Modern Plant Based Foods Begins Process For Expanding Production In Canada To Meet Demand For Snack From The Sun Products

June 23, 2022

VANCOUVER, BC, June 23, 2022 /CNW/ - Modern Plant Based Foods Inc., (CSE: MEAT) ("Modern Plant Based Foods") or (the "Company"), is in the process of expanding production in Canada to meet the unprecedented demand for its Snacks from the Sun products. The Company currently produces its product line in the United States before redistributing in Canada. Following the launch of the of its Popped Chips and Puffs, Modern Plant Based Foods has seen unprecedented demand of the Snacks from the Sun product line in Canada. As part of the company's long-term plan after a successful launch of the product management would set out to expand its production line into Canada as well. By having additional manufacturing in Canada, the Company will have significant increase in margin with savings on transport, freight costs, and duties.

Modern Plant's Snacks from the Sun 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.

"Our recent successful launch of Snacks from the Sun in Canada shows there is a great market for our products wherever we go. Similar to what we saw in the United States, more and more households are recognizing the benefits that come from incorporating tasty, healthy and low-processed plant-based options into their diets. Over the past years our brand has become more and more recognizable, making it easier for us to get into retailers and distributors alike and over the coming period we expect to be on a lot more shelves making our need for a production facility for Snacks from the Sun in Canada a logical step in the near future. With growth in all our lines of products we feel this year has the chance to be a record breaking year for Modern Plant Based Foods" states chief executive officer, Avtar Dhaliwal.

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; 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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