Health and Wellness Stock News: Vejii Announces Closing of Vegan Essentials, Satisfaction of Escrow Release Conditions, and Commencement of Trading on the CSE (CSE: VEJI)
Vancouver, BC - November 8, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Vejii Holdings, Inc., 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 infostructure, 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 link below. VejiiHoldings.com
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