Modern Plant Based Foods Inc.: Modern Meat Launches with Online Marketplace truLOCAL, Offering its Meat Alternatives in Curated Plant-Based Boxes
VANCOUVER, BC, July 26, 2021- Modern Plant-Based Foods Inc., (CSE: MEAT) (” Modern Plant Based Foods “) or (the “Company “), an award-winning plant-based food company, announces that its portfolio company, Modern Meat, is now offering its meat alternatives through truLOCAL. truLOCAL is an e-commerce company that connects health-conscious consumers to high-end, locally sourced products, providing a convenient way to have your favourite plant-based proteins delivered to your doorstep.
Founded in February 2016, truLOCAL is an innovative start-up in the foodtech space with over 55 employees and distribution warehouses located in Ontario, Alberta, British Columbia, Quebec and Illinois. The company’s founders appeared on the hit series Dragon’s Den in 2017 and found themselves in the enviable position of having several Dragons eager to invest in their business.
truLOCAL has been on a growth trajectory over the past four years serving customers throughout Ontario, BC, Alberta, Quebec and in 27 states in the USA. The company supports a growing email subscription and in 2020 sent out over 80,000 boxes to consumers.
“New partnerships like this continue to fuel our expansion plans, said Tara Haddad, Founder and CEO of Modern Plant-Based Foods. “Modern Meat products will be offered in truLOCAL’s curated plant-based boxes and as add-on items to subscription boxes delivered straight to consumers doorsteps. There is no doubt that people are after convenience and quality and through truLOCAL’s vast distribution network and consumer base we are closer to our goal of becoming a household name for great-tasting, nutritious and sustainable protein alternatives.”
“Fundamental to our core business model is the belief that consumers should shop local and strengthen our regional supply chain through both local farmers and suppliers,” states Mitch Cote, Regional Manager at truLOCAL. “We connect customers right to the source of the best quality products through a convenient online marketplace and I’m super excited to now offer some of the best quality plant-based products around as well.”
truLOCAL monthly meal deliveries eliminate last-minute trips to the store and keep your favourite healthy and delicious plant-based protein staples on-hand with convenient delivery. Modern Meat products are now available for purchase and delivery throughout British Columbia on the truLOCAL platform, www.trulocal.ca
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 Bars 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.
For further information, please contact:
Tanya Todd
Communications Director
604-395-0974
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 its business and prospects; the Company's objectives, goals or future plans; he Company’s sales growth, planned expansion, awareness of the Company’s brands, future sales and revenue growth, market size estimates and projections, the sales and growth potential of the partnership with truLOCAL, 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 Modern Meat 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.
