Better Bears Foods Optimizes Supply Chain

OAKVILLE, ON, Dec. 16, 2021 /CNW/ - Better Bears Foods Inc. (Private) ("Better Bears" or the "Company"), is thrilled to announce the Company has expanded its North American supply chain footprint to be closer to the end customer. This will result in a shorter production time frame, shaving close to 70% from the end-to-end customer delivery cycle and will also materialize in a reduction of 60% in overall freight expense of finished products. Better Bears is beyond excited to restock its sought-after Gummy Bear flavors Mixed Berry and Tropical Citrus as well as its very popular Variety Pack products within the Company's rapidly growing points of distribution.

Jeff O'Neill, President of the Company commented: "As we continue to meet the growing consumer and customer demand for our great tasting products, delivering commercial and operational excellence is a core priority for the organization. Going forward, this critical step enables Better Bears to drive a superior in-stock position as we consistently execute additional points of availability over the next several months. "

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 partnership with CBM and the anticipated expansion of the availability of the Company's products across Canada.

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]