Planting Hope Achieves New Distribution in 4,581 Retail Locations Across the United States with RightRice(R) Veggie Rice

Rhea-AI Summary

The Planting Hope Company (TSXV:MYLK, OTCQB:MYLKF) announced the introduction of RightRice to 4,581 retail locations within a leading US pharmacy, marking a significant expansion into the grocery sector. This initiative increases the company's retail presence by 45% and adds 8,807 Total Distribution Points (TDP), enhancing its overall TDP by 15%. RightRice, a vegetable-based rice alternative, boasts high protein and fiber content with a low glycemic index, appealing to health-conscious consumers. Products are expected to be available by the end of Q1 2023.

Positive

• Expansion into 4,581 new retail locations increases retail presence by 45%.
• Addition of 8,807 Total Distribution Points (TDP) enhances market accessibility by 15%.
• RightRice offers health benefits, including high protein (11g) and fiber (6g) with low glycemic index.

Negative

• None.

• A leading US pharmacy retailer is adding two flavors of RightRice^® to the Grocery section
• This growth adds 4,581 retail doors and 8,807 additional Total Distribution Points ("TDP"), increasing retail doors by 45% and TDP by 15% for Planting Hope products

CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / February 7, 2023­­­­­­ / The Planting Hope Company Inc. (TSXV:MYLK)(OTCQB:MYLKF)(FRA:J94) ("Planting Hope" or the "Company"), a plant-based food and beverage company focused on producing the world's most nutritious and planet-friendly products, is pleased to announce that RightRice^® is being added to the assortments at 4,581 retail locations of a leading US pharmacy. The two flavors of RightRice^® being added, bestselling Spanish and Garlic Herb, will result in 8,807 additional Total Distribution Points ("TDP") for the Company, increasing store locations by 45% and TDP by 15%. With this expanded distribution, Planting Hope products will now be available in more than 15,000 retail locations and 70,000 TDP.

"We are thrilled to be entering the retail pharmacy channel with RightRice^® Veggie Rice," said Julia Stamberger, CEO and Co-Founder. "RightRice^® is high in complete protein and dietary fiber with a low glycemic index - a perfect addition for wellness-conscious consumers. RightRice^® is exceptionally simple to prepare (just add boiling water!), making it a convenient and effective solution for customers who want easy options for healthier eating."

The RightRice^® SKUs will start to appear across the United States in the new distribution by the end of Q1 2023.

About RightRice^®
RightRice^® is a vegetable-based, protein-rich, lower carbohydrate alternative to white rice that's packed with fiber and complete plant-based protein. RightRice^® is the first of its kind: a shelf-stable grain that's 90% vegetables (lentils, chickpeas, green peas), and delivers on taste, functionality, and nutrition. With more than 11g of complete protein and 6g of fiber per 50g serving, RightRice^® provides almost four times the protein and 40% fewer net carbohydrates than traditional white rice, plus it can be prepared in 12 minutes. RightRice^® is available in Original (unflavored) and pre-seasoned flavor varieties, including Garlic Herb, Spanish, and Cilantro Lime. RightRice^® Risotto provides a protein-rich, easy-to-cook alternative to traditional risotto. All RightRice^® products are made using real herbs and spices. They are plant-based, non-GMO verified, gluten-free certified, and Kosher certified. RightRice^® products are currently sold in more than 8,500 doors in leading retailers across North America, including Whole Foods Market, Wegman's, Kroger, Sprouts, and Publix, and in Canada can be found at Walmart stores. RightRice^® is ideal for foodservice applications, and is featured on restaurant menus, including CAVA locations nationwide. RightRice^® has received awards and acclaim since its launch in 2019, including People Magazine's Best Plant-Based Food Award, NOSH's Best New Product, and Sunset Magazine's 2021 Pantry Award, in addition to being highlighted as the Best Alt Grain Grocery Store Swap by goop. RightRice^® Risotto was awarded Best Sauce/Store Cupboard Product in FoodBev's 2021 World Plant-Based Taste Awards and received the 2021 Eco Excellence Award for Best Gluten Free Product, in addition to being chosen as a 2021 Editors' Pick for Best New Product by Progressive Grocer.

About The Planting Hope Company Inc.
Planting Hope develops, launches, and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope's award-winning and cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. The Planting Hope brand family includes Hope and Sesame^® Sesamemilk, Barista Blend Sesamemilk, Sesamilk^™ creamers, RightRice^® Veggie Rice, Mozaics^™ Real Veggie Chips, and Veggicopia^® Veggie Snacks. Planting Hope products are currently found in more than 15,000 retail doors and 70,000 total distribution points across North America. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company focused on nutrition, sustainability, and representation.

For more information about Planting Hope please visit plantinghopecompany.com, sign up for Planting Hope news emails HERE and follow on LinkedIn.

An informational webinar on The Planting Hope Company from CEO and Co-Founder Julia Stamberger is available HERE.

To follow the brands on Instagram and Facebook, please visit: @hopeandsesameco, @rightrice, @mozaicschips, @veggicopia.

To find Planting Hope products at a store near you in the United States or Canada, please visit the store locator on each brand website: Hope and Sesame store locator, RightRice store locator, Mozaics Real Veggie Chips store locator. Planting Hope products are also available at plantinghopebrands.com and ecommerce retailers including Amazon.com and Amazon.ca.

Contacts

Company Contact:
Julia Stamberger
CEO and Co-Founder
(773) 492-2243
julia@plantinghopecompany.com

Investor Relations Contact:
Glen Akselrod, Bristol Capital
(905) 326-1888 ext. 1
glen@bristolir.com

Media Contact:
Alex Jessup, Jessup PR
(323) 529-3541
alex.jessup@jessuppr.com

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

Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including statements about the Company's ability to execute on its goals, the timing pertaining to these goals, the potential demand for the Company's products, the timing and success of anticipated product launches and distribution of the Company's products, and the Company's business prospects, future trends, plans and strategies. In some cases, forward- looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that demand for the Company's product will be sustained or increase in accordance with management's projections, that the Company's internal research and analysis is indicative of broader market trends and the Company's anticipated future demand for its products, that changes in consumer preferences in the plant-based food industry will continue in accordance with the Company's expectations, that the Company's current business objectives can be achieved and that its other corporate activities will proceed as expected, and that general business and economic conditions will not change in a materially adverse manner. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that any forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the Company's annual information form dated January 6, 2022 and the Company's continuous disclosure record available on SEDAR at www.sedar.com. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

SOURCE: The Planting Hope Company Inc.

View source version on accesswire.com:
https://www.accesswire.com/738281/Planting-Hope-Achieves-New-Distribution-in-4581-Retail-Locations-Across-the-United-States-with-RightRiceR-Veggie-Rice

FAQ

What is the significance of Planting Hope adding RightRice to 4,581 retail locations?

This expansion significantly increases their retail presence by 45% and adds 8,807 Total Distribution Points, enhancing market reach.

When will RightRice products be available in the new pharmacy locations?

RightRice will start to appear across the United States by the end of Q1 2023.

What are the health benefits of RightRice as stated in the press release?

RightRice is high in complete protein and dietary fiber while having a low glycemic index, making it suitable for wellness-conscious consumers.

What company is behind the RightRice product expansion?

The Planting Hope Company is the driving force behind the expansion of RightRice into new retail locations.