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Yumy Candy Company Inc (The)
Symbol TYUM
Shares Issued 27,488,132
Close 2023-03-13 C$ 1.03
Market Cap C$ 28,312,776
Recent Sedar Documents

ORIGINAL: YUMY CANDY ACHIEVES VEGAN CERTIFICATION IN PREPERATION FOR MAJOR ORDERS FROM ALL NATURAL RETAILERS

2023-03-13 16:23 ET - News Release

VANCOUVER, BC, March 13, 2023 /PRNewswire/ - The Yumy Candy Company Inc., (CSE: TYUM) ("Yumy" or the "Company"), Canada's first publicly traded low sugar, plant-based confectionery company, is pleased to announce it has achieved the vegan certification in preparation for major orders from all natural retailers. The Company has taken a major step forward in their commitment to providing delicious and natural treats to their customers. Yumy has obtained the vegan certification for their entire product line. These new certifications allow the product to be sold in a new array of major all-natural channel of grocery stores.

Yumy Candy Logo (CNW Group/Yumy Bear Goods Inc.)

"We have received significant interest from leading all-natural grocers across North America. Now that we have finally achieved our certification and fit all natural requirements, allowing us finalize earlier conversations with retailers or approach new retailers who require these specifications. Large all natural retailers include companies such as Whole Foods and Trader Joe's, a subsidiary of Aldi. To land on shelves of a global leader in all natural foods will be transformative for our company and will likely send us to new levels," states Erica Williams, Chief Executive Officer at The Yumy Candy Company "Yumy Candy strives to continually improve on quality, nutrition, safety and value. We want consumers to feel good about the food they consume and trust we are keeping their best interest in mind."

Whole Foods Market is a U.S.-based grocery retailer with an emphasis on organic and natural food products.  Whole Foods Market had nearly 500 locations worldwide in 2017, nearly doubling the store count over the previous ten years. As the number of locations increased, so did the size of the supermarkets, from an average size of 36,000 square feet in 2008 to 40,000 in 2017. 

Food certification refers to the verification of products, processes, or systems in the food supply chain to meet the accepted safety parameters based on different food safety standard types. Certification of food implies that the food product complies with the respective food standards and is considered safe for consumption after numerous tests, inspections, and audits. Covid-19 had a significant impact on the Food certification market. Amid the global pandemic, there was a paradigm shift in diet and hygiene among the people, thereby increasing the demand for nutritional food. At the same time, this increased the demand for transparency, and certification of the products has surged as well. The stringent initiatives taken by the multiple governments over food safety had further added impetus to the market.1

The Company has also revised their gummy products to fit all-natural standards allowing the product to be sold in the natural channel of grocery store and with select premium grocery stores that require all natural products. The all-natural elements used in their products are derived from real fruits and vegetables, instead of artificial flavours. This ensures that their products are even healthier than before, while still maintaining their great taste.

Yumy Candy was founded on the principle of providing a healthier alternative to traditional candy. Yumy's vegan certification ensures that all products meet strict vegan standards, meaning that the ingredients used are free from any animal-derived products. This certification is a testament to the company's commitment to producing delicious candy that is not only vegan-friendly but also healthier than traditional candy. By continually improving compliance and securing additional product benefits, the Yumy brand increases customer trust and provides a competitive advantage over like-products.

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1 https://www.knowledge-sourcing.com/report/food-certification-market

Yumy Bear is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, British Columbia and it has developed a portfolio of healthier gelatine-free candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.

Cautionary Statement Regarding Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable securities legislation. The information in this news release about future plans and objectives of the Company, are forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: 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 vendors; 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.

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