VANCOUVER, BC /CNW/ – Modern Plant Based Foods Inc., (CSE: MEAT) (“Modern Plant Based Foods”) or (the “Company”), an award-winning plant-based food company is pleased to report that it is expanding the Company’s presence in the food innovation space by opening the “Modern Commissary” kitchen facility to tap into the growing trend of ghost kitchens, meal prep, and innovative food start-ups, and has already received extensive interest from a number of unique food players.
“There is an abundance of local and ethnic talent in the lower mainland, and we are ecstatic to be able to offer an accessible and well-equipped kitchen facility for passionate food and beverage companies to do what they love. Our community-focused approach aims to provide affordable means for companies to continue to innovate and grow. The facility is well equipped and can provide the necessary scalability needed for growing business and allows the Company to better utilize its space while generating additional revenue. Given our own humble beginnings, we are happy to be able to serve as a starting point for small businesses to create, connect, and have access to the resources needed to one day reach the same heights and success as Modern Foods,” explains Avtar Dhaliwal, CEO of Modern Plant Based Foods.
The Modern Commissary tenants include food businesses that operate locally, have established reputations at some of Vancouver’s top food festivals, as well as Asian focused food operators with past food development experience in Southeast Asia. The Modern Commissary provides top of the line equipment that allows start-ups to scale their operations and grow into significant production scenarios. The Modern Commissary is a versatile facility that can accommodate a variety of food products, and has the storage required for frozen, cooler, and dry goods, along with state-of-the-art packaging machines. The facility is perfect for small businesses in the research and development phase of their life cycle, including and up to, finished products being placed on shelves.
Tenants of the facility must meet the company’s guidelines for food preparation and safety. The facility is a bit unique providing around the clock access to tenants to create and experiment any time of day, seven days a week. This has effectively expanded usage capacity of the facility, and further solidifies the Company’s presence within the food sector. The facility allows Modern Foods to expand its presence in the Vancouver area and provide an additional revenue stream for the Company.
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.
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, the availability of Modern Meat Products through GFS, 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.
