PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company") is pleased to announce that it has entered into an agreement to launch as a Seller on Walmart Canada Marketplace on www.walmart.ca/en/marketplace.
Walmart Canada Marketplace was launched in 2009 and integrates a curated community of respected and well-known retailers that aim to offer consumers high-quality and reputable products. The new collaboration will enable PlantX to take advantage of the extensive Walmart Canada Marketplace digital marketing services and customer base. PlantX on Walmart Canada Marketplace will initially sell grocery and pantry items from various brands such as Simply Organic, Made in Nature, Cadia and Nutiva, with potential opportunities to diversify its offerings on this platform in the future.
"Being invited and approved to join Walmart Canada Marketplace is an amazing feat that further demonstrates the scalability of the platform and demand for the products of PlantX" said Sean Dollinger, PlantX Founder. "This collaboration redefines PlantX's potential as a plant-based leader and illustrates how our results-driven expansion efforts continue to broaden our horizons."
The grocery and food retail industry in Canada is experiencing dynamic changes with the rise of e-commerce in recent years, as well as the pandemic-driven surge in online grocery shopping, which spearheaded a spike of 177% in Canadian online sales. Overall retail sales of food and beverages amounted to almost $130 billion in 2019 in Canada, and the market value of the Canadian food retail industry is projected to reach $154.3 billions by 2021. Market research also suggests that almost 37% of all Canadians are now shopping online for groceries, marking a 57% increase in overall digitization of grocery sales. Walmart was named the most popular store in Canada for purchasing food and beverages in 2019, with approximately half of Canadians claiming that they are regular Walmart customers. Notably, Walmart Canada's e-commerce sales increased by a staggering 229% during the pandemic, marking unprecedented growth for the retail giant. PlantX's new partnership with Walmart Canada will allow the Company to maximize its e-commerce impact by capitalizing on the general upwards trends in e-commerce sales combined with Walmart's ongoing online growth.
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.
About Walmart Canada
Walmart Canada operates a growing chain of 410 stores nationwide serving more than 1.2 million customers each day. Walmart Canada's flagship online store, www.walmart.ca, is visited by 600,000 customers daily. With more than 90,000 associates, Walmart Canada is one of Canada's largest employers and is ranked one of the country's top 10 most influential brands. Walmart Canada's extensive philanthropy program is focused on supporting Canadian families in need, and since 1994 Walmart has raised and donated more than $275 million to Canadian charities. Additional information can be found at walmartcanada.ca, facebook.com/walmartcanada and at twitter.com/walmartcanada.
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 current and future product offerings of PlantX on Walmart Marketplace and 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.
The Company website is http://investor.PlantX.com/.
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