Better Bears Foods Increases Production Due to Increased Demand

OAKVILLE, ON, Jan. 26, 2022 /CNW/ - Better Bears Foods Inc. (Private) ("Better Bears" or the "Company"), is pleased to announce that in the first quarter of 2022 (fiscal Q4) it plans to produce nearly 1 million 50g packages of its popular Better Bears product line up to meet the growing demand across all sales channels.

With the recent expansion and efficiency of Better Bears North American supply chain footprint to increase the speed to market, the Company is focusing on consistent production to match the demand of its delicious line of Better Bears Mixed Berry, Tropical Citrus and Variety Pack products. The larger inventory position is needed to deliver supply chain excellence to the customers created by an accelerated level of retailer acceptance across Canada, which is now on track to reach 1000 retail locations by the end March 2022.

Jeff O'Neill, President of the Company commented "We are focused on winning every consumer, one at a time and introducing them to our line of incredibly delicious all natural, plant-based, low sugar gummy bears which requires a reliable and consistent in stock position at all times. This first initial production increase allows us to better accomplish this."

About Better Bears Foods Inc.

Better Bears is an emerging plant-based healthier for you snack brand and formulations company. Its mission is to use progressive food technology and ingredients to create low sugar healthier for you snack products that are as delicious as their conventional full sugar alternatives. To date, Better Bears have developed a core product line of healthier for you gummy candy and have commercialized 3 SKU's of its gummy bears products with other candy types slated for launch in the coming months.

Cautionary Note Regarding Forward-Looking Information

This news 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 news release includes but is not limited to the Company's expectations concerning its production plans for the first quarter of 2022 (fiscal Q4), its expectations concerning growing demand across all sales channels, its expectations concerning accelerated retailer acceptance of its products and all other statements that are not historical in nature.

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. Certain assumptions in respect of continued demand for the Company's products; that future added production capacity will enable us to increase our sales volume, that we do not experience material interruptions or supply chain failures as a result of COVID-19, our ability to retain key personnel, the availability of labour, and changes and trends in our industry or the global economy are material assumptions made in preparing forward-looking statements or information and management's expectations. 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: negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; regulatory changes in the Company's primary markets and the impact of and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company's contracted production facilities or in its supply and distribution channels. The forward-looking information in this news 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 news release are expressly qualified by this cautionary statement.

SOURCE Better Bears Foods Inc.

Garrett Downes, Chief Executive Officer and Director; Morgan Knowles, Vice President, Investor Relations, 647.202.3904, [email protected]