“We have created PlantX to be a plant-based lifestyle brand and our vision aims to enrich people’s lives not just through plant-based education, but also by promoting general health, fitness and wellness,” said founder Sean Dollinger.
PlantX Life Inc has announced the launch of XFitness, the company’s new online fitness service featuring a variety of live and on-demand fitness classes delivered by professional instructors.
The Vancouver-based company, which is the digital face of the plant-based community, said XFitness will be accessible to members of XVIP, the newly launched membership program providing PlantX customers with access to a diverse range of benefits and exclusive membership offers.
From yoga and meditation to boxing, cardio, high-intensity interval training, martial arts, strength-based and functional fitness, XFitness classes are carefully curated and delivered by specialized instructors.
Customers can sign up for live classes on the XFitness platform or attend through on-demand videos.
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PlantX, which offers customers across North America more than 5,000 plant-based products through the PlantX platform, said XFitness was designed to ensure its customers have access to fun and effective fitness resources, which can holistically enrich their plant-based health through sport.
“We have created PlantX to be a plant-based lifestyle brand and our vision aims to enrich people’s lives not just through plant-based education, but also by promoting general health, fitness and wellness,” PlantX founder Sean Dollinger said in a statement.
“The XFitness vertical is a crucial component of this vision, as it helps our community gain access to fun and interactive fitness classes, connect with like-minded individuals and learn how to create an integrated plant-based routine to enhance their overall health and wellbeing,” he added.
XFitness classes are comprised of activities that suit all age groups and include fitness classes for children and young people too. XFitness is an adaptable fitness platform that can be enjoyed individually or with the entire family, said the company.
PlantX said it selects XFitness instructors based on their dedication to health promotion, plant-based living, and the alignment of their work ethics with PlantX values. XFitness instructors are also expected to act as the company’s ambassadors and promote PlantX’s offerings through their personal platforms.
Access to XFitness is exclusively through the XVIP membership program. XVIP is an updated version of PlantXpress, a membership option that the company first launched in April 2021. Available in Canada and the US, members who sign up for XVIP with an instructor coupon code receive a US$50 or C$50 PlantX coupon code. All XVIP members get 5% off all purchases submitted on the PlantX platform, and 10% off all purchases when using an instructor coupon code.
XVIP members can also participate in interactive challenges to win participation badges. In addition to XFitness, XVIP members receive free shipping on all PlantX orders, a 10% discount on all orders with no limits and access to PlantX special events and product launches.
XVIP memberships can be bought on a month-to-month basis on the company’s Canadian and US e-commerce platforms. Both XVIP and XFitness are available for a free 30-day trial that can be accessed on the XVIP platforms.
XVIP is offered to customers for US$25 per month or US$199 per year in the US and C$29.99 per month and C$299.95 per year in Canada.
PlantX CEO Lorne Rapkin noted that the XVIP membership plan includes an “upgraded and more attractive range of exclusive benefits” that enhances a customer’s enjoyment of PlantX products and services.
“Through XVIP, we hope to repay our customers’ loyalty more fully,” added Rapkin.
Private placement
Separately, PlantX said it completed an oversubscribed non-brokered private placement of 52,296,660 units at a price of C$0.105 per unit for aggregate gross proceeds of C$5.49 million to be funneled into business development, working capital and general corporate purposes.
The offering included the exercise of the company’s over-allotment option that increased the size of the offering by an additional C$491,150 from around C$5 million.
Each unit consisted of one common share in the share structure of the company and one common share purchase warrant. Each whole warrant shall be exercisable to buy one additional common share at an exercise price of C$0.14 for a period of two years from February 17, 2022.
If the trading price of the shares on the Canadian Securities Exchange equals or exceeds C$1.50 per share for 10 consecutive trading days, then the company may, at its option, within 10 business days accelerate the warrant expiry date by issuing a notice. In such a case, the warrant expiry date will be deemed to be 5.00pm on the 30th day following the issuance of the warrant acceleration press release.
The securities issued are subject to a four-month hold period ending on June 18, 2022.
The company said insiders participated in the offering and bought around 6.94 million units in what is constituted as a “related party transaction.”
Disclaimer:
The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.
