2022-07-29 | CSE:VEJI | Press release
VANCOUVER, BC /ACCESSWIRE/July 29, 2022/Vejii Holdings Ltd. (CSE:VEJI) (OTC:VEJIF) (the “Company” Where “Vejii“), a North American online marketplace for plant-based and sustainable products, today announces that the Company’s Board of Directors, in light of current market conditions and the Company’s cash requirements , authorized management to initiate a process to identify, review and pursue strategic alternatives to the Company’s current business (the “Strategic review processAs part of the strategic review process, management will focus on evaluating options that it believes are in the best interests of the company and planning the most accretive path to maximize shareholder value. .
As part of the strategic review process, management has begun and will continue to seek opportunities, including, but not limited to, equity/debt investment from a strategic partner, potential sale of all or part of the Company’s assets, operations and wholly-owned subsidiaries, as well as the search for mergers and acquisitions opportunities, with the aim of identifying the best opportunity and entering into a definitive agreement to enter into a transaction . “I am very proud of the business we have built, and in light of current market conditions, the valuation of the company and its capital needs, we will focus on identifying opportunities that are in the best interests of the company and our shareholders,” said Kory Zelickson, CEO of Vejii.
This company intends to consolidate its B2C business to operate under a single domain at VeganEssentials.com (“Vegan Essentials“). ShopVejii.com will cease operations in the near future and all traffic will be directed to Vegan Essentials in the future.
The Company cautions that there can be no assurance that the strategic review process will result in the Company entering into a transaction or, if a transaction is undertaken, as to the terms or timing of such transaction. The Company has not yet established a definitive timetable for completing the identification, review and consideration of strategic alternatives.
About Vejii Holdings Ltd.
Based in Kelowna, BC, Vejii is a unified digital marketplace and fulfillment platform featuring thousands of herbal and sustainable living products from a growing list of hundreds of vendors. The platform offers an easy-to-use omnichannel experience for sellers 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 enable brands to deliver premier service, with ongoing engagement through features such as smart lists, subscription programs, replenishment features, sample programs, and more. .
The Company also owns and operates the US company Veg Essentials LLC (VeganEssentials.com), a staple of the plant community. Vegan Essentials was established in 1997 and has contributed over 20 years of consumer insight, data and buying power. VeganEssentials.com was voted Best Online Vegan Store 2005-2018 and Best Online Vegan Grocery Store 2018-2021 by VegNews Magazine.
The Company also owns and operates VEDGEco USA Inc. (VEDGEco.com). Based in Kailua, Hawaii and launched in 2020, VEDGEco is the nation’s leading plant-based foodservice distributor, providing restaurants with high-quality, plant-based options. With the goal of bringing 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 United States. United.
For more information, please visit VejiiHoldings.com
ON BEHALF OF THE BOARD OF DIRECTORS:
Director and CEO
For investor inquiries or further information, please contact: [email protected]
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No securities regulatory authority has approved or disapproved of the contents of this press release.
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 are generally 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, but are not limited to, the review process strategy and any transactions that may result from this process. Although the Company believes that the expectations and assumptions on which these 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 does not cannot give any guarantee that they will prove to be correct. Because forward-looking statements and information relate to future events and conditions, they, by their very nature, involve risks and uncertainties. inherent titudes. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, without limitation, the risk that the Company may fail to identify an equity/debt investment with of a strategic partner, the potential sale of all or a substantial portion of the Company’s assets, operations and wholly-owned subsidiaries, or an appropriate merger and acquisition opportunity and the risk factors described in the report of management of the Company for the year ended December 31, 2021. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. , except as required by applicable law.
THE SOURCE: Vejii Holdings Ltd.
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