Planet Ventures Inc. Comments on Lexagene's Company Growth

2018-02-12 / @thenewswire

(TheNewswire)

Vancouver, British Columbia / TheNewswire / February 12, 2018 - Planet Ventures Inc. (the “Company”) (TSX.V: PXI; FSE: P6U) is pleased to provide shareholders with an update on one of its investment, Lexagene Holdings Inc.

On February 6th 2018, the company announced that they have significantly expanded its operations in Massachusetts. Lexagene recently signed a lease for a 17,500-square-foot space, located at 500 Cummings Center, Suite 4550, in Beverly.

Dr. Jack Regan, Lexagene's chief executive officer stated, "As Lexagene started ramping up operations in December to meet our 2018 goals, we have leased a larger space to grow into which will support our research and development and manufacturing efforts moving forward. Additionally, over the last several weeks, we've made six key new hires and plan to bring an additional 20 more new employees on board in the coming weeks in anticipation of this growth. The Beverly location is also particularly ideal for us since it allows us to tap into the very talented pool of engineers and scientists in the Boston area."

The company is installing a state-of-the-art, level-two biosafety laboratory into the space. This will allow Lexagene to adhere to biocontainment precautions, specified by the CDC, while testing for dangerous pathogens, such as E. coli and staphylococcus.

Dr. Regan further stated, "2018 is going to be a very important year for the company as we bring the LX6 pathogen detection system online and move the machine towards commercialization."

Planet was an early investor in Lexagene and took part in the company’s initial financing in 2017 at $0.25/share. Planet currently owns 600,000 shares.

Zula Kropivnitski, Planet’s Chief Financial Officer states “We are extremely proud of Lexagene’s growth to date. Dr. Regan and his team have done a remarkable job moving the company forward and getting them in a position to deliver substantial value for their shareholders. We continue to support their efforts and look forward to being a part of what could become one of the most revolutionary technologies in the marketplace.”

About Lexagene

LexaGene is a biotechnology company developing a fully automated pathogen detection platform for use at the site of sample collection, which offers unprecedented ease-of-use, sensitivity, and breadth of pathogen detection. LexaGene’s technology aims to transform the way organizations prevent and diagnose disease in multi-billion dollar markets such as food safety, veterinary diagnostics, water quality monitoring, aquaculture pathogen surveillance, and more.

LexaGene’s patented microfluidic system was invented by company founder and CEO, Dr. Jack Regan, who was a lead scientist in developing a predecessor instrument designed for bio-warfare surveillance that was adopted by the Department of Homeland Security for the BioWatch Program and a second R&D instrument that was designed for detecting respiratory pathogens from nasal swab samples. The development of these instruments was supported by $20M in government funding.

For more information, please, visit Lexagene’s website at https://lexagene.com.

About Planet Ventures Inc.

Planet Ventures Inc. is positioning itself to be a leading investment issuer in Blockchain technologies and cryptocurrencies, providing investors exposure to a wide-range of investments in the Crypto/Blockchain markets. Planet invests in ICO’s (Initial Coin Offerings) and its management is focused solely on creating shareholder value by exposing its investors to multiple opportunities in the Crypto/Blockchain market. The Company’s initiative is to empower entrepreneurs developing disruptive technologies in the Blockchain space and provide them with the necessary capital and expertise to assist them in revolutionizing the industry. The company will retain its current investment portfolio and will continue to assess new opportunities for investment inside the cryptocurrency/blockchain space.

For more information, please visit our website: planetventuresinc.com

ON BEHALF OF THE BOARD

”Zula Kropivnitski”

_________________________
Zula Kropivnitski
Chief Financial Officer and Director

INVESTOR RELATIONS CONTACT

PLANET VENTURES INC.
Tel: (604) 681-0084

Fax: (604) 681-0094

Email: info@planetventuresinc.com

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.