MEIJER INC. WILL OFFER VERY GOOD FOOD COMPANY PRODUCTS IN 180 STORES

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Expanded U.S. retail availability of premium steaks and original ribs

VANCOUVER, BC, June 23, 2022 /PRNewswire/ – The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or the “Company”), is pleased to announce further expansion of the retail in the United States through a new agreement with supermarket chain Meijer Inc. (Meijer). With 262 supercenters and grocery stores everywhere Michigan, Illinois, Indiana, Ohioand 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 in the United States.

Original Ribz and Very Good Steak from VERY GOOD are included in the deal with Meijer and will initially be offered in 180 locations.

Mathew Hall, interim co-CEO of VERY GOOD, commented on the company’s distribution deal with Meijer. “This listing in the U.S. retail environment represents significant progress for us. Our product portfolio of clean, plant-based alternatives has a strong track record of resonating with plant-based consumers as well as “with flexitarians. Given Meijer’s large and loyal customer base and significant Midwest, we see this as an ideal opportunity to drive new customer adoption.”

In VERY GOOD’s Q1 2022 financial press release, Hall discussed a strategy to stabilize, scale and optimize the business.

A 2022 market research published by Plant Based Food’s Association stated that plant-based meats represent a US$1.4 billion market opportunity starting in 2021. VERY GOOD is targeting this market opportunity with a differentiated approach – creating plant-based food options from whole food ingredients, without compromising taste and texture.

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 BUT VERY SIMPLE: TO GET MILLIONS OF PEOPLE TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM MAKE THE WORLD A WORLD OF GOOD. BY PROVIDING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE’RE HELPING THIS TYPE OF DIET BECOME THE STANDARD.

About Meijer Inc.

Meijer is aGrand Rapids, Mich.retailer that operates more than 262 supercenters and grocery stores acrossMichigan,Ohio,Indiana,Illinois,KentuckyandWisconsin. Privately owned and family owned since 1934, Meijer pioneered the “one stop shop” concept and has evolved over the years to include expanded fresh produce and meat departments, as well as pharmacies, full clothing departments, departments for pets, garden centers, toys and electronics.

ON BEHALF OF THE VERY GOOD FOOD COMPANY INC.

Matthew Hall
Interim Co-General Manager

Forward-looking statements

This press release contains “forward-looking information” within the meaning of applicable securities laws. Canada and “forward-looking statements” 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 (collectively, “forward-looking information”), for the purpose 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 can be identified by words such as “plans”, “proposed”, “expects”, “anticipates”, “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’s products and the benefits the company will waits to be drawn from Meijer’s inscription; as well as VERY GOOD’s beliefs in the attributes of its products, its differentiated approach to the plant-based market and its strong brand, its innovative products, its committed customers and its dedicated and talented employees. Forward-looking information is based on a number of factors and assumptions which were used in developing this information, but which may prove to be incorrect, including, but not limited to, material assumptions regarding the ability of the company to continue operating. ; the Company’s ability to manage recent personnel changes; and the company’s ability to successfully execute its updated business strategy outlined in its most recently filed interim MD&A for the quarter ended March 31, 2022available on www.sedar.com and www.sec.gov. The Company’s ability to execute its strategy may also depend on the Company’s ability to accurately forecast customer demand for its products and manage its current and future inventory levels, continued demand for VERY GOOD’s products, the continued growth in the popularity of meat substitutes and the food factory, no significant deterioration in general business and economic conditions, the successful placement of VERY GOOD’s products in retail stores and distribution in the food service channel, the the Company’s ability to remain listed on the Nasdaq, VERY GOOD’s ability to successfully enter new markets, VERY GOOD’s ability to obtain necessary production equipment and human resources as needed, VERY GOOD’s relationships with its suppliers, distributors and third-party logistics providers, and management’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 as VERY GOOD cannot guarantee that such expectations will prove to be correct. The risks and uncertainties that could cause VERY GOOD’s actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information include, among others, the impact of uncertainties and risks associated with negative cash flow and future financing needs. to maintain and grow operations, limited history of operations and revenues and no history of profits or dividends, competition, risks relating to the availability of raw materials, risks relating to social media regulations, expansion of facilities, risks relating to to credit facilities, dependence on senior management and key personnel, labor availability, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, risks associated with third-party logistics providers, adverse publicity or consumer perception, increased costs of being a United States public company, product liability and product recalls, intellectual property risks, co-manufacturing risks, expansion risks in United States; 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 complete analysis of the risks facing VERY GOOD, please consult the most recent annual information form of VERY GOOD filed with the Canadian securities authorities at www.sedar.com and as an attachment to Form 20-F filed with the SEC on May 26, 2022 and available on 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 as a result of new information, future events or otherwise, except as required by law. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

Neither the Nasdaq Stock Market LLC, nor the TSX Venture Exchange, nor the SEC nor any other securities regulator has approved or disapproved of the contents of this press release.

Neither Nasdaq, 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 the adequacy or accuracy of this press release.

SOURCE The Very Good Food Company Inc.

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