PlantX Reports Monthly Gross Revenue of $1,051,471 for August 2023

VANCOUVER, BC / ACCESSWIRE / September 11, 2023 / PlantX Life Inc. (CSE:VEGA)(Frankfurt:WNT1)(OTC PINK:PLTXF) ("PlantX" or the "Company"), the digital face of the plant-based community, operating a one-stop shop for plant-based products, today announced unaudited monthly financial metrics for August 2023. Revenue increased sequentially to $1,051,471.00 with continued growth from Little West, Bloombox Club, Portfolio Coffee, Locavore Bar & Grill, and Vegan Essentials.

This represents a remarkable 7% increase compared to July 2023, when the company reported a gross revenue of $982,844. This significant surge in revenue highlights PlantX's ongoing commitment to providing top-quality plant-based products and services to its customers.

One of the standout successes contributing to this remarkable achievement is PlantX's major vertical, Little West. Little West reported one of its most profitable months ever, with revenue soaring to an impressive $325,000 for August. This achievement underscores PlantX's ability to cultivate profitable partnerships and expand its presence in the plant-based market.

Furthermore, PlantX's flagship platform, PlantX.com, also made a substantial contribution to the impressive monthly revenue. PlantX.com recorded a noteworthy revenue of $104,397 in August 2023, showcasing the platform's growing popularity among consumers seeking plant-based solutions. In addition to the impressive revenue growth, PlantX demonstrated strong financial performance in terms of gross margin. The company's gross margin increased by 5% to $494,467 for the month of August 2023, compared to $470,613 in July 2023. This reflects PlantX's commitment to maintaining a robust financial position while delivering exceptional value to its customers.

"We are thrilled to report such a remarkable month of growth and achievement for PlantX," said Lorne Rapkin, CEO of PlantX. "Our continued dedication to providing top-quality plant-based products and expanding our market presence has led to this outstanding revenue milestone. We are excited about the future and remain committed to offering innovative and sustainable plant-based solutions to our customers."

The financial metrics 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 a one-stop shop for plant-based products. With its fast-growing category verticals, PlantX offers customers across North America more than 5,000 plant-based products. PlantX also has other brands in the PlantX portfolio including a juice brand, a coffee company, a plant shop, and brick-and-mortar grocery stores. PlantX uses its digital platform to build a community of like-minded consumers and, most importantly, to provide education. PlantX's digital presence eliminates entry barriers for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier, and happier life.