An anonymous director reports

THE VERY GOOD FOOD COMPANY ANNOUNCES $5.2 MILLION BOUGHT DEAL OFFERING

The Very Good Food Company Inc. has entered into an agreement with Canaccord Genuity Corp., acting as lead underwriter and sole bookrunner. The underwriter has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of four million units at a price of $1.30 per unit for aggregate gross proceeds to the company of $5.2-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company for a period of 18 months following the closing of the offering at an exercise price of $2.00 per share, subject to adjustment in certain events.

The company has agreed to grant the underwriter an overallotment option to purchase up to an additional 600,000 units at the offering price, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the offering to cover overallotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional $780,000 in gross proceeds will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be $5.98-million.

The company intends to use the proceeds from the offering to pursue an expansion to the United States, for continued investment in its product portfolio through research and development, and potential accretive acquisitions within the plant-based sector, and for general corporate purposes. The offering is expected to close on, or about, Aug. 12, 2020, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

The units will be offered by way of a short form prospectus to be filed in British Columbia, Alberta, Saskatchewan, Ontario, New Brunswick and Nova Scotia, certain offshore jurisdictions (provided that placement in such offshore jurisdictions does not give rise to the filing of a prospectus or registration statement or to any continuous disclosure obligations), and in the U.S. on a private placement basis pursuant to applicable exemptions under the U.S. Securities Act of 1933, as amended. The units may be sold in such other jurisdictions as the company and the underwriter may agree.

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. Very Good Food'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.