VANCOUVER, BC, September 11, 2021 / 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 announce that it will be launching a plant-based seafood division, Modern Seafood. Modern Seafood will focus on the research and development, production and manufacture of plant-based seafood alternatives. More specifically, the sub-division will seek collaborations with existing seafood companies interested in developing alternatives to quality seafood.
Modern Seafood’s main products will include its award-winning “crab cake” which has been the company’s number one seller since its inception. The modern “crab cake” is available on the shelves of retail stores and food service establishments across the country and is currently developing in United States and Australia. Modern Seafood’s new plant-based smoked salmon will be gluten, soy and GMO free.
“We recognize that there is a constant need for innovation to keep up with the rapid growth of the herbal sector and our company takes pride in keeping ahead of consumer demand and trends,” says Tara Haddad, founder of modern plant-based foods. The alternative seafood sector is still in its infancy and it is an area where we want to establish ourselves as industry leaders. Smoked salmon is extremely popular and widely consumed around the world, and we believe there will be a resurgence of interest in products that have been developed by chefs not manipulated by scientists ”,
With an increasing number of mainstream consumers adopting plant-based diets, grocery store sales of herbal products have reached $ 7 billion and grew 27% in the past year, according to retail data from SPINS, nearly double the growth rate of overall food sales in the United States, with seafood alternatives knowing also significant growth. The European smoked salmon market amounted to more than $ 4.2 billion annual growth of 2% from 2018.
“With alternative seafood companies around the world receiving at least $ 83 million of investors in 2020, compared to $ 1 million three years ago, it is evident that there is interest in the growth of this sector. As we move forward, sustainability for future generations is essential, as current reserves simply will not be able to meet consumer demand. We want to make a difference and turn the pendulum back “, says Cassidy mccord, Managing Director of Modern Plant-Based Foods.
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 in select restaurants and retailers across Canada including our own modern wellness bars located in Vancouver. We take a holistic approach to plant-based life 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 deliberately choose ingredients that are soy, gluten, nut and GMO free.
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.
Caution regarding forward-looking information
This press release includes 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 contained in this press release include, without limitation, statements regarding: the Company and the business and prospects of the Company; the objectives, goals or future plans of the Company; sales growth of the Company, planned expansion, brand awareness of the Company, future growth in sales and revenues, as well as the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions which, although believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events 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; the local and global market and economic uncertainties arising from the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other legal, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to secure retail 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 restoration and restoration partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the adequacy of our cash flow to meet liquidity needs; the additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this press release. Accordingly, the forward-looking statements discussed in this press release may not occur and could 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, one should not place undue reliance on such statements, which speak only as of the date of this press release, and no No guarantee can be given that these events will occur within the disclosed time frame or not 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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