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PlantX joins estimated USD $12.1 billion North American baby formula and toddler formula industry(1)
VANCOUVER, British Columbia , Jan. 05, 2021 (GLOBE NEWSWIRE) -- via InvestorWire — PlantX Life Inc. (the “Company” or “PlantX”) (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce that the Company’s U.S. ecommerce platform www.PlantX.com will begin featuring baby formula products from Else Nutrition Holdings Inc. (“Else Nutrition”) (TSXV: BABY) (OTCQX: BABYF) (FSE: 0YL).
The addition of plant-based baby formula allows PlantX to further expand its category verticals. Else Nutrition’s baby formula will be the first product available to order in the new baby products section of the Company’s U.S. ecommerce platform, https://plantx.com/brand/else-nutrition/.
“We are thrilled to be listed on the PlantX platform. Joining this innovative online platform solely dedicated to plant-based companies aligns perfectly with our mission to bring clean label and sustainable plant-based options for parents to nourish their infants,” said Hamutal Yitzhak, CEO and co-founder of Else Nutrition. “We are proud to be part of a platform of like-minded, purpose-driven brands and raising awareness for plant-based nutrition and its benefits to a growing segment of consumers. This will help bolster Else Nutrition’s presence in both North America and Europe.”
The North America baby food and infant formula market continues to grow as new products are introduced, such as those announced by Else Nutrition and PlantX. According to IMARC Group, the market is expected to reach a value of US$16.6 billion by 2025 at a compound annual growth rate of 5.5% over the next five years.
Else Nutrition was founded to better serve children with allergies, intolerances and dietary restrictions as well as families who seek plant-based clean nutrition for their babies and toddlers. The plant-based baby formula contains natural and organic ingredients to create a sustainable upbringing for children that is free from dairy, GMOs, corn syrup and gluten. Intended for babies 12 months and older, the formula is made with primarily almonds, buckwheat and tapioca in addition to 20 vitamins and minerals to support growth and development at an early age.
“Launching the new baby products section of PlantX.com with Else Nutrition is very exciting for us,” said Julia Frank, PlantX CEO. “We’ve seen the success of the baby formula market, and having it in our plant-based umbrella only adds to the potential in this space.”
PlantX continues to advance its plans to open its first brick and mortar locations in San Diego, California, Squamish, British Columbia and Tel Aviv, Israel, with plans of future franchising and expansion across the globe. PlantX will also continue to expand its e-commerce capabilities around the world with new and exciting partnerships, acquisitions and verticals in the plant-based industry. As a partner of PlantX, Else Nutrition will be able to expand its distribution through the Company’s online distribution and future physical locations.
PlantX will be streaming its weekly live vodcast with PlantX founder Sean Dollinger interviewing Else Nutrition CEO, Hamutal Yitzhak. Ms Yitzhak will discuss the Else Nutrition partnership and the importance of plant-based nutrition. Watch the stream Saturday, Jan. 9, at 10:30 a.m. PST / 1:30 p.m. EST from the Company’s YouTube channel available at https://youtu.be/penSyIP2j14.
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 like-minded 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 Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at the Global Food Innovation Summit in Milan. Else Toddler Nutrition was a #1 Best Seller on Amazon in the Baby/Toddler Formula Category in 2020. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Else's Executives includes leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children's Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children's Medical Center of Israel, Children's Hospital of Colorado, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium.
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The Company website is http://investor.PlantX.com/.
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 Company’s ability to establish further verticals and partnerships, the benefits of Else Nutrition products, the trends and dietary habits of consumers, the efficacy of certain vitamins and minerals, the expected market size and growth of the baby food and formula market, the expansion of the Company’s e-commerce capabilities, the opening of the Company’s new brick and mortar locations in San Diego, CA, Squamish, B.C. and Tel Aviv, Israel and the business and strategic plans of the Company.
By their 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.