Vancouver, BC, November 12th, 2021 /CNW // — Veji Holdings Ltd. (“Veji” or the “Company”) a North American online plant-based and sustainable products marketplace, is pleased to announce it is now trading on the CSE under the symbol “VEJI”, and the Company is pleased to share the following updates:
Closing Vegan Essentials:
This follows on the heels of Veji’s successful acquisition of a leading online retailer of vegan grocery products, Veg Essentials LLC (“Vegan Essentials” or “VeganEssentials.com”). The acquisition provides Veji 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 previously disclosed on April 15 2021, Vegan Essentials brings over 3.5M CAD of revenue to Veji Holdings Ltd based on its 2020 unaudited financials
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 Magazine.
Veji Holdings’ marketplace “ShopVeji.com” consolidates plant-based and sustainable brands through its digital marketplace offering thousands of products from hundreds of vendors in a centralized, online shopping experience. The Company is aiming to build a community of ethically aligned consumers, with the intention of bettering our planet by supporting sustainable living. In the Company’s view, consumers are becoming more aware of their environmental impact, and there is a movement towards supporting sustainable companies and consumers have a choice to purchase from companies that best align with their own core values. The Company believes it has strategically positioned itself to capitalize on this growing sector.
Helping Brands Get Access to Consumers
Veji Holdings’ marketplace continues to gain traction as witnessed by press releases from our brand partners, with companies like Boosh Foods, NEXE, Sol Cuisine, Nabati, Plant Veda, and Blender Bites all having recently announced agreements with Veji for sales and distribution in Canada, the US, or both. In the US Veji has signed on well-known brands such as NotCo, Daring Foods, and Future Farms. “These brands listing with Veji, signify the power of our marketplace model, where brands leverage Veji’s customer reach, distribution network, last mile service and social presence to gain access to consumers across Canada and the US. Our customers benefit by getting access to thousands of products in one place, rather than having to shop at multiple brick and mortar stores, or eCommerce sites. at Veji we enable our customer to get everything they want in one place, weather you’re looking for grocery, wine, personal care, or more” said Kory Zelickson, CEO of Veji Holdings Ltd.
Message from the CEO
CEO of Veji, Kory Zelickson stated: “We are thrilled to have investors welcome Veji to the public markets. After an extensive period preparing to be publicly traded, we have successfully completed the first major step as a newly public company. We look forward to executing on the vision of the Company and to continue to make plant-based and sustainable living products widely accessible and convenient. Not only have our shareholders recognized that consumers’ demands and expectations for how products are made is changing, but they acknowledge our unique and competitive position in the industry as we leverage our technology and extraordinary customer service. We are thankful for their enthusiasm and support and look forward to providing value to our new and old investors as Veji continues to grow.”
Plant-based & Sustainable Living Market
In the Company’s opinion, plant-based and sustainable living products have become a leading consumer trend with both well established and new, innovative companies hitting the market with products regularly. These companies continue to launch products across new and growing consumer categories with an ever-expanding range of products. Companies like Beyond Meat, Oatly, and Impossible Foods have led a movement towards making plant-based mainstream from a food perspective, but today other global brands have also introduced plant-based products like mushroom leather fashion, furniture, accessories, and vegan running shoes, showing consumer sentiment towards sustainable products. The Company views these products as appealing not only to the plant-based consumer but also to a traditional mainstream consumer as the Company believes shoppers are continually becoming more environmentally conscious with their purchasing. New York-based Nielsen forecasts the sustainable product market to reach somewhere between $142.4 billion and $150.1 billion by 2021.
About Veji Holdings Ltd.
The Company is headquartered in Kelowna B.C. and is operating its online marketplace ShopVeji.com in both Canada and the US, along with online vegan grocer VeganEssentials.com. Veji Holdings Ltd. is focused on providing its customers with easy access to thousands of plant-based and sustainable living products in one place. Veji leverages its logistics infrastructure, distribution networks technology integrations like smart lists, reorders features, subscription programs and 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.
ON BEHALF OF THE BOARD OF DIRECTORS:
Director and CEO
For investor inquiries or further information, please contact: IR@shopveji.com
Find Veji on Social Media: on Instagram, Facebook, Twitter and LinkedIn
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, market trends and Company expectations on the growth of the plant-based and sustainable consumer market. 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.