Expanded retail availability in the US of very good quality steaks and authentic ribs
Vancouver, British ColumbiaAnd the June 23, 2022 /CNW/ – The Very Good Food Company Inc. is pleased to (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or “the Company”) announces further expansion of its retail business in the United States through a new agreement with supermarket chain Meijer Inc. (Meijer). With 262 Super Centers and Grocery Stores around MichiganAnd the IllinoisAnd the IndianaAnd the OhioAnd the WisconsinMeijer’s strong presence in the Midwest represents significant progress toward VERY GOOD’s goal of expanding its brand and offering products in every major city across United State.
The agreement with Meijer includes VERY GOOD’s Originals Original Ribz and Very Good Steak, which will initially be offered at 180 locations.
Matthew Hall, Interim Co-CEO with VERY GOOD has commented on the company’s distribution agreement with Meijer. “This listing in the US retail environment represents an important advancement for us. Our range of clean, plant-based alternatives has a strong track record that resonates with factory consumers as well as with flexible employees. Given Meijer’s large, loyal and important customer base in the Midwest We see this as an ideal opportunity to generate new customer adoption.”
In the first quarter of VERY GOOD’s First, the 2022 financial press release, Hall discussed strategy for stabilization, appropriate scaling, and business improvement.
2022 market study Published by the Vegetarian Food Association reported that vegetarian meat represents a 1.4 billion US dollars Market opportunity from 2021. VERY GOOD is targeting this market opportunity with a different approach – by creating vegan food options from whole food ingredients, without compromising taste and texture.
ABOUT VERY GOOD Food Company Inc.
VERY GOOD Food Company is a vegan food technology startup that produces nutritious and delicious vegan cheese and meat products under VERY GOOD’s core brands: The VERY GOOD Butchers and The VERY GOOD Cheese Co. www.verygoodfood.com .
Our mission is noble yet beautifully simple: Get millions of people to rethink their food choices while we help them make the world a better world. By offering highly delicious and nutritious vegan food options, we are helping this type of diet go natural.
About Meijer Inc.
Major is a file Grand Rapids, Michigan.– Retailer operating in over 262 premium malls and grocery stores across MichiganAnd the OhioAnd the IndianaAnd the IllinoisAnd the Kentucky And the Wisconsin. A privately owned and family-run business since 1934, Meijer has pioneered the concept of “one-stop shopping” and has evolved over the years to include expanded departments of fresh produce and meat, as well as pharmacies, comprehensive clothing departments, pet departments, garden centers, toys and electronics.
On behalf of VERY GOOD FOOD INC.
This press release contains “forward-looking information” within the meaning of the applicable securities laws Canada and “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Act of 1934, as amended (together, “forward-looking information”), are intended to provide information about Management’s current expectations and plans for the future. Readers are cautioned that reliance on this information may not be appropriate for other purposes. Forward-looking information may be identified by words such as “plans,” “proposed,” “expects,” “expects,” “intends,” “estimates,” “may,” “will,” and similar expressions. Forward-looking information contained or referred to in this press release includes, but is not limited to: the new distribution agreement with Meijer including the number of stores expected to carry VERY GOOD products and the benefits the company expects to derive from the Meijer listing; In addition to VERY GOOD’s beliefs regarding the attributes of its products, differentiated approach to the plant-based marketplace, strong branding, innovative products, engaged customers, dedicated and talented employees. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but may be incorrect including, without limitation, material assumptions regarding the Company’s ability to continue as a going concern; The company’s ability to manage recent personnel changes; And the company’s ability to successfully implement its updated business strategy described in the most recent interim management discussions and analyzes submitted to it for the three months ended March 31, 2022, available at www.sedar.com and www.sec.gov. A company’s ability to execute its strategy may also depend on a company’s ability to accurately forecast customer demand for its products and manage current and future inventory levels, continued demand for VERY GOOD products, and the continued growth in popularity of meat and plant substitutes. – Existing food industry, no physical deterioration in general business and economic conditions, successful placement of VERY GOOD products in retail and distribution stores in the food service channel, the company’s ability to remain listed on NASDAQ, very good ability to successfully enter new markets , VERY GOOD’s ability to source production equipment and human resources as needed, VERY GOOD’s relationship with its suppliers, distributors and third-party logistics providers, and management’s ability to be very competitively positioned. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it should not place undue reliance on forward-looking information because “Very Good” cannot give any guarantee that such expectations will prove correct. Risks and uncertainties that could cause actual results, performance or achievements of VERY GOOD to differ materially from those expressed or implied in this forward-looking information include, among other things, the impact of uncertainty, risks associated with negative cash flow and future financing requirements to maintain operations and its development, limited history of operations and revenues and no record of profits or profits, competition, risks related to availability of raw materials, risks related to regulation on social media, facilities expansion, risks related to credit facilities, dependence on top management and key personnel, labor availability, general business risks and general responsibilities, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, risks related to third party logistics providers, unfavorable advertising or consumer perception, costs as a result of being a United State General company, liability for products and product recalls, risks related to intellectual property, risks related to co-manufacturing, risks related to expansion in United State; Risks related to our acquisition strategy, tax risks, forecasting difficulties, growth management and litigation, as well as risks associated with the ongoing COVID-19 pandemic. For a more comprehensive discussion of the risks faced by VERY GOOD, please refer to the most recent annual information form from VERY GOOD submitted to Canadian securities regulators at www.sedar.com and as an exposition of Form 20-F submitted to the SEC on 26 May 2022 Available at www.sec.gov. The forward-looking information contained in this press release reflects the company’s current expectations, assumptions, and/or beliefs based on information currently available. Any forward-looking information speaks only as of the date of this press release. VERY GOOD undertakes no obligation to publicly update or revise any forward-looking information whether due to new information, future events or otherwise, except as otherwise required by law. The forward-looking information contained in this press release is expressly conditioned on this cautionary statement.
Neither Nasdaq Stock Market LLC, TSX Venture Exchange, SEC, or any other securities regulator has approved or rejected the contents of this news release.
Neither Nasdaq, the TSX Venture Exchange, the Regulatory Services Provider (as defined in the policies of the TSX Venture Exchange), the US Securities and Exchange Commission or any other securities regulator accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE The Very Good Food Company Inc.
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