PlantX Completes Acquisition of Veganessentials.com Online Domain

VANCOUVER, BC, October 17, 2022 /CNW/ – PlantX Life Inc. (CST: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) (“PlantX“or the”Company“), the digital face of the herbal community, operating a one-stop-shop for herbal products, is pleased to announce that it has completed its previously announced acquisition of the online domain. www.veganessentials.comand certain intellectual properties and associated assets of Veji Holdings Ltd (“Veji“). and its wholly owned subsidiary, Veg Essentials LLC, for an aggregate purchase price of CA$893,000 (there “Acquisition“). The purchase price was satisfied by (i) cash in the amount of $143 CAD000 and (ii) the issuance of 1,071,428 common shares (the “Counterpart shares“) at a deemed issue price of CA$0.70 per share.

PlantX completes acquisition of online domain veganessentials.com (CNW Group/PlantX Life Inc.)

In connection with the acquisition, the Company paid a finder’s fee of 102,857 common shares at a deemed issue price of $0.70 (there “Finder’s Fee Actions“) to an independent researcher for his help in introducing the Veji to society.

The Consideration Shares and Finder’s Fee Shares are subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

About PlantX Life Inc.

As the digital face of the plant community, the PlantX platform is a one-stop-shop for plant-based products. With its fast-growing vertical categories, the company offers its customers across North America over 5,000 plant-based products. In addition to offering a meal and indoor plant delivery service, the Company is currently considering expanding its product lines to include a juice and coffee business. The company uses its digital platform to create a community of like-minded consumers and, most importantly, to provide education. His successful business is built and strengthened on partnerships with top nutritionists, chefs and brands. The Company’s digital presence aims to remove barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.

Connect with PlantX: E-mail | Website | Facebook | LinkedIn | Twitter | instagram | Youtube | ICT Tac

Forward-looking information

This press release contains forward-looking information” within the meaning of applicable securities laws. Any statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some instances, forward-looking information may be identified by words or phrases such as “may”, “should”, “expect”, “probably”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, ” proposed”, “believes”, “believes” or the negative form of these terms, or other similar words, phrases and grammatical variants, or statements that certain events or conditions “may” or “will” occur, or by strategy discussions, the Company’s business and strategic plans.

Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information is subject to inherent risks and uncertainties, which could cause actual results and developments to differ materially from those contemplated in this press release. The forward-looking information contained in this press release speaks as of the date hereof. 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 differences between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE PlantX Life Inc.

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