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VANCOUVER, BC, Aug. 14, 2021 /CNW/ - Modern Plant-Based Foods Inc., (CSE: MEAT) (" Modern Plant Based Foods ") or (the "Company "), an award-winning plant-based food company, announces that Modern Meat, its meat alternative division, will expand production of its plant-based meat alternatives through a co-packing arrangement with Trimpac Meat Company ("Trimpac"). The agreement opens a significant opportunity to ramp-up production of its Modern Burgers, Crumble and Meatballs.
"For months we have been flat out with production at maximum capacity to meet the explosive demand from consumers. Finally, we are proud to say we have come to an agreement that will increase production significantly of several of our core products and we should be able to handle this upcoming year's demand," stated Tara Haddad, Founder and CEO of Modern Plant-Based Foods. "With the additional capacity we can stay further ahead of the sales surge that we have seen as a result of our growth."
With over 35 years in the business Trimpac Meat Company provides 'Best in Class' Operation across Western Canada. The company is part of Sysco Specialty Meat Companies. Sysco has 26 meat companies across Canada (4) and the United States (22) with different capabilities and specialties. Trimpac is a Canadian Food Inspection Agency (CFIA) federally registered facility which requires daily on-site CFIA inspection of HACCP Hazard Analysis Critical Control Point food safety plan. The company recently achieved Safe Quality Food (SQF) Level 3 designation – the highest level of auditable food safety available. Trimpac has a segregated area to produce plant-based products without cross-contamination and are able to certify the process as Vegan through QA and QC mandates as directed by CFIA.
Based on the established agreement, Trimpac has committed to producing an additional 5,000 pounds of Modern Meat product each week to a maximum of 260,000 pounds per year. Actual production will be based on consumer demand for the Company's products.
"The move to use a local co-packer is important as we continue to see a rise in sales. Working with Trimpac will allow us to better service our growing consumer base in British Columbia, as well as dedicating more production capacity from our Modern Meat facility to produce our popular 'Crab' Cakes," states Tara Haddad.
About Modern Plant-Based Foods
Modern Plant-Based Foods is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups, and vegan snacks. Our products are available at select restaurants and retailers across Canada including our own Modern Wellness Bars located in Vancouver. We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. We want people to feel good about the food they eat which is why we are deliberate in choosing ingredients free of soy, gluten, nuts, and GMOs.
Our mission is to change the way food is produced and consumed for the benefit of people, animals, and the environment by using natural plant-based ingredients.
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, increased market penetration and distribution, demand fort he Company's products, the details of production capacity with Trimpac, future customers for the Company's products, 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.
SOURCE Modern Plant Based Foods Inc.
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