Company Also Announces First Purchase Order for California-based Online Grocer - GTFO It's Vegan
Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("Very Good" or the "Company") announced today a new partnership with Boulder, Colorado-based natural food and beverage brokerage, Green Spoon Sales ("Green Spoon"), to accelerate the plant-based food technology company's reach into grocery and retail across the U.S.
Since launching its line of plant-based meat alternatives under The Very Good Butchers brand, the Company has seen tremendous interest from natural foods and other retailers representing hundreds of stores across the U.S. in addition to a record pace of direct online orders. The Company also recently secured it's first U.S. sales order from the California-based online vegan grocery store, GTFO It's Vegan; marking the first in its relationship with the sustainable grocer.
"The partnership with Green Spoon is poised to significantly boost Very Good's wholesale retail distribution in the U.S. which is a key component of our 2021 growth strategy," said Mitchell Scott, CEO of The Very Good Food Company. "As consumers increasingly gravitate toward plant-based proteins, we have received incredible U.S. demand for our innovative, nutritious and delicious products. We are excited to partner with a like-minded company like Green Spoon to help us reach even more consumers at the store-shelf level in regional and nationwide grocers and other brick-and-mortar retailers. We are currently in advanced conversations with several large and mid-sized chains representing 800+ retail stores to carry our products, so we are well positioned for scalable growth in the U.S. this year."
"This partnership incorporates everything we stand for as innovators in the natural food and beverage industry," said Green Spoon Sales CEO and Co-Founder Kari Pedriana. "The plant-based trend has seen tremendous growth and exciting innovation. Together, Green Spoon Sales and The Very Good Food Company are reshaping the future of foods available in the marketplace and bringing the highest quality products to grocery shelves and consumers' homes."
Very Good recently announced the commission of its first production line at its 45,000 square foot facility in Vancouver, British Columbia. The Rupert facility is enabling the increased production of its low-processed, plant-based meat alternatives product line, allowing the company to meet high demand while expanding its footprint in Canada and the U.S.
Very Good today also announced that it has retained KCSA Strategic Communications ("KCSA"), a leading New York City-based communications firm. KCSA and VERY's management team will create a comprehensive, strategic communications program to lead the Company's public and investor relations programs. For its services, KCSA will receive US$22,000 per month. The term of the engagement will be initially six months and then ongoing on a month-to-month basis. The Company has the right to terminate the relationship with KCSA on 30 days' notice.
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About The Very Good Food Company Inc.
The Very Good Food Company Inc. is an emerging plant-based food technology company. Our mission is to use progressive food technology to create plant-based meat and other food products that are delicious while maintaining a wholesome nutritional profile. To date we have developed a core product line under The Very Good Butchers brand.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. 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 news release.
About Green Spoon Sales
Founded in 2010, Green Spoon Sales is a natural food and beverage brokerage that represents the most disruptive and emerging consumer packaged goods in the industry. Headquartered in Boulder, Colorado, Green Spoon works with like-minded national brands across 9 US regions. The company helps brands gain access to retail stores and shelf space, in addition to driving sales through promotions. The company is dedicated to providing an ethically valued business that positively impacts people, the community, and the consumer-packaged goods industry. To learn more, visit www.greenspoonsales.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information. Such forward-looking information is provided 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, but is not limited to the benefits Very Good expects to derive from its partnership with Green Spoon including a boost to its retail distribution in the United States, the Company's advanced conversations with several other large and mid-size chains representing 800+ retail stores and Very Good's positioning for scalable growth in the United States in 2021. 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, the Company 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. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including, without limitation, timely receipt of regulatory licenses, permits and approvals, current and future demand for Very Good's products. Other factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations, dilution, limited history of operations and revenues and no history of earnings or dividends, competition, economic changes and the impact of and risks associated with the ongoing COVID-19 pandemic.
The Very Good Food Company
Mitchell Scott
Chief Executive Officer and Director
Kevan Matheson
Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com
Phone: +1 855-472-9841
Investor Contact:
Phil Carlson / Erika Kay
KCSA Strategic Communications
Email: VERY@kcsa.com
Phone: 212-896-1233
Media Contact:
Anne Donohoe
KCSA Strategic Communications
Email: VERY@kcsa.com
Phone: 212-896-1265
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