PLANET BASED FOODS TAPS VIOLIFE FOR EXPANDING CONVENIENCE FOOD LINE

Rhea-AI Summary

Planet Based Foods Global Inc. (OTCQB: PBFFF) has partnered with Violife to become the exclusive supplier of dairy-free cheese for its hemp-based convenience foods. This collaboration will enhance products like the Original and Southwest Taquitos, which will be showcased at the Natural Products EXPO West 2023. Violife's dairy-free cheeses, free from preservatives and allergens, are expected to complement Planet Based Foods' nutritious offerings. The new taquitos will provide consumers with convenient, plant-based options packed with protein and omega-3s, supporting sustainable food systems. This partnership aligns with both brands' commitment to quality and innovation.

Positive

• Partnership with Violife enhances product offerings, providing exclusive dairy-free cheese for new convenience foods.
• New taquito formulations feature high-protein hemp-based ingredients, boosting product appeal.
• Products will be showcased at Natural Products EXPO West 2023, increasing visibility and market presence.

Negative

• None.

Violife to serve as exclusive dairy-free cheese provider for Planet Based Foods' hemp-based convenience foods

VANCOUVER, BC, Feb. 23, 2023 /PRNewswire/ - Planet Based Foods Global Inc. (CSE: PBF) (OTCQB: PBFFF) (FRA: AZ0) ("PBFG", "Planet Based Foods" or the "Company") is pleased to announce that its wholly-owned subsidiary, Planet Based Foods, the first and only U.S. company to produce nutritious plant-based meat with sustainable hemp as its number one ingredient, today announced Violife^® as the exclusive plant-based cheese provider for its line of good-for-you, good-for-the-planet convenience foods. Planet Based Foods will showcase new formulations of its Original and Southwest Taquitos that feature Violife vegan Colby Jack Shreds alongside Planet Based Foods' high-protein hemp-based crumble at Natural Products EXPO West 2023. Planet Based Foods will also unveil new packaging for its plant-based taquito line that features the Violife logo.

Violife, the top-selling dairy-free cheese brand in the U.S., will supply its dairy-free cheeses for use by Planet Based Foods in new products as they come to market. The two brands will participate in collaborative in-person and digital marketing efforts, including a 'Taquito Thursday' celebration at EXPO West, March 9, 3 - 4 pm at Planet Based Foods' Booth #893, Hall A.

"To elevate hemp as a superfood that can fuel a more sustainable food system, we have to delight consumers with delicious products that appeal to their dietary needs," said Planet Based Foods CEO and Co-Founder Braelyn Davis. "Violife's top-quality plant-based cheeses — free from dairy, preservatives, casein, lactose, gluten, nuts and soy —  taste delicious and their outstanding performance makes them an ideal ingredient for Planet Based Foods' taquitos and growing line of hemp-based convenience foods."

"We're excited to be able to offer new and existing fans an opportunity to enjoy our dairy-free cheeses in Planet Based Foods' vegan taquitos now available widely at Kroger," Rachel Waynberg, Sr. Manager, Foodservice for Violife. "Violife and Planet Based Foods have shared values around quality and innovation, so we're looking forward to ongoing collaboration opportunities with Planet Based Foods as they expand their product line."

EXPO West 2023 attendees can sample Planet Based Foods' new formulations of its Original and Southwest Taquitos featuring Violife cheese at Planet Based Foods' Booth #893, Hall A:

• Original Taquitos with Cheese - serve up 5g of plant-based protein via Planet Based Foods' hemp-based crumble and include Violife Colby Jack Shreds wrapped in a crunchy, gluten-free corn tortilla shell.  SRP $7.99 for 8 taquitos.

• Southwest Taquitos - feature 4g of plant-based protein, plus green chilis and natural seasoning that pack additional flavor into these vegan, gluten-free taquitos made with Violife Colby Jack Shreds. SRP $7.99 for 8 taquitos.

Planet Based Foods is currently developing new hand-held, frozen convenience foods to make it easier for consumers to incorporate good-for-you, good-for-the planet foods into their busy lifestyles. Unlike other plant-based ingredients, hemp is a complete protein with all 9 essential amino acids and is rich in fiber and Omega-3 fatty acids. Hemp regenerates soil, requires less water than traditional crops, and sequesters carbon efficiently — making it an ideal rotation crop that can help mitigate climate change and its impacts on the food system.

About Planet Based Foods

Planet Based Foods creates clean, non-GMO, nutrient-dense food that's built for the future: the first line of plant-based meats with sustainable hemp as the number-one ingredient. The company's innovative production process is the first to use hemp seed, along with pea protein and brown rice, to maximize nutrients and fiber with zero waste. The result is delicious plant-based meat that delivers high-performance nutrition, including protein, fiber, and omega 3-6-9 fats with no soy, gluten or GMO ingredients. Founded in 2019 by nutritionist and hemp marketer Braelyn Davis, food scientist and plant-based pioneer Robert Davis, and restaurant industry veteran Ted Cash, the company is on a mission to establish hemp as a nutrient-dense protein source that can feed the world sustainably for generations to come. Planet Based Foods' suite of products includes its new consumer line of nutritious frozen foods, as well as plant-based meat ingredients and handheld comfort foods for foodservice and restaurants. The San Diego-based company is a wholly-owned subsidiary of Planet Based Foods Global Inc., which is publicly traded on the Canadian Stock Exchange (CSE: PBF), the US-based OTCQB (OTCQB: PBFFF) and the German Börse Frankfurt exchange (FRA: AZO). Visit planetbasedfoods.com and follow @PlanetBasedFoods on Instagram, Facebook and Twitter.

About Violife

At Violife, we want everyone to live life to the fullest. Originating from ''vios'', the Greek word for life, Violife means "life squared." We bring people together by making food that everyone can enjoy. Based in Thessalonika, Greece, Violife has been dedicated to making great-tasting, 100% vegan, non-dairy and non-GMO foods since the 1990s. Violife products were created by three friends in Greece who wanted to eat cheese throughout the 100 days of fasting observed under the Greek Orthodox calendar, which prohibits eating dairy products. To learn more about Violife, please visit the Violife YouTube channel to view our EPIC Movie or visit www.violifefoods.com/recipes and check out @ViolifeUS on Instagram for recipe inspiration - from dairy-free dinners to delicious vegan desserts. 

On Behalf of the Board
Braelyn Davis
President, Chief Executive Officer and Director

For more information, please visit:
www.planetbasedfoods.com or contact: invest@planetbasedfoods.com

Forward Looking Statements:

Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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SOURCE Planet Based Foods

FAQ

What is the partnership between Planet Based Foods and Violife?

Planet Based Foods has partnered with Violife as its exclusive dairy-free cheese supplier, enhancing its hemp-based convenience food line.

What products are being launched by Planet Based Foods with Violife cheese?

The new products include Original and Southwest Taquitos featuring Violife vegan Colby Jack Shreds.

When will the new taquitos be showcased?

The new taquitos will be showcased at the Natural Products EXPO West on March 9, 2023.

What are the nutritional benefits of the new taquitos?

The taquitos are designed to be high in plant-based protein, with 5g in the Original Taquitos and 4g in the Southwest Taquitos.

What does the partnership mean for Planet Based Foods' market strategy?

This partnership reflects Planet Based Foods' strategy to expand its product line and appeal to consumers seeking nutritious and sustainable food options.