Modern Meat Annnounces Ex Maquarie Managing Director Craig Wallace as Head of Global Acquisitions and Member of the Advisory Board

VANCOUVER, BC, Nov. 18, 2020 /CNW/ - Modern Meat Inc., (CSE: MEAT) ("Modern Meat") or (the "Company) an award-winning plant-based food manufacturer, announced today that it has appointed Craig Wallace to the advisory board and as head of global acquisitions, to lead the Company's expansion outside of North America.

Mr. Wallace's has led the establishment of Private Capital Funds and capital formation globally. Mr. Wallace has over 30 years of capital markets experience, having held senior positions in advisory firms, Investment Banks and Private Equity Companies, including, Clarion Capital (managing director), the Macquarie Group (managing director), MGPA (Managing Director & global head of capital markets) and Spearhead Capital Partners (CEO).

"Craig brings deep global capital markets and business development experience from his decades in private and public capital markets, specifically in the areas of Investment Banking, Private Equity, and Private Placements. He has built material value and growth to the businesses that he has advised, represented, and led, through his long-distinguished career, with successful experience in the private & public equity markets. To have someone of his caliber join our team speaks volumes in the direction that Modern Meat is going, to not only become a household name in North America but around the world," states Campbell Becher, Head of Finance and Mergers and Acquisitions for Modern Meat.

Mr. Wallace has spearheaded transactions totaling in excess of USD8 billion and has extensive relationships with global institutional capital and CEOs of leading public and private companies globally. He has also sat on numerous investee-company boards and global Investment & Credit Committees in which he has overseen in excess of USD20 billion in approved transactions. He led MGPA's FUM growth, taking it from USD600 million to USD6 billion (equity) in a period of three years. Craig is a qualified Chartered Surveyor, under the Finance & Investment Pathway, and a Member of the Royal Institute of Chartered Surveyors.

"I'm very pleased to add Craig to our team. He has had an extremely distinguished career in finance and we are proud to say he shares the same vision with Modern Meat. Together we believe we are on the horizon of significant growths" states Tara Haddad, CEO of the Company.

"I have been a believer in the vegan sector for quite some time and have been looking for the right company to align with, Modern Meat ticks all the boxes. The Company has incredible products and an unbelievable management team whose principals and growth plan match with my beliefs. Coming on board I look to take Modern Meat to the next level on a global scale and identify opportunities that will fit the Company," States Craig Wallace.

The Company further announces the issuance of 30,000 stock options priced at $3.05 to Mr. Craig Wallace.

About Modern Meat

Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMO's. Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using only natural 100% plant-based ingredients.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: Modern Meat and Modern Meat's business and prospects; the Company's objectives, goals or future plans; future growth of the alternative meat sector, Modern Meat sales growth, plans to increase retail sales, making plant-based nutrition more accessible, new growth opportunities, increased brand awareness, the acquisition of new customers, the exploration of other opportunities to build brand, distribution and revenue, and the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: 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 success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners; 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.

SOURCE Modern Meat Inc.

Tanya Todd, Communications Director, [email protected], 604-395-0974