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bettermoo(d) Announces Advanced Negotiations with Acquisition Target to Launch First Products to the European Market this Summer

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VANCOUVER, BC / ACCESSWIRE / June 11, 2022 /bettermoo(d) Food Corporation (CSE:MOOO ), (OTCQB:MOOOF ), (Frankfurt:0I50), (WKN:A3DNBE) (the "Company" or "bettermoo(d) Food"), is pleased to announce that its wholly-owned subsidiary, dairy alternatives brand, bettermoo(d) Holdings Corp. (" bettermoo(d) "), is in advanced stages of negotiations to acquire a European company that would allow bettermoo(d) to enter Europe's lucrative dairy alternatives market with the introduction of a branded line of plant-based dairy alternative products as early as this summer.

The Company has nearly completed negotiations to acquire this European dairy alternative company, and expects to update shareholders in the coming days of the completion of the acquisition. The formulation for the first products to be launched have been completed, using bettermoo(d)'s proprietary blend of herbs, specifically formulated to emulate the great taste of milk and traditional dairy products from the Alp regions of Switzerland, France and Austria. Once this company is acquired, bettermoo(d) expects to be able to launch its dairy alternative products in Europe this summer through the acquisition target's already existing distribution network. The Company is pleased with recent market reaction to ongoing developments, which has been reflected in the increased share price, and is excited to share this news about an imminent entry into the European market.

The Austrian based company currently serves a local market in Austria, as well as the most heavily populated country in Europe, Germany. With a population of 83 million,[1] Germany is the largest market in Europe, with a high GDP and progressive buying trends for dairy replacements, and is the ideal target for a European launch with 10% of German consumers being plant-based eaters, the highest share of plant-based eaters among the European countries, with another 30% identifying as flexitarian.[2] Recent statistics show that milk consumption among Germans has fallen to a record low, as cow milk consumption across the country has halved in the past 50 years.[3][4] With a significant number of Germans having already made the shift to dairy free alternatives, projections indicate that sales of plant-based milk in Germany could reach $326 million by 2026, up from $187 million in 2020.[5]

bettermoo(d)-branded plant-based products will mark the first instance of the Company's product availability in Europe, and represents a significant opportunity to capitalize in one of the fastest growing vegan consumer populations. There is a significant amount of research supporting the Company's expansion into Europe, the most compelling being projections of a compound annual growth rate (CAGR) in the plant-based food market of 7.1 % across the continent between 2021 and 2026, with an estimated valuation of $2.22 million,[6] and a concurrent, astounding, CAGR of 10.1% and projected market value of US$16.7 billion by 2029 [7] in the related plant-based food market.

As a result of growing consumer consciousness surrounding health, environmental concerns, and compassion for animals, European consumer food trends indicate a growing shift toward vegetarianism and veganism across the continent. Within the last four years alone, the number of vegans in Europe has doubled from 1.3 million to over 2.5 million, a segment that represents 3.2% of the continent's total population - of this segment, 45.5% indicate that they would like to see more vegan food alternatives, including cheese substitutes.[8]

The Company's target market for its plant-based food and beverage line(s) is not limited to vegans but rather includes a broad spectrum of consumers, including flexitarians, lactose-intolerant consumers, and consumers looking for clean-label food and beverage options.

The Company is conscious and committed to providing consumers with quality, organic, and sustainably sourced plant-based dairy alternatives, and ultimately lead the way in an emerging plant-based food revolution.

" With the imminent completion of the acquisition and a subsequent launch of our products into Europe this summer, I believe bettermoo(d) is poised for massive growth. This continent presents a promising prospect for companies like bettermoo(d) that are driving a growing vegan food revolution. The German market looks to be the most lucrative and receptive area for us to launch, based on statistics and existing projections related Europe's plant base dairy alternative market. We view the entry into the German market as the next steps for a major European expansion," stated Nima Bahrami, CEO of bettermoo(d) Holdings.

ABOUT BETTERMOO(D) FOOD CORPORATION

bettermoo(d) Food Corporation is an innovative beverage company focused on delivering high quality products through online and in-store retail platforms. Bettermoo(d) Food Corporation utilizes social media to deliver educational experiences for their customer base while demonstrating - pioneering beverage technologies.

ON BEHALF OF THE BOARD of DIRECTORS

Steve Pear

Chief Executive Officer and Director

bettermoo(d) Food Corporation

For further information please contact:

Email: investors@bettermoodfoodcorporation.com
Website: www.bettermoo.com
Phone: 1-855-715-1865

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward looking statements and forward looking information (collectively, "Forward-Looking Statements") within the meaning of the applicable Canadian and U.S. securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the anticipated commercial production of Moodrink, are forward-looking statements. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

[1] https://www.destatis.de/EN/Themes/Society-Environment/Population/Current-Population/_node.html

[2] https://smartproteinproject.eu/plant-based-food-in-germany/

[3] https://www.iamexpat.de/expat-info/german-expat-news/milk-consumption-germany-falls-all-time-low

[4] https://www.instagram.com/p/Cen6pD7ofc1/?igshid=YmMyMTA2M2Y%3D

[5] https://www.statista.com/statistics/1285967/plant-based-food-ingredient-market-in-germany-by-application/

[6] https://www.marketdataforecast.com/market-reports/europe-dairy-alternatives-market

[7] https://www.globenewswire.com/news-release/2022/03/30/2412865/0/en/Europe-Plant-Based-Food-Market-Worth-16-7-Billion-by-2029-Exclusive-Report-by-Meticulous-Research.html

[8] https://www.globenewswire.com/news-release/2022/03/30/2412865/0/en/Europe-Plant-Based-Food-Market-Worth-16-7-Billion-by-2029-Exclusive-Report-by-Meticulous-Research.html

SOURCE: bettermoo(d) Food Corporation



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