Barfresh Expands Penetration of the Education Channel with Addition of 536 New School Locations in the State of Maryland

Rhea-AI Summary

Barfresh Food Group (OTCQB: BRFH) has expanded its education program to 536 new school locations in Maryland, impacting over 380,000 students across eight school districts. Notably, Anne Arundel County Public Schools, with 124 schools, anticipates around 30,000 weekly servings of Barfresh's Twist & Go beverages. CEO Riccardo Delle Coste expressed confidence in exceeding $2 million in revenue for Q4 2021, citing strong growth in the education sector. This expansion signals Barfresh's commitment to increasing market penetration and revenue generation.

Positive

• Expansion to 536 school locations indicates strong market growth potential.
• Anticipation of 30,000 weekly servings in one district demonstrates significant demand.
• Expected revenue exceeding $2 million in Q4 2021 suggests positive financial momentum.

Negative

• None.

Expansion to Eight New School Districts with Over 380,000 Students

One of the Eight School Districts with 124 Schools Forecasts Approximately 30,000 Servings Per Week of Twist & Go

LOS ANGELES, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (the “Company” or “Barfresh”) (OTCQB: BRFH) (OTCQB: BRFHD), a provider of frozen, ready-to-blend and ready-to-drink beverages, today announced that it has expanded its education program to an additional 536 school locations. These new locations are spread out across eight school districts in the state of Maryland and form a collective student population of over 380,000 students. The eight school districts in order from largest to smallest are: Montgomery County Public Schools, the 14^th largest public-school district in the country; Anne Arundel County Public Schools, the 39^th largest public-school district in the country; Frederick County Public Schools; Carroll County Public Schools; St. Mary’s County Public Schools; Cecil County Public Schools; Calvert County Public Schools and Caroline County Public Schools. Anne Arundel County Public Schools, one of the largest of the eight school districts with 124 schools and over 84,000 students, is alone forecasting approximately 30,000 servings of Twist & Go product per week. The remaining seven school districts are in different phases of coming online with most already receiving and serving product weekly to their students.

Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “We are thrilled to announce the expansion of our presence in the state of Maryland with the addition of 536 school locations spread out across eight new school districts. Our ability to expand across the United States and in specific geographies has been due to our strong sales network made up of regional team members with deep connections in their territories. As detailed one of the eight school districts is alone forecasting to serve an impressive 30,000 units of our product per week. We have stated that based on the momentum in the education channel over the course of 2021, we will be recording our highest quarterly revenue in the seasonally light fourth quarter 2021 and expect to exceed $2 million in revenue. I’m incredibly proud of our success within this channel and look forward to maintaining this momentum in 2022.”

About Barfresh Food Group

Barfresh Food Group Inc. (OTCQB: BRFH) is a developer, manufacturer and distributor of ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, primarily for restaurant chains and the foodservice industry. The company's proprietary, patented system uses portion-controlled pre-packaged beverage ingredients that deliver freshly made frozen beverages that are quick, cost efficient, better for you and without waste. Barfresh has an exclusive distribution partnership with the leading food distributor in North America. For more information, please visit www.barfresh.com.

Forward Looking Statements

Except for historical information herein, matters set forth in this press release are forward-looking, including statements about the Company's commercial progress, and success of its strategic relationship(s). These forward-looking statements are identified by the use of words such as "grow", "expand", "anticipate", "intend", "estimate", "believe", "expect", "plan", "should", "hypothetical", "potential", "forecast" and "project", “continue,” “could,” “may,” “predict,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The contents of this release should be considered in conjunction with the Company's recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any warnings, risk factors and cautionary statements contained therein. Furthermore, the Company expressly disclaims any current intention to update publicly any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

Investor Relations
John Mills
ICR
646-277-1254
John.Mills@icrinc.com

Deirdre Thomson
ICR
646-277-1283
Deirdre.Thomson@icrinc.com

FAQ

What recent expansion did Barfresh Food Group (BRFH) announce?

Barfresh announced the expansion of its education program to 536 new school locations across eight districts in Maryland.

How many students are impacted by Barfresh's recent expansion?

The expansion affects over 380,000 students in the new school districts.

What is the expected revenue for Barfresh in Q4 2021?

Barfresh expects to exceed $2 million in revenue for Q4 2021.

Which school district forecasts the highest servings of Twist & Go products?

Anne Arundel County Public Schools forecasts approximately 30,000 servings per week.

What products does Barfresh provide to schools?

Barfresh provides frozen, ready-to-blend and ready-to-drink beverages.