Winner in the Best New Frozen Category at the NEXTY Awards
New Gluten-Free and Soy-Free Product Line Receives Non-GMO Certification
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2021) - The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY GOOD" or the "Company"), a leading plant-based food technology company, is pleased to announce that it has won a coveted NEXTY Award, a leading industry award which recognizes outstanding new products in the natural products industry.
VERY GOOD's mmm...Meatballs from the Company's new gluten-free and soy-free Butcher's Select line won the prestigious award in the Best New Frozen Product category. The Butcher's Select mmm...Meatballs were one of three finalists selected by a panel of natural products industry experts with winners announced on September 15, 2021. The NEXTY Awards is a biannual awards program created to recognize the pinnacle of excellence in the natural products industry, elevating impactful brands and products that inspire a healthy, sustainable future for people and the planet. It is a beacon to retailers on what brands and products will be on the minds of consumers and in demand. Past winners of NEXTY awards include well-known plant-based companies such as Miyoko's Creamery and Just Egg. Learn about the NEXTY Awards at www.nextyawards.com.
VERY GOOD is also pleased to announce that Butcher's Select product line up has achieved Non-GMO Project Verified certification by the Non-GMO Project, North America's only third-party verification for non-Genetically Modified Organism, or "Non-GMO" food and products. The achievement of Non-GMO status is a synergistic addition to the gluten and soy free ingredient profile of the Butcher's Select products and one that will resonate with consumers increasingly concerned with the quality of the ingredients on their plates. Non-GMO certification is becoming a standard that more and more retailers are looking for when listing new products on their shelves. The Non-GMO Project's Product Verification Program is the most rigorous and trusted in North America, with nearly 60,000 Verified products totaling US$30 billion in sales in 2019.
"VERY GOOD is proud to have won a leading industry award like the NEXTY award, which recognizes outstanding new products in the natural products industry. Butcher's Select is another success story for our Company that started with the R&D team's vision for and execution of a premium gluten-free and soy-free line of plant-based meat alternatives that does not compromise on taste," said Mitchell Scott, Co-Founder & CEO of The Very Good Food Company. "We are thrilled with the extremely positive reception these products have received in such a short period of time including the limited online release that we launched a few weeks ago, which sold out in less than a week. Now with non-GMO verification in hand, we are even more excited to introduce consumers to Butcher's Select both through our eCommerce platform and in the upcoming retail rollout."
The full line-up of Butcher's Select, consisting of five different gluten-free and soy-free products, has been launched on VERY GOOD's eCommerce platform at www.verygoodbutchers.com. The retail rollout of the product line will kick-off next month with Butcher's Select expected to be on the shelves of several retail locations in British Columbia by mid-October 2021, along with additional retailers to be added later in the year and into early 2022.
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.
This news release contains forward-looking information 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 achievement of the NEXTY Award and Non-GMO Project Verified status and the benefits expected to be derived therefrom; the timing and extent of the retail rollout for Butcher's Select; and the nutritional content and health attributes of the Butcher's Select products. 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 VERY GOOD's ability to maintain the Non-GMO Project Verified status for the Butcher's Select products, 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. 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.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Chief Executive Officer
The Very Good Food Company Inc.
Director, Investor Relations
The Very Good Food Company Inc.
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