Modern Meat Announces Initatives to Expand Its Modern Wellness Bars, in Combination with Launching an E-commerce Initiative Headed by Mohsen Rahimi

VANCOUVER, BC, Dec. 7, 2020 /CNW/ - Modern Meat Inc., (CSE: MEAT) ("Modern Meat") or (the "Company"), an award winning plant-based meat manufacturer, is pleased to announce its initiative to expand on its Modern Wellness Bar locations. The Company has completed the rebranding of its two recently acquired Victoria's Health locations. The Company has been pleased with its ongoing operation and will be looking at possible opportunities for acquisition or building more locations.

"We are very pleased with the Modern Wellness Bars; we feel they look fantastic and truly represent the brand that we have built. The locations are expected to bring in consistent revenue and showcase the Modern Meat portfolio of vegan products. Having brick and mortar locations not only bring in sales, but also increases awareness of our company; a channel we are excited to explore." states Tara Haddad, CEO and Founder of the Company.

The Company also announces that it has appointed Mohsen Rahimi to the Board of Directors and will hold the position of Head of Modern Wellness Bars division. Mr. Rahimi studied at UBC in the department of Land and Food Systems, formerly known as the department of Food, Nutrition and Health. He further has experience in commercial retail and international import and export holding positions at Kowsar Holdings and Tin95 Holdings, which are both private investment firms. Mr. Rahimi also holds vast retail knowledge, growing out existing health food chains to multiple locations and millions in gross revenue per annum, while simultaneously operating an active online e-commerce business.

"Coming from retail, real estate, and finance experience, I'm very pleased to join the Company as a Director of the board and Head of the Modern Wellness Bars. With my past experience, I feel I am very qualified to identify strong locations and provide accurate valuations of other health stores which the Company is looking to potentially acquire. I expect to hit the ground running and am very excited about the Company's future." states Mohsen Rahimi.

The Company also announces that it has retained MJ Capital Management for up to $200,000 (U.S.) over a 3-month period. MJ Capital Management has been engaged for advisory services for increasing brand awareness for the company in global markets. Certain services to be provided by MJ Capital Management are anticipated to include investor relations activities under the policies of the Canadian Securities Exchange and applicable securities laws.

Mr. Rahimi will be replacing Nawaz Jiwani who has resigned from the Board of Directors. The Company thanks Mr. Jiwani for his service during his time as a director.

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 and the Modern Meat market share, Modern Meat sales growth, planned expansion, awareness of the Modern Meat brands, future revenues, 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