Modern Meat Expands Into Georgia Main Retailers, Launching Its Plant-Based Meats in Fresh Street Market and IGA

VANCOUVER, BC, Feb. 23, 2021 /CNW/ - Modern Meat Inc., (CSE: MEAT) (" Modern Meat ") or (the " Company "), an award-winning plant-based meat manufacturer, is pleased to announce that it is rolling out its premium line of chef curated vegan products at the popular grocery retailers IGA and Fresh St. Market, both subsidiaries of Georgia Main Food Group Ltd. Specifically, they will be carrying the Modern Meat Burgers, Crumble, 'Crab' Cakes and Meatballs.

Georgia Main is a family company that has been in business for over 118 years from the beginnings of the H.Y Louie Company. Fresh St. Market and IGA combined have over 30 locations throughout British Columbia. Both stores are committed to offering top-of-the-line products in an inviting atmosphere where new, authentic, local, organic and exclusively sourced becomes part of everyday shopping.

"We continue to make great strides toward our retail strategy and see strong demand for our delicious plant-based meat alternative products," stated Tara Haddad, Founder and CEO of Modern Meat. "We are thrilled to launch Modern Meat into two of British Columbia's top-tier food brands, IGA and Fresh St. Market. Both banners are leaders in the highly competitive grocery industry and has one of the strongest distribution networks in the market space. We are excited to work with them and advance our goal of making our natural and nutritious plant-based meat products more accessible to consumers." 

According to Plant Based Foods of Canada 2020 research, about a quarter of Canadian households claim to be consuming some sort of plant-based in their diet.  

"Rising demand for quality plant-based products creates retail opportunities which is a priority for Modern Meat. We continue to gain momentum on our West Coast expansion efforts with interest from new retailers while also expanding our existing customer relationships. Both Fresh St. Market and IGA have always had the reputation of staying on the leading edge of food trends, sourcing new and innovative products and paving the way for new brands and we are excited to be a part of their line up," explained Chris Parkinson, Brand and Relationship Manager at Modern Meat.

Modern Meat is now available in the frozen section at Fresh St. Market locations with an ensuing rollout to select IGA stores. 

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; Modern Meat sales growth, planned expansion into Fresh St. Market and IGA, awareness of the Modern Meat brands, future sales and revenue growth, brand expansion, 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