- PlantX just entered into an asset purchase agreement with Peter Rubi, LLC, to acquire its assets and assume specific liabilities
- This acquisition marks a significant milestone for PlantX and adds to the list of purchases for 2021, which so far includes Bloombox Club, New Deli, Little West, and Locavore
- The move is designed to strengthen PlantX’s e-commerce strategy and expand its market reach in the Midwestern US
- The two Peter Rubi brick-and-mortar stores will be relaunched under the XMarket brand
PlantX Life (CSE: VEGA) (OTCQB: PLTXF) (Frankfurt: WNT1) just announced having entered into an asset purchase agreement with Peter Rubi, LLC through PlantX Midwest Inc., a wholly-owned subsidiary. Following the arrangement, PlantX has acquired all of Peter Rubi’s assets and assumed specific liabilities, in exchange for $1.2 million in cash, along with 9,188,897 common shares in an authorized share structure of PlantX, valued at $0.2774 per share (https://ibn.fm/k8zzw).
Peter Rubi is a critical player in the plant-based market, specifically in the Chicagoland area. The company has a robust e-commerce platform and two brick-and-mortar stores located in Plainfield and…
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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