PlantX Adds El Hongo Magico Taqueria to XMarket Vegan Food Hall and Reports Financial Results for Fiscal Q1 2024 - Seite 2

Co-developed and operated with the Macromia Group, a restaurant developer specializing in building high-end dining and retail locations from concept to creation, the 6,500 square foot XMarket Vegan Food Hall will be the largest vegan food hall in the Midwest. The space will seat 375 people and include six restaurants, a wine and beer bar, a coffee shop, and a bodega-style grocery store that includes a vegan cheesemonger. The food hall is located at 804 W. Montrose Ave. on the north side of Chicago.

Q1 2024 Financial Results
In addition to this remarkable culinary collaboration, PlantX reported its condensed interim consolidated financial results for fiscal Q1 2024 for the period ended June 30, 2023 ("Q1 2024"). During this period, the Company demonstrated consistent growth and operational efficiency, with revenue totaling $2,794,942 and a net loss of $1,722,824. The Company's strategic focus on profitability was reinforced by a 4% increase in gross profit margin compared to the same period in 2022.

Operating expenses notably decreased by $4,292,113 compared to the same period in 2022, driven by prudent cost-cutting measures and heightened operational effectiveness. Advertising, promotion, consulting, and administrative expenses were all streamlined, reflecting the Company's commitment to fostering a sustainable and thriving business.

The expansion of the XMarket Vegan Food Hall and the robust financial performance in Q1 2024 signal PlantX's dedication to elevating the plant-based lifestyle through culinary innovation and operational excellence.

Additional Information
The Company's complete condensed interim financial statements and management's discussion & analysis ("MD&A") for Q1 2024 are available on PlantX's website (www.plantx.com) and SEDAR (www.sedar.com).

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

About PlantX Life
As the digital face of the plant-based community, PlantX's platform is a one-stop shop for plant-based products. With its fast-growing category verticals, the Company offers customers across North America more than 5,000 plant-based products. In addition to offering delivery service for meals and indoor plants, the Company currently has plans underway to expand its product lines to include a juice and coffee company. The Company uses its digital platform to build a community of like-minded consumers and, most importantly, to provide education. Its successful enterprise is being built and fortified on partnerships with the top nutritionists, chefs, and brands. The Company's digital presence works to eliminate the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier, and happier life.