The Very Good Food Company Receives Full Approval to List on the TSX Venture Exchange

Vancouver, British Columbia--(Newsfile Corp. - March 12, 2021) - The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company") is pleased to announce that it has received final approval from the TSX Venture Exchange ("TSXV") to list its shares on the TSXV effective as of the open of market on March 17, 2021.

The Company's trading symbol "VERY" will remain unchanged and shareholders will not be required to take any action in connection with the listing on the TSXV. The Company's shares will continue to be listed in the United States on the OTCQB under the symbol "VRYYF" and on the Frankfurt stock exchange under the symbol "0SI". The last day of trading of the Company's shares on the Canadian Securities Exchange will be March 16, 2021.

Mitchell Scott, CEO commented: "We are very excited to be listing on the TSXV. Our Rupert (Vancouver) facility is currently being commissioned with food production planned to commence in the coming weeks, VERY will be soon be able to meet the growing demand for its products in both Canada and in the US and further drive revenue. As we continue to achieve our business objectives, listing on the TSXV will allow the Company to expand its shareholder base, enhance shareholder value and accelerate the Company's M&A initiatives in pursuing strategic opportunities."

The Company today also announced that it has engaged Trent Collett to provide communications and investor relations services for a monthly cash fee of $3,500. Mr. Collett has also been granted 25,000 options, exercisable at a price of $5.72 until March 8, 2024, which options will vest in equal quarterly tranches over the next 12 months.

About The Very Good Food Company

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.

For further information, please contact:

Mitchell Scott
Chief Executive Officer and Director

Investor Relations:

Edge Communications Group

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information. Such forward-looking statements or information are 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 listing of the Company's shares on the TSXV including the timing therefor; the delisting of the Company's shares on the Canadian Securities Exchange and the timing therefor; the benefits the Company expects to derive from the TSXV listing including expansion of its shareholder base, enhanced shareholder value and acceleration of the Company's M&A initiatives in pursuing strategic opportunities; the anticipated timing for commencement of food production at the Rupert facility; and the Company's belief as to the growing demand for its products and its ability to meet such demand. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Certain assumptions in respect of continued strong demand for our products; that added production capacity will enable us to increase our sales volume, that we do not experience material interruptions or supply chain failures as a result of COVID-19, our ability to retain key personnel, the availability of labour, and changes and trends in our industry or the global economy are material assumptions made in preparing forward-looking statements or information and management's expectations. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. 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 including the risk of disruption at the Company's facilities or in its supply and distribution channels. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.

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 statements or information contained in this news release are expressly qualified by this cautionary statement.

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