Veji Holdings Ltd. (CSE:VEJI)(OTCQB:VEJIF) has completed the sale of its domain, VeganEssentials.com, and associated intellectual property and assets to a wholly-owned subsidiary of PlantX Life Inc. The transaction was previously announced on April 6, 2021.
VeganEssentials.com is an e-commerce website that offers a wide range of vegan products, including food, clothing, and cosmetics. The website was founded in 1997 by John Schlimm and has been operated by Veji since 2018.
Veji moved the asset as part of a strategic review aimed at focusing the company on its core business.
PlantX is a plant-based food and lifestyle company with an e-commerce platform that offers a curated selection of plant-based products. The company also operates brick-and-mortar retail locations in Vancouver and Toronto. The Transaction is part of PlantX’s strategy to become a one-stop shop for all things plant-based and expand its product offerings beyond food into areas such as fashion and beauty.
The completion of the Transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals.
As part of the deal, PlantX Life Inc. will also assume certain liabilities associated with the operation of the website. This move comes as part of PlantX’s strategy to become a one-stop shop for all things plant-based and expand its product offerings beyond food into areas such as fashion and beauty.
