PlantX Life (CSE: VEGA) (OTCQB: PLTXF) (Frankfurt: WNT1), the digital face of the plant-based community operating a one-stop shop for plant-based products, today announced its audited consolidated financial results for fiscal 2024, the 12 months ended March 31, 2024. Key highlights included an 8% year-over-year increase in gross margins and revenues of CA$7,302,666. In addition, the company reported a significant reduction in net loss to CA$5,014,710 in 2024 from CA$21,384,656 in 2023, reflecting its successful cost-reduction and efficiency strategies. “Fiscal 2024 saw significant updates in partnerships and operational shifts aimed at reducing costs and divesting assets that were consuming too much cash. Opening the largest vegan food hall in the USA was a remarkable achievement, and engaging in a share purchase agreement with VEG House to offload some high cash-burning assets has helped position PlantX for a brighter future,” said Lorne Rapkin, PlantX CEO.
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About PlantX Life Inc.
PlantX Life focuses on fostering niche online wellness communities as well as creating physical immersive environments. Bloombox Club, an online plant delivery marketplace operating across the U.K. and E.U., and The Locavore Bar and Grill, a unique dining experience that started as a humble food truck and coffee shop in the heart of Squamish, B.C., are key verticals of PlantX. The company recently completed a share exchange agreement and is now a 60% owner in VEG House, a company whose portfolio of assets is leading the way in the plant-based space. PlantX works to build a community of like-minded consumers and provide education on plant-based living. Its enterprise is built on partnerships and collaboration. The company’s digital presence aims to eliminate barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information about the company, please visit www.PlantX.com and www.PlantX.ca.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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