Vancouver, BC, November 5th, 2021 /CNW // — Vejii Holdings, Inc. (“Vejii” or the “Company”) a North American online vegan marketplace, is pleased to announce the satisfaction of the escrow release conditions attached to its previously announced financing of special warrants (the “Special Warrants“) and subscription receipts (the “Subscription Receipts“) and the commencement of the trading of its common shares (the “Common Shares“) on the Canadian Securities Exchange (the “CSE“) under the symbol “VEJI” effective at market open on November 9, 2021. The CUSIP and ISIN attached to the Common Shares are 92262H102 and CA92262H1029, respectively.
The Company also announces that it has closed its acquisition of Veg Essentials LLC (“Vegan Essentials or “VeganEssentials.com”) effective October 28, 2021. The acquisition provides Vejii with access to a second strategically located warehouse in the US, as well as over 20 years of consumer insight, data, and buying power. The companies have a combined subscriber list of over 130,000 across North America and Europe. The Company plans to consolidate its logistics, marketing and buying with Vegan Essentials to increase efficiencies and margins between the two companies.
As a staple of the plant-based community, Vegan Essentials was established in 1997. Vegan Essentials has been awarded best online vegan store by VegNews from 2005-2018, as well as best online vegan grocer from 2018-2021 by VegNews.
“The acquisition of Vegan Essentials and commencement of trading on the CSE are two incredible milestones for our Company. I am incredibly proud of our team and their commitment to creating what is poised to be a leading North American plant-based and sustainable-living marketplace,” said Kory Zelikson, CEO of Vejii. “Our database of consumer buying insights now goes back to 1997 and this will allow us to look at strategic acquisitions, new brands, and growth within new markets. The access to additional capital from the financing will also allow the Company to focus on future growth.”
Effective November 1, 2021, the Subscription Receipts and Special Warrants have been converted into an aggregate of 12,210,857 Common Shares and 6,105,429 common share purchase warrants (the “Warrants“), with each Warrant being exercisable for one additional Common Share at a price of $0.50 until November 1, 2023. It was a condition to such conversion that the Company complete its acquisition of Vegan Essentials.
About Vejii Holdings Inc.
The Company is headquartered in Kelowna B.C. and is operating its online marketplace ShopVejii.com in both Canada and the US, along with online vegan grocer VeganEssentials.com. Vejii Holdings Ltd. is focused on providing its customers with easy access to thousands of plant-based and sustainable living products in one place. Vejii leverages its logistics infrastructure, distribution networks technology integrations like smart lists, reorders features, subscription programs, AI, to support its vendors and improve our overall customer experience.
Information on the Company and its many products can be accessed through the
ON BEHALF OF THE BOARD OF DIRECTORS:
Director and CEO
For investor inquiries or further information, please contact: IR@shopvejii.com
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CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements in this press release relate to the Company’s future performance, use of additional capital, plans to consolidate the logistics, marketing and buying of the Company and Vegan Essentials and the increased efficiencies that may result from the acquisition of Vegan Essentials. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, risk factors described in the Company’s final long form prospectus dated October 25, 2021. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.