Ms. Tanya Todd reports
MODERN MEAT PROVIDES COMPANY UPDATE
Modern Meat Inc. has provided a corporate update to the market after its first full week of trading on the Canadian Stock Exchange under ticker symbol MEAT.
Modern Meat began R&D in June 2019 and has since developed an evolving portfolio of vegan products including the Modern Burger, Crumble, Meatball, 'Crab' Cake and sauces. The Company commenced production of its burger in November 2019 and has increased production up to 6,000lbs per week. With a simple list of real whole foods, the Modern Burger outranks its top competitors in natural ingredients. Nutritionally, the Modern Burger contains 14 grams of plant protein per 100-gram patty and only 6 grams of fat compared to estimated 20 grams of fat in a regular beef burger.
"We recognized a gap in the market for nutritious and satisfying meat alternatives that do not contain GMO's," states Tara Haddad, CEO of Modern Meat. "Creating products that are truly healthy and nourishing is a core principle for us which is why we only use whole food ingredients free of preservatives, fillers and additives. We also develop our products in a kitchen not a lab, which really reflects the plant-based space and the growing movement of people who want to eat clean."
Since commencing production, Modern Meat has expanded distribution of its products to an array of restaurants and grocery retailers throughout Western Canada. The Company expects its growth to continue with the goal of increasing production capacity to meet growing demand. The Company is looking to secure a larger production facility in Vancouver where it also plans to expand its sales base.
Plant-based nutrition has been experiencing incredible growth due to consumer's dietary restrictions, sustainability concerns and changing taste preferences. These shifting behaviors are influencing the food industry globally as witnessed by the adoption of meat alternative foods across all sectors, from large food manufactures to quick service restaurants.
"We see favourable growth ahead for the meat-free market and we are well-positioned to scale our production to meet the rising consumer demand. This is an exciting and pivotal time for Modern Meat as we aim to be a leader in this space by offering consumers nutrient-dense, low-fat, gourmet foods with authentic flavours," explains Tara. "We do not compromise on taste or product quality and believe strongly in ingredient transparency which is what drives our brand forward."
The company would also like to congratulate the CEO for her recent article in Forbes, "5 Ways To Disrupt An Industry"
A complete list of where retailers carrying Modern Meat's products to purchase is available on the Modern Meat website. www.themodernmeat.com
For additional information regarding modern Meat, its business and growth plans, please refer to the Company's Form 2A Listing Statements available under its profile at www.SEDAR.com and on the CSE website.
The Company also wishes to address information contained in its June 26, 2020 news release to clarify that 2,760,000 incentive stock options issued in connection with the acquisition of the Company's subsidiary, Modern Meat Holdings, are exercisable at five cents until August 22, 2021 (and not August 22, 2022, as previously disclosed).
About Modern Meat
Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMO's. Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using only natural 100% plant-based ingredients.
We seek Safe Harbor.
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