THE VERY GOOD FOOD COMPANY ANNOUNCES NEW BOARD APPOINTMENT AND RECEIPT OF SECOND 180-DAY NASDAQ MINIMUM BID COMPLIANCE PERIOD

Saul Cooperstein to Sign up for the Board of Administrators as Unbiased Director

VERY GOOD has been supplied with further 180 calendar days, or till January 9, 2023, to regain compliance with US$1 Bid Worth Rule

VANCOUVER, BC, July 13, 2022 /CNW/ – The Very Excellent Meals Corporate Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or the “Corporate”), is happy to announce that Saul Cooperstein will sign up for the Corporate’s Board of Administrators as an impartial director efficient July 13, 2022. 

Saul has over two decades of revel in in meals and beverage, generation, and finance. He recently serves because the Leader Technique and Construction Officer of Digital Eating Ideas, the main platform of digital emblem answers for the eating place business.  As well as, he recently serves as an guide for plenty of venture-backed generation start-ups together with fintech platform Inventive Juice, which he co-founded.

Saul has held further management positions within the meals and beverage business together with at C3 (digital eating places), Barilla The united states, Umami Eating place Workforce, and sbe Hospitality.  He additionally served as a member of Umami’s Board of Administrators and 800 Levels Neapolitan Pizzeria’s Board of Managers. 

Previous to his revel in within the eating place/meals business, Saul used to be an Assistant Vice President at Public Sources Advisory Workforce (PRAG), the place he labored on greater than 30 debt transactions totaling over $45 billion of issuance. He started his occupation within the funding banking department of Lehman Brothers (now Barclays) inside the financial institution’s generation and normal/commercial teams.

Saul earned a Bachelor of Science Level in Arithmetic from the College of California at Los Angeles.

VERY GOOD’s CEO, Parimal Rana commented on Saul’s appointment. “Saul brings an excessively numerous talent set to the desk that definitely can assist us navigate our trail ahead as we paintings to ship on our new methods.”

Moreover, VERY GOOD as of late additionally introduced that it’s been granted an extra 180-day era from Nasdaq’s Record Qualification Division or till January 9, 2023, to regain compliance with the minimal US$1 bid value requirement for persevered list on The Nasdaq Capital Marketplace.

On January 11, 2022, Nasdaq notified VERY GOOD that, in keeping with the former 30 consecutive trade days, the Corporate’s indexed safety not met the minimal US$1 bid value in step with proportion requirement. Due to this fact, in response to Nasdaq’s Record Regulations (the “Regulations”), the Corporate used to be supplied 180 calendar days, or till July 11, 2022, to regain compliance.

Nasdaq’s resolution of VERY GOOD’S eligibility for an extra 180 calendar day era throughout which the Corporate can regain compliance, used to be in keeping with VERY GOOD assembly the continuing list requirement for marketplace worth of publicly held stocks and all different appropriate necessities for preliminary list at the Capital Marketplace apart from the bid value requirement, and the Corporate’s written realize of its goal to treatment the deficiency throughout the second one compliance era by means of effecting a opposite inventory cut up, if vital. Within the July 11 notification, Nasdaq additional knowledgeable VERY GOOD that if at any time throughout this extra time frame the last bid value of the Corporate’s safety is no less than US$1 in step with proportion for at least 10 consecutive trade days, Nasdaq will supply written affirmation of compliance and this subject will likely be closed.

Nasdaq knowledgeable VERY GOOD within the July 11 notification, that if compliance can’t be demonstrated by means of January 9, 2023, Nasdaq will supply written notification that VERY GOOD’s securities will likely be delisted – at which era, the Corporate would possibly attraction Body of workers’s resolution to a Hearings Panel (the “Panel”). If VERY GOOD appeals, the Corporate will likely be requested to offer a plan to regain compliance to the Panel.

About The VERY GOOD Meals Corporate Inc.

The VERY GOOD Meals Corporate Inc. is an rising plant-based meals generation corporation that produces nutritious and scrumptious plant-based meat and cheese merchandise beneath VERY GOOD’s core manufacturers: The VERY GOOD Butchers and The VERY GOOD Cheese Co. www.verygoodfood.com.

OUR MISSION IS LOFTY BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE’RE HELPING THIS KIND OF DIET BECOME THE NORM.

ON BEHALF OF THE VERY GOOD FOOD COMPANY INC.

