Mr. Mitchell Scott reports

THE VERY GOOD FOOD COMPANY ANNOUNCES SIGNIFICANT GROWTH IN ITS ONLINE INITIATIVES

The Very Good Food Company Inc. has provided statistics related to the increase in traffic across its e-commerce store, social media channels and newsletter subscribers.

E-commerce growth

Consistent efforts by the company to increase on-line traffic and expand its direct-to-consumer business have shown significant progress. Metrics for the most recent four-month period highlight considerable growth across key data points. These include an increase in site visits to 447,169 (up 1,591 per cent), as well as an increase in average order value (up 108 per cent), number of orders (up 986 per cent) and conversion rate (up 155 per cent).

"We are very proud of the progress we have made growing our direct-to-consumer business. As consumer purchasing behaviour is changing considerably, we remain focused on providing options that allow our customers to buy our products on their own terms. Our on-line positioning sets us apart from the competition, and gives us a platform to continue scaling our sales at a rapid pace," said Mitchell Scott, chief executive officer.

In addition, the company has grown its active subscriptions for the monthly meat club to over 1,000 of its most loyal recurring customers, from less than 100 this time last year.

On-line channel growth

Social media followers and newsletter subscriber growth have advanced at a similarly expeditious pace, helping to fuel the on-line ecosystem of Very Good Food. In the four months ended June 30, e-mail newsletter subscribers grew 98 per cent to 28,000 members who receive product and company updates.

Over the same time period, the on-line communities of both Facebook and Instagram followers of the company experienced growth of 627 per cent and 498 per cent respectively, and have both recently surpassed 30,000 on each platform.

Scaling production

As a result of the significant growth in on-line activity, orders across North America have substantially increased. To fulfill the immediate customer demand, the company is working hard to increase production out of the Victoria facility as construction of the Vancouver facility approaches.

"We understand the production bottlenecks and will be focused on streamlining existing operations while investing into automation and new technologies to increase output," said Olga Millman, director of process and engineering operations.

About The Very Good Food Company Inc.

Very Good Food 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. The company's mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile.

We seek Safe Harbor.