PlantX closes oversubscribed prospectus offering of units

On March 22, 2021, PlantX Life Inc. ("PlantX") (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) announced that it had completed its oversubscribed public offering of units of the company for gross proceeds of $20,057,903.25, including a partial exercise of the over-allotment option granted to the agents led by Mackie Research Capital Corporation.

PlantX intends to use the net proceeds from the offering to fund expansion, to continue to develop a user app, to evaluate and pursue potential strategic acquisitions, and for working capital and general corporate purposes.

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, PlantX offers customers across North America more than 10,000 plant-based products.

Gowling WLG advised PlantX with respect to this offering with a team that included Peter Simeon, Tara Amiri, Josh Almario, Raymond Ong and Adam Sherman.