不限於有關交易、NewCo融資以及公司業務和戰略計劃的陳述。
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: receiving sufficient demand for the Offering; the Company's ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; the Company's ability to complete the Transaction; the ability of NewCo to complete the NewCo Financing; impacts to the business and operations of the Company due to the COVID-19 epidemic; the conflict in eastern Europe; having 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.
就其性質而言,前瞻性信息受固有的風險和不確定性的影響,這些風險和不確定性可能是籠統的或具體的,這可能導致預期、預測、預測、預測或結論不準確,假設可能不正確,目標、戰略目標和優先事項無法實現。各種因素,包括已知和未知的風險,其中許多是我們無法控制的,可能導致實際業績與本新聞稿中的前瞻性信息存在重大差異,包括但不限於:收到足夠的發行需求;公司遵守所有適用的政府法規,包括所有適用的食品安全法律法規;公司完成交易的能力;NewCo完成NewCo融資的能力;對公司業務和運營的影響那個由於 COVID-19 疫情導致的公司;東歐的衝突;運營歷史有限;公司獲得資金以滿足未來融資需求的能力;公司對管理層和關鍵人員的依賴;競爭;消費者趨勢的變化;外匯波動;以及總體經濟、市場或商業狀況。
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 . 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.
其他風險因素也可以在公司的持續披露文件中找到,這些文件已在SEDAR上提交,可在以下網址查閱。提醒讀者仔細考慮這些因素和其他因素、不確定性和潛在事件,不要過分依賴前瞻性信息。此處包含的前瞻性信息截至本新聞稿發佈之日作出,基於管理層在發佈此類前瞻性信息之日的信念、估計、預期和觀點。除非適用法律要求,否則公司沒有義務更新或修改任何前瞻性信息,無論是由於新的信息、估計或觀點、未來事件或結果還是其他原因,也沒有義務解釋後續實際事件與此類前瞻性信息之間的任何實質性差異。
SOURCE: PlantX Life Inc.
來源: PlantX Life 公司
譯文內容由第三人軟體翻譯。