PLANET ORGANIC HEALTH CORP : POH Announces New Strategic Steps
05 juin 2008•16:53
Planet Organic Health Corp Announces New Strategic Steps
EDMONTON, June 4 /CNW/ - PLANET ORGANIC HEALTH CORP (TSX Venture Exchange
- POH), Canada's leading organic food and natural products retailer will
refocus its aggressive growth plans on its existing divisions, it decided in
the wake of a strategic board meeting.
The board meeting followed last month's decision to abandon a planned
public market financing because the fully marketed offering of common shares,
announced on April 1, 2008, met very weak public market conditions. As a
result, the offering could not be completed at a price that appropriately
valued the company's internal growth opportunities.
In addition to refocusing and intensifying its expansion energies
inwardly, POH is also seeking alternative growth financing.
"We are continuing with the relocation of Mrs Green's commissary to a
larger location to service more planned store locations. Planet Organic
Markets recently opened their second Ontario location in Vaughan and have
signed a lease for a third Ontario store. We will continue with the rebrand of
Healthy's to Planet Organic Living.
"Pausing and focusing on existing operations for awhile is always a good
step since it allows us to work on integrating and improving what we already
have," said Darren Krissie, VP and CFO for POH.
Mr. Krissie said the previously announced deal to purchase the
California-based organic food retailer, New Leaf Community Markets, will not
proceed because of the decision to abandon the public market financing.
However, Mr. Krissie added that the relationship with New Leaf's founders
remains strong and today's decisions won't preclude any future business
dealings between POHC and New Leaf.
"New Leaf is a fabulous organization and we will be keeping in touch with
its President and founder, Scott Roseman, and his team," Mr. Krissie said.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry
company, comprising manufacturing, distribution and retail. Planet is listed
on the TSX Venture Exchange as a Tier One company. Planet operates nine
natural food supermarkets throughout Canada under the Planet Organic Market
banner and eleven natural food supermarkets in the U.S. under the Mrs Green's
Natural Markets banner. The Company also operates 48 natural health outlets
under the Sangster's Health Centre banner and eight natural health outlets
under the Healthy's & Planet Organic Living banner. Another POHC company,
Trophic Canada is the country's leading manufacturer of natural supplements.
The Company has a total of 65 stores throughout Canada and 11 in the U.S.
L'ensemble des analyses et/ou recommandations présentes sur le forum BOURSORAMA sont uniquement élaborées
par les membres qui en sont émetteurs.
Agissant exclusivement en qualité de canal de diffusion, BOURSORAMA n'a participé en aucune manière
à leur élaboration ni exercé aucun pouvoir discrétionnaire quant à leur sélection. Les informations
contenues dans ces analyses et/ou recommandations ont été retranscrites "en l'état", sans déclaration
ni garantie d'aucune sorte. Les opinions ou estimations qui y sont exprimées sont celles de leurs auteurs
et ne sauraient refléter le point de vue de BOURSORAMA. Sous réserves des lois applicables, ni l'information
contenue, ni les analyses qui y sont exprimées ne sauraient engager la responsabilité BOURSORAMA.