The Very Good Food Company Announces New Innovative Products for Retail Release
26 October 2021 - 10:00PM
Business Wire
- The Very Good Butchers to launch plant-based Butcher’s Select
Spicy Meatballs and Very Good Steak duo.
- These new innovative product offerings will broaden VERY GOOD’s
product range in the plant-based meat market.
The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V)
(FSE: 0SI) ("VERY GOOD" or the "Company"), a leading plant-based
food technology company, today announced two delicious additions to
an already innovative line of bean and vegetable based meats in the
form of Butcher’s Select Spicy Meatballs and The Very Good Steak
for retail and e-Commerce.
After seeing overwhelming demand for the NEXTY Award winning
Butcher’s Select Mmm...Meatballs, the Spicy Meatballs are an
addition that pack a flavorful punch, and more than a little heat.
The original plant-based meatballs, winners of the NEXTY Best New
Frozen Product category, have entered the market as a flavorful
alternative to not only plant-based, but also traditional meat
products in the natural food space.
The Very Good Butchers Steak is ready to compete in a nascent
segment of the plant-based meat alternative category by tackling
more sophisticated whole meat muscle products such as strip loin
and fillets. It delivers meaty flavor with every shiitake mushroom
and beet filled bite, featuring a mouthwatering blend of herbs and
spices in a new two-pack product format for double the
deliciousness. Previously only available online, the Steak along
with the new Spicy Meatballs have been scaled and will soon become
available to purchase in retail.
“After the release of the Butcher’s Select line, we were
thrilled by the high demand we received from the Mmm...Meatballs”
said Mitchell Scott, co-founder and CEO of The Very Good Food
Company. “The popularity of these products further proves what we
already know: shoppers are craving delicious alternatives for all
their favorite meat products, not just sausages and burgers.
Winning the NEXTY Award for best frozen product with the
Mmm...Meatballs confirmed that consumers want more variety that
tastes like the ‘real’ thing. Additionally, as one of just a few
plant-based steaks on the market, and even fewer available in
stores, we’re driving home our mission of accessible plant-based
options that actually taste great.”
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 anticipated retail launch of the Butcher’s Select Spicy
Meatballs and Very Good Steak duo, the attributes of such products
including their taste and nutritional properties, and the products’
ability to compete in the plant-based meat alternative market.
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 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 Form F-10 filed with the SEC and is 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 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/20211026005472/en/
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
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