Digital Marketing Company for Sale

Vejii Announces Closing of Acquisition of VEDGEco USA, Inc.

Vejii Announces Closing of Acquisition of VEDGEco USA, Inc.
Written by publishing team

This acquisition will enable Vejii to expand its offering to business (“B2BWholesale distribution through grocery and food service channels for vegan brands through VEDGEco.com.

Vancouver, British ColumbiaAnd January 4, 2022 /PRNewswire/ – Vejii Holdings Ltd. (CSE: Branches) (“Fiji“or the”company‘), a North American online marketplace for plant-based and sustainable products, announces that it has completed its acquisition as of December 31, 2021 (the “acquisition”) from VEDGEco United States of America, Inc. (“Vidgeko“), a leading online B2B wholesale platform for plant-based products, from the shareholders of VEDGEco (together referred to as “”).sellers“).

under a purchase agreement (“Purchase Agreement“) on the date December 22 2021 Among Vejii, VEDGEco and the sellers, Vejii acquired all the issued and outstanding shares of VEDGEco (“”Purchased shares‘), at a total purchase price of 6,250,000 USD (the “Purchasing priceIn accordance with the purchase agreement, Vejii issued to Sellers on the closing date of the acquisition a total of 12,865,000 ordinary shares of Vejii at an estimated value 3,500,000 USD or 4502,750 Canadian dollars (the “stock vs”), as determined based on price per share vs 0.35 Canadian dollars, converted to United States of America dollar in bank Canada exchange rate on December 22 2021. The rest of the purchase price is paid in installments up to a maximum 2,750,000 USDpayable in common stock (“Dividends‘), priced in the context of the market, to be issued to sellers upon meeting VEDGEco of certain milestones as more specifically set forth in the purchase agreement.

The corresponding shares and the shares acquired are subject to a statutory holding period of four months and one day, and restrictions on transfer under United States of America Securities and Contractual Closing Laws as set forth in the Purchase Agreement (“voluntary confinementSubject to compliance with applicable securities laws, 12.5% ​​of the corresponding shares and shares acquired from voluntary foreclosure will be released on a quarterly basis for a period of 24 months from the date of issue.

VEDGEco’s key employees are expected to continue to operate VEDGEco’s operations and Corey Zielixon And Darren Gill, directors of Vejii, have joined the VEDGEco Board of Directors.

“I would like to personally thank our advisors and team members on both sides who worked tirelessly during the holidays to ensure this deal closes before the end of the year. This allows our new joint teams to start operating in 2022, focus on growing our business and introducing new customers and products to our platforms” Corey ZielixonCEO of Vejii Corporation.

The acquisition is expected to enhance synergies across the procurement, customer service, technology and logistics of Vejii and VEDGEco. Vejii will also be able to take advantage of VEDGEco’s existing facilities in HawaiiAnd Northern California And Georgia, while providing VEDGEco with access to its facilities in TexasAnd Wisconsin, and the third-party operational logistics process that will soon be operational in Southern California

In addition to offering VEDGEco’s existing offerings of wholesale vegan products, Vejii will now have the ability to significantly expand the selection of VEDGEco products by leveraging the purchase of the existing range of cases and expanding the range of products on its platform through VEDGEco. VEDGEco operates its own distribution centers from Hawaii And California, which will further expand Vejii’s distribution network, reducing shipping costs and expanding the company’s offer of regional same-day delivery.

“Between our going public and completing our acquisition of Vision Essentials, and then closing VEDGEco, 2021 is huge for us,” he said. Darren Gill, president and chief operating officer of Vejii. “I feel we have proven our ability to execute our plans and goals, close two deals in a couple of months, and the stage is now set for growth in 2022 as Vejii will be able to serve our brand partners through our direct-to-consumer and business-to-business marketplace by adding VEDGEco.”

About VEDGEco United States of America company

With the goal of providing the freedom to choose food for independent restaurants and businesses, VEDGEco is the first nationwide vegan wholesaler. Launched nationally in 2020, we ship frozen vegan products in bulk to restaurants and the wholesale food industry, as well as to consumers across the United States.

