THE VERY GOOD FOOD COMPANY PRODUCTS NOW AVAILABLE ON A PROMINENT, MEMBERSHIP-ONLY WHOLESALE CHAIN'S ONLINE PLATFORM
On September 22, 2022, The Very Good Food Company (NASDAQ: VGFC) announced that seven of its best-selling products are now available in a Variety Pack through a major, membership-only wholesale chain in Canada. This listing enhances the accessibility of their plant-based food products, including Taco Stuff'ers and mmm Meatballs, reinforcing the company's focus on expanding its wholesale and foodservice channels. CEO Parimal Rana emphasizes that this move aligns with their strategic priority of increasing visibility and introducing their clean, plant-based products to a broader audience.
- Increased product visibility through a major wholesale chain.
- Potential to reach new customers and expand market presence.
- Focus on scaling wholesale and foodservice channels aligns with growth strategy.
- None.
Plant-Based Variety Pack with Seven of VERY GOOD's Best-Selling Products Included in Listing
VANCOUVER, BC, Sept. 22, 2022 /PRNewswire/ - The VERY GOOD Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (VERY GOOD; or the "Company") is pleased to announce that seven of its best-selling Very Good Butchers products have become available for sale online in a Variety Pack with a major, membership-only wholesale chain. The arrangement significantly increases the availability of VERY GOOD's natural, plant-based food products for Canadian consumers.
The Variety Pack contains two packages of each product, including the Taco Stuff'er, Very Good Pepperoni, the award-winning mmm Meatballs, the Flippin Burger, Cajun Sausage, Breakfast Sausage and the Bratwurst Sausage.
Parimal Rana, CEO of VERY GOOD, commented: "Greater availability across diverse North American venues is our strategic priority. Our Variety Pack with this wholesaler will put our offering in front of a new audience and is a great opportunity to acquaint consumers with The Very Good Butchers clean, plant-based products."
This arrangement is aligned with the Company's strategy of focusing its efforts on scaling wholesale and foodservice channels while at the same time enabling the customers to continue to enjoy the conveniences of online shopping by using this wholesaler's online platform. The size and reach of this particular wholesaler will increase the visibility of VERY GOOD's products across Canada through this arrangement.
The VERY GOOD Food Company Inc. is an emerging plant-based food technology company that produces nutritious and delicious plant-based meat and cheese products under VERY GOOD's core brands: The VERY GOOD Butchers and The VERY GOOD Cheese Co. www.verygoodfood.com.
OUR MISSION IS LOFTY BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE'RE HELPING THIS KIND OF DIET BECOME THE NORM.
ON BEHALF OF THE VERY GOOD FOOD COMPANY INC.
Parimal Rana
Chief Executive Officer
Phone: 855 472-9841
This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Exchange Act of 1934, as amended (collectively referred to as "forward-looking information"), for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking information may be identified by words such as "plans", "proposed", "expects", "anticipates", "intends", "estimates", "may", "will", and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not limited to the new listing with the major, membership-only wholesale chain including the product mix in the Variety Pack being offered as well as the benefits the Company expects to derive from the listing, including increased availability of VERY GOOD's products and offering to a new audience, and the Company's strategy of focusing its efforts on scaling wholesale and foodservice channels. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to, material assumptions with respect to the Company's ability to continue as a going concern. The Company's ability to execute on its strategy may also depend on the Company's ability to accurately forecast customer demand for its products and manage its current and future inventory levels, continued demand for VERY GOOD's products, continued growth of the popularity of meat alternatives and the plant-based food industry, no material deterioration in general business and economic conditions, the successful placement of VERY GOOD's products in retail stores and distribution in the food service channel, the Company's ability to remain listed on the Nasdaq, VERY GOOD's ability to successfully enter new markets, VERY GOOD's ability to obtain necessary production equipment and human resources as needed, VERY GOOD's relationship with its suppliers, distributors and third-party logistics providers, and management's ability to position VERY GOOD competitively. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because VERY GOOD can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of VERY GOOD to differ materially from those expressed or implied in such forward-looking information include, among others, the impact of, uncertainties and risks associated with negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, competition, risks relating to the availability of raw materials, risks relating to regulation on social media, expansion of facilities, risks related to credit facilities, dependence on senior management and key personnel, availability of labor, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, risks related to third party logistics providers, unfavorable publicity or consumer perception, increased costs as a result of being a United States public company, product liability and product recalls, risks related to intellectual property, risks relating to co-manufacturing, risks related to expansion into the United States; taxation risks, difficulties with forecasts, management of growth and litigation as well as the risks associated with the ongoing COVID-19 pandemic. For a more comprehensive discussion of the risks faced by VERY GOOD, please refer to VERY GOOD's most recent Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com and as an exhibit to the Form 20-F filed with the SEC on May 26, 2022 and available at www.sec.gov. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date of this news release. VERY GOOD undertakes no obligation to publicly update or revise any forward-looking information whether because of new information, future events or otherwise, except as otherwise required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
None of the Nasdaq Stock Market LLC, TSX Venture Exchange, the SEC or any other securities regulator has either approved or disapproved the contents of this news release.
None of the Nasdaq, the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), the SEC or any other securities regulator accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE The Very Good Food Company Inc.
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