MODERN MEAT CONTINUES ITS PREFERRED SUPPLIER AGREEMENT WITH GORDONS FOOD SERVICE, THE LARGEST PRIVATE FOOD DISTRIBUTOR IN NORTH AMERICA AND NORTHLAND PROPERTIES

VANCOUVER, BC, August 26, 2022 /CNW/ – Modern Plant Based Foods Inc., (ESC: MEAT) (“Modern Plant Based Foods”) or (the “Company”), an award-winning plant-based food company is pleased to announce that Modern Meat, a plant-based meat alternative brand offering a variety of healthy, chef-inspired vegan products, has successfully completed and renewed its six first months of the year renewable 1 supply agreement with Northland Properties, an asset management company owning several restaurant brands and hotel chains, including but not limited to Moxie’s, Denny’s, Chop Steakhouse, Shark Club, Boulevard Kitchen & Oyster Bar and CRAFT Beer Market. Northland Properties is recognized as one of the most trusted names in hotels, restaurants, sports and construction across CanadaUnited States, Irelandand the UK for over 50 years and is considered one of the from Canada fastest growing hotel groups.

Modern Plant Based Foods Inc. Logo (CNW Group/Modern Plant Based Foods Inc.)

Through the supply agreement with Northland Properties, Modern Meat has become the sole supplier of a proprietary plant-based ground meat alternative. This product was created for one of Northland’s upscale fine dining chains, a multinational chain with 67 locations across Canada and United States. The company effectively replaced a previous supplier who seized an opportunity in February and maintained a steady supply of product during the first 6 months of the one-year renewable contract.

Products are distributed to each location through trusted distributor Gordon’s Food Service (GFS). GFS is the largest private food distributor in North America, allowing the deployment process to be efficient and mutually beneficial. Modern Meat currently distributes its plant-based products with GFS, which further strengthens the relationship for sales and the distribution channel within Canada.

“Modern Plant Based Foods has worked hard to fulfill its agreement with Northlands and GFS continues to build a stronger relationship as we seek to expand our offerings to our on-site accounts. As many plant-based companies struggle to stay afloat and realizing our business has continued to execute on its plan, experienced steady growth and financial security throughout the same period,” says Avtar Dhaliwal, CEO of Modern Plant Based Foods. “Over the next few months, we will work to secure key partnerships and supply deals such as this by pushing our plethora of brands and products.

About Modern Plant-Based Foods

Modern Plant Based Foods is a Canadian food company based in Vancouver, British Columbia which offers a portfolio of plant-based products, including meat-free 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, so we deliberately choose ingredients that are free of soy, gluten, nuts and GMOs. Our mission is to change the way food is produced and consumed to benefit people, animals and the environment by using natural, plant-based ingredients.

Caution Regarding Forward-Looking Information

This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws 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 press release include, but are not limited to, statements regarding: the company and the company’s business and prospects; the Company’s future objectives, goals or plans; the Company’s sales growth, planned expansion, awareness of the Company’s brands, future sales and revenue growth, and the Company’s business, operations, management and capitalization. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results to differ. and future events will differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to: general business, economic and social uncertainties; local and global economic and business uncertainties related to the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other legal, regulatory, political and competitive developments; the ability to effectively increase manufacturing and production capacity; the ability to obtain business partners to distribute the Company’s products, the success of market initiatives and the ability to increase brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and foodservice partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our liquidity to meet liquidity needs; such additional risks set forth in the Company’s public filings on SEDAR at www.sedar.com; and other matters discussed in this press release. Accordingly, the forward-looking statements discussed in this release may not occur and may differ materially due to these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in the preparation of forward-looking statements are reasonable, undue reliance should not be placed on such statements, which speak only as of the date of this press release, and no no assurance can be given that such statements of events will occur within the time periods disclosed or at all. Except as 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.

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