Parimal Rana

Leader Government Officer

Ahead-Taking a look Statements

This information unlock accommodates “forward-looking data” inside the which means of appropriate securities rules in Canada and “forward-looking statements” inside the which means of america Non-public Securities Litigation Reform Act of 1995, together with Segment 21E of the Securities Change Act of 1934, as amended (jointly known as “forward-looking data”), for the aim of offering details about control’s present expectancies and plans on the subject of the long run. Readers are cautioned that reliance on such data might not be suitable for different functions. Ahead-looking data is also known by means of phrases reminiscent of “plans”, “proposed”, “expects”, “anticipates”, “intends”, “estimates”, “would possibly”, “will”, and identical expressions. Ahead-looking data contained or referred to on this information unlock comprises, however isn’t restricted to the brand new appointment to the Board of Administrators and the advantages the Corporate expects to derive therefrom, in addition to the Corporate’s skill to regain compliance with the Nasdaq minimal bid value necessities ahead of l January 9, 2023.a. Ahead-looking data is in keeping with plenty of elements and assumptions which were used to increase such data, however which would possibly end up to be fallacious together with, however no longer restricted to, subject material assumptions with recognize to the Corporate’s skill to proceed as a going fear; the Corporate’s skill to control fresh workforce adjustments; and the Corporate’s skill to effectively execute on its up to date trade technique defined in its maximum just lately filed intervening time Control’s Dialogue and Research for the 3 months ended March 31, 2022, which is to be had at www.sedar.com and www.sec.gov. The Corporate’s skill to execute on its technique may additionally rely at the Corporate’s skill to as it should be forecast buyer call for for its merchandise and set up its present and long term stock ranges, persevered call for for VERY GOOD’s merchandise, persevered enlargement of the recognition of meat choices and the plant-based meals business, no subject material deterioration typically trade and financial stipulations, the a success placement of VERY GOOD’s merchandise in retail retail outlets and distribution within the meals carrier channel, the Corporate’s skill to stay indexed at the Nasdaq, VERY GOOD’s skill to effectively input new markets, VERY GOOD’s skill to procure vital manufacturing apparatus and human sources as wanted, VERY GOOD’s dating with its providers, vendors and third-party logistics suppliers, and control’s skill to place VERY GOOD competitively. Even supposing the Corporate believes that the expectancies mirrored in such forward-looking data are affordable, undue reliance will have to no longer be put on forward-looking data as a result of VERY GOOD can provide no assurance that such expectancies will end up to be proper. Dangers and uncertainties that might motive exact effects, efficiency or achievements of VERY GOOD to fluctuate materially from the ones expressed or implied in such forward-looking data come with, amongst others, the affect of, uncertainties and dangers related to adverse money glide and long term financing necessities to maintain and develop operations, restricted historical past of operations and revenues and no historical past of profits or dividends, festival, dangers on the subject of the provision of uncooked fabrics, dangers on the subject of legislation on social media, enlargement of amenities, dangers associated with credit score amenities, dependence on senior control and key workforce, availability of work, normal trade possibility and legal responsibility, legislation of the meals business, trade in rules, rules and pointers, compliance with rules, dangers comparable to 3rd social gathering logistics suppliers, detrimental exposure or shopper belief, greater prices because of being a United States public corporation, product legal responsibility and product recollects, dangers associated with highbrow belongings, dangers on the subject of co-manufacturing, dangers associated with enlargement into america; dangers associated with our acquisition technique, taxation dangers, difficulties with forecasts, control of enlargement and litigation in addition to the dangers related to the continued COVID-19 pandemic. For a extra complete dialogue of the dangers confronted by means of VERY GOOD, please check with VERY GOOD’s most up-to-date Annual Data Shape filed with Canadian securities regulatory government at www.sedar.com and as an show off to the Shape 20-F filed with the SEC on Would possibly 26, 2022 and to be had at www.sec.gov. The forward-looking data on this information unlock displays the present expectancies, assumptions and/or ideals of the Corporate in keeping with data recently to be had. Any forward-looking data speaks most effective as of the date of this information unlock. VERY GOOD undertakes no legal responsibility to publicly replace or revise any forward-looking data whether or not on account of new data, long term occasions or in a different way, aside from as in a different way required by means of regulation. The forward-looking data contained on this information unlock is expressly certified by means of this cautionary remark.

Not one of the Nasdaq Inventory Marketplace LLC, TSX Project Change, the SEC or another securities regulator has both authorized or disapproved the contents of this information unlock.

Not one of the Nasdaq, the TSX Project Change or its Legislation Services and products Supplier (as that time period is outlined within the insurance policies of the TSX Project Change), the SEC or another securities regulator accepts accountability for the adequacy or accuracy of this information unlock.

SOURCE The Very Excellent Meals Corporate Inc.

For additional data: Very Excellent Meals Corporate, Investor Family members, E-mail: [email protected], Telephone: +1 855-472-9841