GreenSpace Rebuilding Momentum on LOVE CHILD ORGANICS Brand
TORONTO, Aug. 3, 2021 /CNW/ - GreenSpace Brands Inc. ("GreenSpace" or the "Company") (TSXV: JTR) a leader within the organic and plant-based food industry, announces further details about exciting developments at one of its core brands, LOVE CHILD ORGANICS. The LOVE CHILD ORGANICS brand is a leader in the organic baby food and snack categories across Canada with a following of parents looking for healthier options for their infants and children aged six months to six years. The brand is re-establishing its growth momentum after facing supply challenges in the last fiscal year.
The customer fill rates of the LOVE CHILD ORGANICS pouch range have significantly improved to more than 95% over the past 3 months compared to the fourth quarter of the fiscal year ending March 31, 2021. In June, the Company announced that the brand had been re-listed at Canada's second largest retailer and had been executing promotion activity for the brand across retailers nationally after a half-year hiatus due to supply constraints.
The Company is confirming significant 'stock keeping unit' ('SKU') expansion for the brand across 400 outlets at another top Canadian grocery retailer starting in a few weeks. This outlet expansion will include distribution of its LOVE CHILD ORGANICS Brekky Blends new product innovations. This leading grocery retailer has confirmed incremental merchandising support over the months ahead. The Company is also in positive discussions about the brand with a key retailer in the warehouse club channel and with a top Quebec-based grocery retailer, targeting distribution expansion over the coming months.
The Company is pleased to announce an increase in its marketing investment in the LOVE CHILD ORGANICS brand which will see the brand featured on the popular FoodSCAPES television program during the upcoming back-to-school season. FoodSCAPES airs nationally on BNN and Global television as well as the Canadian Living website.
"There has been ongoing consumer demand for the LOVE CHILD ORGANICS brand and we are excited to rebuild momentum in the business, expand our distribution across channels, and drive ongoing awareness and accessibility for families," says Brittany Compton, Brand President of LOVE CHILD ORGANICS. "Over the coming months, we will be announcing the launch of an exciting new product platform, so our brand is prominent as families grow and their food and snack choices evolve over time."
ABOUT GREENSPACE BRANDS INC.:
GreenSpace is a North American organic and plant-based food business that develops, markets and sells premium food products to consumers within the fast-growing natural and organic food categories. GreenSpace owns LOVE CHILD ORGANICS, a producer of 100% organic food for infants and toddlers made with natural and nutritionally-rich ingredients, CENTRAL ROAST, a clean snacking brand featuring a wide assortment of organic nut and seed mixes and GO VEGGIE, one of the pioneers and leaders in the US plant-based dairy market. All brands are wholly-owned and are sold in a variety of online, natural and retail grocery locations.
For more information, visit www.greenspacebrands.ca and GreenSpace's filings are also available at www.SEDAR.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release may contain forward-looking statements or "forward-looking information" within the meaning of applicable Canadian securities laws ("forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks and uncertainties, All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, certain factors are beyond the control of the Company, including, but not limited to, the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing; and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements, including the risks identified in the Company's disclosure documents. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE GreenSpace Brands Inc.
Shawn Warren, President and Chief Executive Officer, GreenSpace Brands Inc., [email protected]
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