Vancouver, British Columbia--(Newsfile Corp. - April 12, 2022) - The Good Flour Corp. (CSE: GFCO) (OTCQB: GFCOF) (FSE: 3KZ) ("GFCO") is pleased to provide an update on its new 7,000 square foot production facility in Burnaby. The City of Burnaby has recently issued a Certificate of Completion for the construction work at the facility, which is one of the final major milestones prior to operations, which are targeted to commence in May. In addition, GFCO anticipates receiving its fully automated production line from Paxiom Inc., of Montreal, Quebec, in the first week of June, and aims to be operational, post validation, by July of this year.
"I am pleased to that the company is progressing on all levels with the completion and setup of our new gluten-free facility in Burnaby, BC," explained Matthew Clayton, CEO. "We anticipate having our dry-goods manufacturing commence during May and will be utilizing our current semi-automated equipment and production line."
Once operational, the automated production line from Paxiom Inc. will increase GFCO's output by a multiple of eight to ten times depending on the product sku, and produce up to 2500 bags an hour. GFCO expects that a single shift will be able to generate an annual $5 million retail value in product with a single daily shift and an annual $10 million retail value in product with two daily shifts. This will greatly expand GFCO's ability to serve and expand its foodservice and retail clients in the Canadian and United States markets. GFCO will also continue to operate from its current production facility, but will make equipment changes and focus fully on its baked line of gluten-free buns and pizza shells for its growing customer base.
Paxiom Group Inc. designs and manufactures packing machineries. Paxiom offers a range of machineries for filling, bagging, wrapping, labeling, capping, cartoning, end of line case packing, and turnkey solutions. Paxiom Group serves customers worldwide. For additional information on Paxiom Inc. please refer to www.paxiom.com.
About The Good Flour Corp.
GFCO's mission is to provide a gluten-free, allergen free, hassle-free all-purpose baking flour blend that allows individuals with gluten and other food allergies to enjoy life without giving up their favorite foods or settling for low-quality alternatives. GFCO also provides gluten and allergen free fried chicken batter, fish & chip batter, pizza & pasta mix, tempura batter, pancake and waffle blend, cake mix and pizza crusts.
For additional information on The Good Flour Corp. please refer to www.goodflour.co.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events related to GFCO that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the timeline for completion of the new production facility, the timeline for delivery of the automated production line, estimates of future production capacity, demand for GFCO's products, GFCO's future sales and business objectives.
In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the timely receipt of regulatory approvals; the ability to source ingredients; the ability to attract qualified management and staff; the ability to effectively expand manufacturing and production capacity; the success of market initiatives and the ability to grow brand awareness; the ability to obtain retail partners to distribute Company's products; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners and GFCO will continue to have access to financing until it achieves profitability. While GFCO considers these assumptions to be reasonable, they may be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; risks associated with supply chain for machinery and equipment; litigation, availability of key product ingredients; legislative, environmental and other judicial, regulatory, political and competitive developments; failure to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company's products; failure to attract, maintain and expand relationships with key strategic restaurant and food service partners; changing consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; failure to attract qualified management and staff, labour disputes; and the additional risks identified in the "Risk Factors" section of GFCO's filings with applicable Canadian securities regulators.
Although GFCO has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, GFCO does not undertake any obligation to publicly update forward-looking information.
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