Our carefully curated selection of the best vegan meat, dairy and egg alternatives are shipped frozen and in recyclable and compostable packaging to reduce our carbon footprint and make it easy for our customers to say yes to delicious vegan foods!

About Vejii Holdings Inc.

Headquartered in Kelowna qVejii is a unified digital marketplace and implementation platform featuring thousands of plant-based and sustainable products from a growing list of hundreds of vendors. The platform provides an easy-to-use, multi-channel experience for both sellers and buyers, leveraging big data and artificial intelligence to elegantly connect brands to a target consumer base, either organically or through specialized marketing programs. Dynamic fulfillment services enable brands to deliver a first-class service, with ongoing engagement guided through features such as smart lists, subscription programs, reordering functions, sampling programs, and more.

The company also owns and operates US-based Veg Essentials LLC (“Vegetarian Basics“), which operates VeganEssentials.com. Vegan Essentials, a staple of the vegan community, was founded in 1997 and contributes more than 20 years of consumer insights, data, and purchasing power. VeganEssentials.com has been named Best Online Vegan Store from 2005-2018, plus Best Online Vegan Grocery from 2018-2021 by VegNews magazine.

For more information, visit VejiiHoldings.com

VejiiHoldings.com

On behalf of the Board of Directors:

Corey Zielixon, Director and CEO

Find Vejii on social media: on Instagram, Facebook, Twitter and LinkedIn

No securities regulator has approved or rejected the contents of this news release.

This press release does not constitute an offer to sell or the solicitation of an offer to purchase any securities of Vejii in any jurisdiction in which such offer, solicitation or sale would be unlawful. The corresponding shares and dividends have not been and will not be registered under the United States Securities Act of 1933, as amended (“US Securities Act“), or any state securities laws. Accordingly, the corresponding Shares and Shares acquired within the United States or to persons in the United States (as defined in Regulation S under the United States Securities Act) may not be offered or sold unless registered under US securities law and applicable state securities laws, or pursuant to exemptions from the registration requirements of the US securities law and applicable state securities laws.

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,” “expect,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan and” “may”, “should”, “will”, “will” and similar expressions. Forward-looking statements in this press release include statements relating to: (i) the payment of vested shares to sellers; (ii) the expected effects of the acquisition of the Company and VEDGEco, including In that expected expansion of Vejii’s offerings to include B2B wholesale distribution through VEDGEco.com, the expectation that key employees of VEDGEco would remain with the company, the expectation that the company would be able to grow the Vejii and VEDGEco business and new products on their own platforms, the expectation that the acquisition would drive synergies through acquisition and customer service, technology and logistics for Vejii and VEDGEco, expect Vejii to be able to utilize existing VEDGEco facilities in HawaiiAnd Northern California And Georgia, the expectation that Vejii will provide VEDGEco with access to its facilities, including the planned third-party logistics operation at Vejii in Southern California, anticipate that Vejii will be able to supply VEDGEco’s existing offerings of plant-based products in bulk, anticipate that Vejii will be able to expand the VEDGEco product range by leveraging the procurement of the existing portfolio of cases and expand the range of products on its platform through VEDGEco, anticipate that VEDGEco distribution centers will By further expanding Vejii’s distribution network, reducing freight costs and expanding the company’s offer for regional same-day delivery, Vejii is expected to be able to serve its brand partners through the company’s direct market to consumer and business to business through the addition of VEDGEco. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, it should not place undue reliance on the forward-looking statements and information because the Company cannot provide any guarantee that they will prove to be so. shout out. Because forward-looking statements and information address future events and conditions, they inherently 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 may not be able to pay the acquired shares to Sellers, and that the acquisition may not be It has foreseeable effects on the Company and/or VEDGEco and other factors beyond the Company’s control. Readers are cautioned that the list of foregoing factors is not exhaustive. The forward-looking statements contained in this news release are expressly conditioned on this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date of this release 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. , unless required by applicable laws.

SOURCE Vejii Holdings Ltd.

.

About the author

publishing team