/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, BC, April 28, 2022 /CNW/ – Modern Plant Based Foods Inc., (CSE: MEAT) (“Modern Plant Based Foods”) or (the “Company”), an award-winning plant-based food company is pleased to report a successful launch of the Snacks from the Sun popped chips brand across Canada. The popular popped chips have been accepted into an additional 130 stores after strategic partnerships with two key distributors in both Western and Eastern Canada.
“This is just the beginning for our expansion plans to increase our distribution for Snacks from the Sun. We have received rave reviews for the product and have significant meetings planned with distributors. The addition of 130 stores is just the cusp and the start of the potential growth potential we see in Canada,” states Avtar Dhaliwal, CEO of Modern Plant Based Foods.
The Company has plans to continue its distribution network both within Canada and the United States. Given historical growth in this segment of the snack category, and the trajectory for sweet and salty snacks, the Company believes it will see continued growth in 2022. As outlined in a recent report, “In 2020, the snack food market in Canada generated a total revenue of 9.8 billion U.S dollars (up by 1.3 billion U.S. dollars more than 2019, resulting in a significant increase in annual revenue).”
Modern Plant Based Foods’ Snacks from the SunTM “Popped Potato Crisps” are light and airy crisps made from all-natural potatoes, whole grains, and seasonings, then popped. The chips are vegan and free of gluten, cholesterol, and saturated fat. These vegan snacks come in six different flavours: sour cream and chive, sea salt, cracked pepper, tangy barbecue, salt and vinegar, and nacho cheese.
At the recent CHFA, Canadian Health Food Association Tradeshow, an event open exclusively to industry related professionals including retailers, brokers/distributors and manufacturers, the snacks received overwhelmingly positive feedback and interest for potential new distribution channels.
“After receiving tremendous feedback on the Snacks from the Sun popped chips at the CHFA event in Vancouver, we look forward to continuing our expansion plan into the snack category of retail stores. At the show, the Snacks from the Sun gathered significant interest from retailers, and we expect to be significantly adding to the number of Canadian retailers in the coming period,” states Cassidy McCord, Chief Corporate Officer of Modern Plant Based Foods.
About Modern Plant-Based Foods
Modern Plant-Based Foods is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups and vegan snacks. Our products are available at select restaurants and retailers across Canada including our own Modern Wellness Bars located in Vancouver. We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. We want people to feel good about the food they eat which is why we are deliberate in choosing ingredients free of soy, gluten, nuts and GMOs.
Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation that are not historical facts.
This news release includes certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the Company and the Company’s business and prospects; the Company’s objectives, goals or future plans; the Company’s sales growth, planned expansion, awareness of the Company’s brands, future sales and revenue growth, the availability of Modern Meat Products through GFS, and the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.