Rritual Superfoods Announces May Purchase Orders

Rhea-AI Summary

Rritual Superfoods Inc. has announced receiving purchase orders amounting to CAD $306,000 in late May, signaling a successful launch of its products. As the company expands its distribution in the U.S., it aims for a sales run rate of CAD $1,300,000 monthly by year-end, supported by its sales strategy targeting major retailers. Rritual's offerings, including a unique mushroom blend, are all USDA-certified organic. The global functional food market is projected to reach $275 billion by 2025, highlighting significant growth potential.

Positive

• Received purchase orders totaling CAD $306,000, indicating strong initial demand.
• Targeting a monthly run rate of CAD $1,300,000 by end of 2021.
• Plans to distribute in 6,000 stores and 20,000 points of distribution in the U.S.
• Product offerings are USDA-certified organic, appealing to health-conscious consumers.

Negative

• None.

VANCOUVER, BC, June 10, 2021 /PRNewswire/ - Rritual Superfoods Inc. ("Rritual" or the "Company") (CSE: RSF) (FSE: 0RW) (OTC: RRSFF) is pleased to announce that the Company has received purchase orders totaling CAD $306,000 in the last week of May, with goods now shipping to customers. 

"We are extremely excited to have had such a strong launch in our first month of full-scale commercial operations," said Rritual CEO, Mr. David Kerbel. "We fully expect that these initial orders from our cornerstone retailers will establish Rritual products on shelf with regular re-orders to follow. As we establish our distribution foot-print we will continue to execute our marketing strategies to support our retail partners."

Rritual has scaled its production to meet growing demand, with a sales and a marketing strategy targeting major retailers in Mass, Food & Drug, and Grocery across the USA in 2021. The Rritual Sales Team is in active discussion with a number of target retailers and will provide updates as new retail accounts are onboarded. Based on our projected distribution guidance of 6,000 stores and 20,000 points of distribution by the end of 2021 we expect to achieve a monthly run rate in the United States of CAD $1,300,000 achieving approximately 31-42% blended margins.

Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual's proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.

About Rritual

Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. The company is poised to dominate a segment where demand and sales are growing exponentially. Under the executive leadership with over 100 years of CPG pedigree, Rritual is launching in North America in Q2 2021 as the company positions itself as a leader in the functional health and wellness industry. Rritual's superfood elixirs can be found online at www.rritual.com.

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Functional Foods Market

According to Grandview Research*, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.

*https://www.grandviewresearch.com/press-release/global-functional-foods-market 

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

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Rritual's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the Company's plans to leverage third party manufacturing and logistics, the Company's broader retail distribution plans and the Company's other plans, focus and objectives.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rritual's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under "Forward-Looking Statements" and "Risk Factors" in the final long form prospectus of the Company dated February 26, 2021 and available under the Company's profile on SEDAR at www.sedar.com. Rritual undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rritual to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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SOURCE Rritual Superfoods Inc.

FAQ

What purchase orders did Rritual Superfoods Inc. receive in May 2021?

Rritual Superfoods Inc. received purchase orders totaling CAD $306,000 in late May 2021.

What is Rritual's expected monthly run rate by the end of 2021?

Rritual expects to achieve a monthly run rate of CAD $1,300,000 by the end of 2021.

How many stores does Rritual plan to distribute its products in?

Rritual plans to distribute its products in 6,000 stores and 20,000 points of distribution across the U.S.

What type of products does Rritual offer?

Rritual offers USDA-certified organic products, including a proprietary mushroom blend that supports gut health.

What is the growth projection for the global functional food market?

The global functional food market is projected to reach $275 billion by 2025, growing at 7.9% annually.