VANCOUVER, BC, March 11, 2022 /CNW/ – Veji Holdings Ltd. (CSE: VEJI) (“Veji” or the “Company“), a North American online marketplace for plant-based and sustainable products, wishes to announce that subject to the approval of the Canadian Securities Exchange (the “CSE“), it intends to consolidate its issued share capital on the basis of one (1) new common share without par value for every four (4) existing common shares without par value (the “Share Consolidation”). No fractional shares will be issued in connection with the Share Consolidation and any fractional shares arising upon the Share Consolidation comprising less than one-half of one share will be deemed to have been tendered by the shareholder to the Company by way of gift and for cancellation and returned to the authorized but unissued share structure of the Company and any fractional shares arising upon the Share Consolidation comprising greater than or equal to one-half of one share will be converted into one whole share. The Company anticipates the effective date of the Share Consolidation will be March 28, 2022. Following the Share Consolidation, the Company intends to apply to the CSE for the repricing of certain of its outstanding common share purchase warrants (the “Warrant Repricing“). The Warrant Repricing remain subject to approval of the CSE.
The Company’s name and trading symbol will remain the same.
About Veji Holdings Ltd.
Headquartered in Kelowna B.C, Veji is a unified digital marketplace and fulfillment platform featuring thousands of plant-based and sustainable-living products from a growing list of hundreds of vendors. The platform offers an easy-to-use, omnichannel experience for both vendors and buyers, leveraging big data and artificial intelligence to elegantly connect brands with a targeted consumer base, both organically and through specialized marketing programs. Dynamic fulfillment services empower brands to offer tier-one service, with ongoing engagement being driven through features like smart lists, subscription programs, reordering functions, sampling programs, and more.
The Company also owns and operates the US.-based Veg Essentials, a staple of the plant-based community. Vegan Essentials was established in 1997 and contributes more than 20 years of consumer insight, data, and buying power. VeganEssentials.com was awarded best online vegan store from 2005-2018, as well as best online vegan grocery from 2018-2021 by VegNews Magazine. The Company also owns and operates VEDGEco. Headquartered in Kailua, Hawaii, and launched in 2020 VEDGEco is the first nationwide plant-based foodservice distributor, providing restaurants with high-quality plant-based options. With the goal of bringing the freedom of food choice to all restaurants and businesses, VEDGEco distributes plant-based products in bulk to the restaurant and wholesale food industry, as well as to consumers across the US.
Information on the Company and its many products can be accessed through Veji’s website.
ON BEHALF OF THE BOARD OF DIRECTORS:
Kory Zelickson, Director and CEO
Find Veji on Social Media: on Instagram, Facebook, Twitter and LinkedIn.
For investor inquiries or further information, please contact: IR@VejiHoldings.com
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 include statements relating the proposed Share Consolidation (including the timing thereof) and Warrant Repricing. 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, that the Company will not obtain the approval of the CSE to the Share Consolidation and the Warrant Repricing or the timeline for the Share Consolidation may be delayed and other factors beyond the Company’s control. 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.