Plant Veda Wraps 2021 and Expects a Prosperous 2022
Plant Veda Foods reflects on a successful 2021 and anticipates growth in 2022. Key achievements include doubling retail presence through partnerships with major distributors like Sysco Corp. and expanding product lines with new offerings like PlantGurt. The company enhanced its management team and secured a new 25,000 sq ft manufacturing facility, aiming for an annual production capacity of 2.5M litres. Looking forward, Plant Veda plans additional product launches and aims for accelerated revenue growth in the dairy-alternative market.
- Doubled retail presence, partnering with major distributors like Sysco Corp.
- Launched new product lines including PlantGurt, enhancing product range.
- Secured a 25,000 sq ft manufacturing facility, increasing production capacity to 2.5M litres.
- Strengthened management team by adding experienced professionals.
- None.
Plant Veda Recaps 2021 and Looks Towards 2022
VANCOUVER, British Columbia, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Plant Veda Foods Ltd. (CSE:MILK) (OTC:PLVFF) (XFRA:A3CS6B) (the “Company” or “Plant Veda”), an award-winning dairy-alternative food manufacturer, is pleased to provide an overview of its business achievements of 2021 and its plans for 2022.
In 2021, the Company implemented its business strategies across all divisions, including distribution, manufacturing, and corporate structure. These milestones included, but not limited to, winning the Cleanchoice Award from Clean Eating Magazine and finalist for the Product of the Year Award by BC Food and Beverage Association.
The Company was able to double its retail presence, working with institutions such as Sysco Corp., America’s biggest wholesale food distributor, and the Canadian subsidiary of United Natural Foods, Inc. with its network of more than 5,000 Canadian retail stores. Additional retail stores onboarded included Nesters Markets, Buy-Low Foods, IGA and Sungiven Foods and others.
The Company launched its new product line of spoonable yogurt “PlantGurt” and a new Sampler Box available on Plant Veda’s e-commerce store. Plant Veda products were also featured at both TEDMonterey and TEDWomen.
Corporately during 2021, Plant Veda commenced trading on the Canadian Securities Exchange under the ticker symbol MILK, the Frankfurt Exchange on July 2021 under the ticker symbol A3CS6B, and the OTC Markets in the USA under the symbol PLVFF. The Company strengthened its management by adding Deanna Embury, former Be Fresh CEO, and Wilson K. Lee, an award-winning restaurant entrepreneur, to its Board of Advisors. Plant Veda also appointed production and quality expert Mr. Mehdi Gohardehi as New Plant Manager.
Plant Veda secured its new home of a 25,000 square foot manufacturing facility in Delta, B.C., Canada and received its production license from the Canadian Food Inspection Agency for both the Canadian and export markets. The Company also successfully registered with the U.S. FDA for product importation.
“The Plant Veda team made remarkable progress in 2021 laying the foundations for a prosperous 2022,” said Sunny Gurnani, CEO of Plant Veda. “The initial phase one expansion of our new state of the art facility will allow for an annual production capacity of 2.5M litres, enabling us to further develop our current distribution channels while establishing new ones.”
“In 2022 we have defined goals, including additional product launches, completion of phase one capacity expansion, and accelerated revenue growth. We have always faced production constraints in our previous location, which limited growth. Now, thanks to the hard work of the entire Plant Veda team, 2022 is expected to allow the expansion we have been planning for. We, again, thank our team, our partners and our supporters for all their assistance in 2021. We look forward to an exciting and prosperous 2022.”
About Plant Veda (CSE:MILK) (OTC:PLVFF) (XFRA:A3CS6B)
Plant Veda Foods Ltd. has a mission to accelerate humanity’s shift to a plant-based lifestyle. We remain clear in our goals, which is to improve the environment and humanity’s overall health through plant-based consumption. Our Company has succeeded in creating award-winning plant-based dairy alternatives, continuing shaking up the dairy-free market by creating unique, one-of-a-kind products that leave our customers forgetting about dairy to begin with.
Learn more at www.PlantVeda.com.
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To find Plant Veda products at a location near you, visit www.PlantVeda.com/pages/store-locations.
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Company Contact:
Aaron Wong, Director
Email: Aaron@PlantVeda.com
Number: 778-840-9664
Investor Relations:
Email: Investors@PlantVeda.com
Number: 778-383-6737
Media Contact:
Email: Media@PlantVeda.com
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of Plant Veda’s products in the dairy-alternative industry, in addition to the following: Potential outcomes from expanded production. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the dairy-alternative markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Company, nor shall there be any sale of securities in the United States or any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of the United States or any such state or jurisdiction.
FAQ
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