The Very Good Food Company Shares Corporate Video Update
The Very Good Food Company (NASDAQ: VGFC) recently shared a corporate video update featuring CEO Mitchell Scott, highlighting growth in production capability and wholesale retail distribution. The company plans to increase its production capacity to 60,000 pounds per day in Q1 2022, responding to rising consumer demand for plant-based products. Currently, VGFC's products are available in 1,060 stores across 15 U.S. states, with orders soaring to over 55,000 by August 2021.
- Plans to increase production capability to 60,000 pounds per day by Q1 2022.
- Currently available in 1,060 stores across 15 states.
- Fulfilled over 55,000 orders by August 2021, a significant increase from the previous year.
- Potential reliance on continued strong demand for products could be a risk.
- Forward-looking statements indicate uncertainty regarding future performance and market positioning.
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CEO and Co-Founder
Mitchell Scott shares a video outlining VERY GOOD’s growth and development. - Highlights include increase in production capability at facilities and growth in its wholesale retail base for The Very Good Butchers products.
Of particular note were announcements of increased wholesale distribution across the
Seeing the
The full video is available online at https://youtu.be/knHTQQHd9po.
About
OUR MISSION IS LOFTY, BADASS 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.
Forward-Looking Information
This news release contains 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, and applicable Canadian securities laws, 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. Any such forward-looking statements and information may be identified by words such as “plans”, “proposed”, “expects”, “anticipates”, “intends”, “estimates”, “may”, “will”, and similar expressions. Forward-looking statements contained or referred to in this news release includes statements relating, but not limited to, the expected further expansion of retail distribution and increases in production capacity at the Rupert and Patterson facilities including the timing therefor. These forward-looking statements are 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 availability of sufficient financing on reasonable terms to fund VERY GOOD’s capital and operating requirements, the continued strong demand for VERY GOOD’s products, the successful placement of VERY GOOD’s products in retail stores and continued e-Commerce growth, VERY GOOD’s ability to successfully enter new markets and manage its international expansion, VERY GOOD’s ability to increase production capacity and obtain the necessary production equipment, the availability of labour as well as the accuracy of construction schedules and cost estimates for the commissioning of production lines at VERY GOOD’s Rupert and Patterson facilities and the timely receipt of required permits, VERY GOOD’s relationship with its suppliers, distributors and third-party logistics providers, and the Company’s ability to position VERY GOOD competitively. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements 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 the ongoing COVID-19 pandemic, 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, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation. 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 registration statement on Form F-10 filed with the
None of the Nasdaq,
View source version on businesswire.com: https://www.businesswire.com/news/home/20211103005460/en/
For further information, please contact:
Chief Executive Officer
Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com
Phone: +1 855-472-9841
Source:
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