TORONTO, July 23, 2021 /CNW/ - GreenSpace Brands Inc.
("GreenSpace" or the "Company") (TSXV: JTR), a leader within the
organic and plant-based food industry, announces that it has
notified customers in the United
States and Canada of its
intent to increase its selling prices across much of its North
American portfolio of brands effective no later than the end of
September 2021. The increases are necessary to offset input
cost increases over the past number of years and to enable the
Company to generate competitive gross margins.
"Our businesses have not passed along the effects of commodity
and other input cost increases to our customers over the last four
to five years. Even with our best efforts to mitigate cost
increases across our business, like many other food producers, we
are now compelled to increase prices to our customers to reflect
rising input costs beyond our control. By so doing we are
better able to protect our high-quality standards, protect the
value of our brands and drive innovation over time," says
Shawn Warren, President and CEO of
GreenSpace Brands Inc.
ABOUT GREENSPACE BRANDS INC.:
GreenSpace is a North
American organic and plant-based food business that develops,
markets and sells premium food products to consumers within the
fast-growing natural and organic food categories. GreenSpace owns
LOVE CHILD ORGANICS, a producer of 100% organic food for infants
and toddlers made with natural and nutritionally-rich ingredients,
CENTRAL ROAST, a clean snacking brand featuring a wide assortment
of organic nut and seed mixes and GO VEGGIE, one of the pioneers
and leaders in the US plant-based dairy market. All brands
are wholly-owned and are sold in a variety of online, natural and
retail grocery locations.
For more information, visit www.greenspacebrands.ca and
GreenSpace's filings are also available at
www.SEDAR.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release may contain forward-looking
statements or "forward-looking information" within the meaning of
applicable Canadian securities laws ("forward-looking statements").
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or describes
a "goal", or variation 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 statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks and uncertainties, All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, certain
factors are beyond the control of the Company, including, but not
limited to, the failure of third parties to comply with their
obligations to the Company or its affiliates; the impact of new and
changes to, or application of, current laws and regulations;
critical accounting estimates and changes to accounting standards,
policies, and methods used by the Company; the occurrence of
natural and unnatural catastrophic events and claims resulting from
such events; and risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities to
try to limit the pandemic, including travel restrictions, border
closures, nonessential business closures, quarantines,
self-isolations, shelters-in-place and social distancing; and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements, including the risks identified in the
Company's disclosure documents. There can be no assurance that such
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking statements. All
forward-looking statements contained in this press release is given
as of the date hereof and is based upon the opinions and estimates
of management and information available to management as at the
date hereof. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE GreenSpace Brands Inc.
