Better Bears Foods Launches New and Improved Product and Packaging

January 6, 2022

OAKVILLE, ON, Jan. 6, 2022 /CNW/ - Better Bears Foods Inc. (Private) ("Better Bears" or the "Company"), is pleased to announce the commencement of shipping of its new and improved product and packaging under all SKU's (Mixed Berry, Tropical Citrus and Variety) into the market. This new product will be available in both traditional retail locations and the Company's direct to consumer channel.

As part of the product enhancements the newly created separate Canadian and US formulations provide enhanced taste, texture and shelf life along with superior nutritional facts compared to full sugar confectionery offerings.

Jeff O'Neill, President of the Company commented "We already have an amazing product, however, it is our ongoing goal to make incremental product improvements and we believe our new formulas deliver an amazing taste and texture experience that is nearly indistinguishable from conventional full sugar gummy candies but with a fraction of the sugar or calories. I can't believe it's not sugar!"

In addition to the newly created Canadian and US formulations, the company has also vastly improved its packaging. The new packaging locks in all the freshness of a great tasting gummy bear, while maintaining a sustainable stance by being fully recyclable and providing more shelf life and merchandising flexibility.

Lorenzo Di Nino, Vice President of Growth and Business Development, who leads the company's supply chain and growth initiatives added, "We have made great strides in our ability to deliver an improved speed to market and this latest enhancement to our portfolio is exciting as we continue to gain new points of distribution in the market."

About Better Bears Foods Inc.

Better Bears is an emerging plant-based healthier for you snack brand and formulations company. Its mission is to use progressive food technology and ingredients to create low sugar healthier for you snack products that are as delicious as their conventional full sugar alternatives. To date, Better Bears have developed a core product line of healthier for you gummy candy and have commercialized 3 SKU's of its gummy bears products with other candy types slated for launch in the coming months.

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 Company's partnership with CBM and the anticipated expansion of the availability of the Company's products across Canada.

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 demand for the Company's products; that future 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; regulatory changes in the Company's primary markets and the impact of and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company's contracted production 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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