MODERN MEAT RECEIVES ADDITIONAL INTEREST FROM WHOLE FOODS AFTER POSITIVE PRODUCT LAUNCH AND LOOKS TO EXPEDITE NATIONAL LISTING

VANCOUVER, BC , July 13, 2022 /CNW/ - Modern Plant Based Foods Inc., (CSE: MEAT) ("Modern Foods") or (the "Company"), an award-winning plant-based food company is pleased to report it has received additional interest from Ontario locations of the Whole Foods Market conglomerate chain, aiming to expedite a national listing of its plant-based meat alternative products under the 'Modern Meat' brand. Whole Foods Market IP, Inc. ("Whole Foods Market"), is an American multinational supermarket chain known as the industry leader in organic and high-quality groceries. Whole Foods Market is headquartered in Austin, Texas, which sells products free from hydrogenated fats and artificial colors, flavors, and preservatives. The supermarket chain currently has over 500 locations across North America realizing net sales of $16 billion USD as per their annual report in 2017.

Whole Foods Market stores currently offer select Modern Foods products including the Modern Crumble, Modern Burger, Modern Crab Cake and Modern Mini Burger. The Modern Meat products are made with whole, real ingredients confining within vegan, gluten-free and non-GMO requirements. The company's mission and vision align directly with many of the consumers who shop at the Whole Foods stores, valuing higher quality foods, free from added preservatives, and are trustworthy brands given the vetting process to be listed within the chain.

"Following our initial launch of the Modern Meat brand in select Whole Foods stores, we have received a very positive review from the retailer and customers alike. Subsequently our company has received additional interest from Eastern Canadian locations within the Whole Foods conglomerate and has asked our company to expedite its listing," states CEO, Avtar Dhaliwal. "Whole Foods is one of the major players in North America, we look forward to continue expansion within the supermarket chain for our retail lines."

The Company continues to position itself in the continuously expanding category within grocery outlets. According to GFI article "Plant-based products are a key driver of sales growth at grocery retailers nationwide, growing almost twice as fast as overall food sales. SPINS retail sales data released April 6, 2021, shows that grocery sales of plant-based foods that directly replace animal products have grown 27 percent in the past year to $7 billion USD."

Modern Meat continues to develop and curate new innovative plant-based products to satisfy the needs of the consumer. The range of products are currently distributed through multiple food distributors to allow various revenues streams.

About Modern Plant-Based Foods

Modern Plant Based Foods is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups, and vegan snacks. Our products are available at select restaurants and retailers across Canada including our own Modern Wellness Bar located in Vancouver. We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. We want people to feel good about the food they eat which is why we are deliberate in choosing ingredients free of soy, gluten, nuts, and GMOs. Our mission is to change the way food is produced and consumed for the benefit of people, animals, and the environment by using natural 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: the Company and the Company's business and prospects; the Company's objectives, goals or future plans; the Company's sales growth, planned expansion, awareness of the Company's brands, future sales and revenue growth, 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 ability to obtain retail partners to distribute Company products, 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 Plant Based Foods Inc.

Cassidy McCord, Chief Corporate Officer, [email protected], 604-395-0974