The Very Good Food Company Butchers ‘First Bean’ at Rupert Facility

April 06, 2021
Plant-Based Food Company Commissions First Production Line at Vancouver-based Facility

Vancouver, British Columbia – April 7, 2021 – The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company") announced today that it has commissioned its first production line - by butchering its very first bean - at the newly renovated Rupert production facility located in Vancouver, British Columbia. 

The plant-based food technology company took possession of the 45,000 square foot facility in January 2021 in order to increase production of its low-processed, plant-based meat alternatives product line to meet high customer demand from both its eCommerce and retail channels. Following minor facility upgrades and retrofitting to accommodate the production requirements, as well as, adding new capital equipment, the first production line is officially operational and the Company is conducting trial runs. This first production line will initially produce seven of VERY’s existing products already in the market. The Company is on track with the buildout of Rupert and plans to commission the second production line in late Q3 2021 with food production shortly thereafter.

The Rupert facility can produce up to 37,000,000 lbs of annualized product from the two production lines to be phased in over the year, representing an approximate increase of 2,690% over expected annualized production capacity of the VERY’s Victoria facility of 1,375,000 lbs per year.

Bringing the Rupert facility online, as scheduled, is a major milestone for our business,” said Mitchell Scott, CEO of VERY. “Once we are fully operational, we will be able to quickly and substantially scale our food production in order to meet consumer demand. Since launching our line of plant-based meat alternatives, we have seen tremendous interest from wholesale retailers and online consumers with orders increasing at record pace. The Rupert facility offers one of our strongest opportunities to optimize and increase production to reach a new level of revenue growth and market share for our Company. This production capability will prove vital as we look to expand our operational footprint in Canada and the U.S.

VERY today also announced the appointment of Ana Silva, the Company’s President, to its board of directors. The appointment was coordinated with VERY’s listing on the TSX Venture Exchange.

About The Very Good Food Company
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes, and sells a variety of plant-based meat and other food alternatives. Our mission is to employ plant-based food technology to create 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 investor relations:
Email: invest@verygoodbutchers.com
Phone: +1 855-472-9841

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 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. 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. 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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