PlantX Completes Acquisition of Bloombox Club UK

• Bloombox is a leading UK-based e-commerce platform that sells and delivers indoor plants to their established wellness community via subscription service and online shop
• Bloombox is currently on a C$3.9 million (£2.3 million) annual run rate (ARR) 
  • GROSS REVENUE - on target to achieve approximately C$4.5 million ((£2.3 million)  
  • GROSS MARGIN - on target to achieve approximately C$2.3 million ((£1.4 million) in gross margin for its current financial year
• In the last few years, Bloombox Club UK has delivered over 55,000 plants to over 24,000 customers across the UK and achieved a high 4.4 star rating on Trustpilot

PlantX - The Digital Face of The Plant -Based Community

• Aiming to be the most trusted online destination for the plant-based community and those interested in living a plant-based lifestyle
  • Plant Based Meal Delivery
  • Plant Based Products
  • Plant Based .... PLANTS (It's A BIG Business!)
  • Plant Based Restaurant Locator
• 20,000 items including snacks, drinks and even chocolate
• 20 unique 100% plant based meals for home delivery

US Digital Operations Kick Off With $USD 25,000,000 Commitment 

Wasting no time in duplicating its Canadian operations in the United States, On September 14, 2020 PlantX announced a partnership with Liv Marketpace to serve as their exclusive online fulfilment and distribution partner.

The terms & benefits of the agreement are as follows:

• $USD 25,000,000 minimum purchase of PlantX products in the first year
• 6% royalty fee to PlantX on the gross revenues in the USA

This model means PlantX does not have to incur any US labor costs or carrying costs for inventory in the USA, as Liv Marketplace will be utilizing its own facilities and staff.

But There Is More - Bricks & Mortar Strategy Kicks Off With US Flagship In San Diego 

Though PlantX is a digital first company, it also understands the importance of providing customers with physical locations to enjoy their products and experiences.

The partnership with Liv Marketpace mentioned above also incorporates a specific plan to establish and operate:

• Retail Stores
• Coffee Shops
• Cafes
• All In The United States, Under The PlantX Name

The first store location is scheduled to open on December 1, 2020 in San Diego with the following features:

• 4,500 sq ft store serving as the Company's showcase store
• 5,000 + plant-based products available for purchase
• Mobile app allows customers to shop and check out products
• Plant-based education center
• Plant-based meals by LA Chef Gregg Drusinsky, whom Anthoney Bourdain agonized over not getting on his team

Most importantly for investors, the store will serve as a training centre for future potential franchises.

SEEING IS BELIEVING > WATCH