PlantX Announces Monthly Gross Revenue of $1,719,577 for March 2022

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Apr 19, 2022, 08:30 ET

VANCOUVER, BC, April 19, 2022 /PRNewswire/ - PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company") is pleased to announce that it generated monthly gross revenue of $1,719,577 for March 2022. Cost of Goods Sold was $1,117,725 for the same month.

PlantX Announces Monthly Gross Revenue of $1,719,577 for March 2022 (CNW Group/PlantX Life Inc.)

PlantX continues to experience record-breaking Business to Consumer month-over-month and year-over-year revenue increases, as shown by previous financial results. For the month of March 2022, the Company generated gross revenue of $1,719,577, reflecting a 28% increase from February 2022, and 168% increase, net of wholesale revenue, compared to the month of March 2021.

"The Company's ongoing financial progress has been consistent with management's efforts to invest in strategic partnerships to accelerate expansion efficiently and proactively," said PlantX Founder, Sean Dollinger. "Beyond the growth that PlantX is experiencing, the Company has been heavily investing in maximizing the quality of its current services and programs to better serve its growing customer base."

"We are extremely proud of our strong sales figures for March 2022, which clearly indicate PlantX's potential for consistent growth. As PlantX continues to focus on business to consumer efforts, we are seeing increases in our margins while establishing a loyal customer base," said PlantX CEO, Lorne Rapkin. "Our focus on investing in quality, innovation, and strategic partnerships is clearly a rewarding strategy for PlantX, and we are looking forward to reaching new financial and operational milestones in our expansion journey."

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 5,000 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/.

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; the conflict in Eastern Europe; 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.

SOURCE PlantX Life Inc.