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The Very Good Food Company Inc. Files Preliminary Prospectus for Initial Public Offering of Common Shares

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - January 13, 2020) - The Very Good Food Company Inc. ("VGFC" or the "Company") today announced that it has filed and obtained a receipt for a preliminary prospectus with the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Saskatchewan and Ontario for a proposed initial public offering of 14,000,000 of its common shares at a price of $0.25 per common share for gross proceeds of $3,500,000 (the "Offering"). The Offering will be conducted on a commercially reasonable best efforts basis by Canaccord Genuity Corp. as lead agent and sole bookrunner (the "Agent").

There can be no assurance that the Offering will be completed as planned or at all. An investment in the common shares of VGFC is subject to a number of risks. The preliminary prospectus contains important information relating to the common shares of VGFC and is still subject to completion or amendment. Copies of the preliminary prospectus are available under the profile of the Company on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of VGFC in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About

The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Our mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. To date we have developed a core product line under The Very Good Butchers brand.

For further information, please contact:

Drew Bonnell
Chief Financial Officer and Director
Email: drew@verygoodbutchers.com

Cautionary Note Regarding Forward-Looking Information

This press 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 press release includes, but may not be limited to, the details of the Offering and completion of the Offering.

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. 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, negotiations with the Agent concerning the particulars of the Offering including the offering price; comments from securities regulatory authorities on the Preliminary Prospectus and conditions of same for issuing a receipt for the final prospectus; and other regulatory approvals required for the closing of the Offering. The forward-looking information in this press 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 press release are expressly qualified by this cautionary statement.

Not for dissemination in the United States or for distribution to U.S. newswire services

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51415