The Company has been in the research and development phase with the co-packer for several months to ensure the facility is able to produce the quality and requirements for the Modern products, specifically for innovative items in the portfolio such as its Modern Crab Cake. "We have arguably some of the best quality/complex plant-based meat analogues on the market and remain steadfast to our commitment on quality standards." states
The global plant-based fish market is projected to surge at an impressive CAGR of around 28% from 2021 to 2031, to top a valuation of
The partnered co-packing facility is a leader in innovation for the plant-based food industry having worked with fortune 500 companies experiencing proven success with their development and production processes. The facility is segregated into two locations having an innovation centre and a pilot processing plant. Having received its certifications for CFIA, Halal, Organic, and HACCP, the Company has found the partner successfully meets the criteria for Food Quality standards. The facility also allows access to additional services including nutritional labelling, packaging evaluation, shelf-life testing, and product formulation.
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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. 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, 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.
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1 https://vegconomist.com/market-and-trends/plant-based-seafood-market-to-skyrocket-increasing-13x-to-us1-3-billion-in-next-decade/ |
2 https://www.forbes.com/sites/lanabandoim/2020/06/03/plant-based-fish-is-the-new-vegan-trend/?sh=7b362b782ba7 |
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