The Very Good Food Company Launching Pilot Program in China
October 14 2021 - 6:00AM
Business Wire
- VERY GOOD to pilot launch its flagship brand, The Very Good
Butchers, in China to reach a new consumer set in early 2022.
- The enhanced distribution will allow VERY GOOD to enter a new
market, widen its consumer base, and continue making its carefully
crafted plant-based meats accessible to all.
The Very Good Food Company Inc. (TSXV: VERY.V) (NASDAQ: VGFC)
(FSE: 0SI) ("VERY GOOD" or the "Company"), a leading
plant-based food technology company, today announced its plans for
a pilot program in China for the beginning of 2022. VERY GOOD will
offer its carefully crafted plant-based meats under its flagship
brand: The Very Good Butchers.
“We’ve seen an increase in consumer demand for plant-based foods
in China and we’re thrilled to be introducing our plant-based meat
alternatives on a different continent,” said Mitchell Scott,
co-founder and CEO of The Very Good Food Company. “We’re guided by
making plant-based eating accessible and approachable for all, and
this is a significant milestone for us as we look to increase
distribution to a brand-new geographic region and reach a new
consumer base. This move is the perfect next step for us as we’re
continuing to grow and become a global brand, accessing new markets
and raising the plant-based meats bar all around the world – from
North America, to Europe, and now Asia.”
VERY GOOD is working with partners in China to assess the
importation of its products and supply chain logistics to execute a
successful plan. The Company is executing on its larger growth
strategy and the new pilot launch in China is only the
beginning.
Marketing & Investor Relations Update
VERY GOOD today also announced that it has retained TD Media,
LLC d/b/a Life Water Media ("Life Water Media") to provide
investor relations services pursuant to a campaign agreement (the
"Agreement"). Life Water has been engaged to assist with
expanding investor awareness of VERY GOOD and the Company’s
business through digital marketing campaigns.
The Agreement provides for an initial term from October 12, 2021
to November 10, 2021 following completion of which VERY GOOD and
Life Water have the option to mutually extend the Agreement, unless
otherwise terminated in accordance with its terms. Cash
compensation for Life Water's services will be USD$100,000. Life
Water is arm's length to VERY GOOD and has no interest, directly or
indirectly, in VERY GOOD or our securities and has no right or
intent to acquire such an interest. Life Water does not hold shares
of VERY GOOD and will not receive any securities of VERY GOOD as
compensation. VERY GOOD will pay any compensation owing to Life
Water from available working capital.
About The Very Good Food Company
Inc.
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, 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 information 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, 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 information may be identified by words such as
"proposed", "expects", "intends", "may", "will", and similar
expressions. Forward looking information contained or referred to
in this news release includes statements relating, but not limited
to, the nature of the planned pilot program in China, the timing of
such program and the opportunities and benefits to be derived
therefrom, VERY GOOD’s plans beyond such pilot program as well as
the expectations for VERY GOOD’s marketing and investor relations
campaigns. 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 VERY GOOD’s
ability to launch the pilot program including within the intended
timeframe, macro-economic conditions, 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 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 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 filed with the SEC 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 on which it is made and, except as may be required by
applicable securities laws, VERY GOOD disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
None of the Nasdaq, 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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version on businesswire.com: https://www.businesswire.com/news/home/20211014005330/en/
Investor Contact
Mitchell Scott Chief Executive Officer The Very Good Food
Company Inc.
Kevan Matheson Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com Phone: +1 855-472-9841
Media Contact
Aubrey Martin Rachel Kay Public Relations Email: aubrey@rkpr.net
Phone: +1 (858) 922-1576
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