The starting date will be confirmed once the outstanding subscription receipts and special warrants have been converted and Vejii has filed all listing documentation. The company expects this to take place soon, but it will first need to complete its acquisition of VeganEssentials.com. The acquisition will make Vejii the largest exclusively vegan online marketplace in North America.
According to Vejii’s prospectus, 12,210,857 common shares and 6,105,429 common share purchase warrants will be issued after the conversion. In the 24 months following the conversion date, each common share purchase warrant will be exercisable into a common share at a price of $0.50.
“Being public provides faster access to growth capital and the opportunity to leverage share capital for new opportunities,” Vejii CEO Kory Zelickson told FoodNavigatorUSA.
Vejii’s growth has been astronomical — the marketplace only launched last year, but it was soon offering thousands of brands such as Barvecue and Before the Butcher across the US and Canada. The company’s success can be partially attributed to its successful marketing, which has included selecting vegan athletes like Tia Blanco and Lawrence Okolie as brand ambassadors. Vejii will soon be expanding further, stocking vegan fashion alongside its current range of plant-based foods and vegan personal care items.
In an interview with vegconomist earlier this year, Zelickson said he saw the platform as a way to create change. “By introducing plant-based products to the masses, and gaining national exposure, we feel that we will have a significant impact on global meat consumption by promoting plant-based alternatives,” he said.