Category: Uncategorized
June 4th

Planet Organic Health Corp Announces New Strategic Steps

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.

Forward-Looking Statements

Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Planet. Many of these statements can be identified by looking for words such as \"believe\", \"expects\", \"expected\", \"will\", \"intends\", \"projects\", \"anticipates\", \"estimates\", \"continues\", or similar words and include but are not limited to, statements regarding the accretive effects of the acquisition and the anticipated results and expected benefits of the acquisition upon closing thereof. Planet Organic believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Planet Organic\'s continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Planet Organic\'s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of Planet Organic. Any forward-looking statements are made as of the date hereof and Planet Organic does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.

For further information on POHC and its five divisions, please visit our

website at:

www.planetorganichealthcorp.com or www.sedar.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: Planet Organic Health Corp.

about this news release, please contact: Planet Organic Health Corp., Darren Krissie, VP Corporate Development, CFO, (780) 719-4667; The Howard Group Inc., Bob Beaty, Toll Free: 1-888-221-0915, This email address is being protected from spambots. You need JavaScript enabled to view it., www.howardgroupinc.com