The Very Good Food Company (NASDAQ: VGFC) announced the launch of two new plant-based products: Butcher’s Select Spicy Meatballs and The Very Good Steak. These additions aim to meet growing consumer demand for diverse, flavorful meat alternatives. The Spicy Meatballs follow the success of the award-winning Mmm...Meatballs, while the new steak product is designed to compete in the high-end plant-based market. Both products will soon be available in retail settings, enhancing the company’s offerings in the plant-based meat sector.
The Very Good Food Company has successfully closed a registered direct offering of 15,000,000 units at US$2.00 each, generating approximately US$30,000,000 in gross proceeds. Each unit consists of one common share and one-half of a common share purchase warrant, exercisable at US$2.35 until October 19, 2026. The company plans to utilize the funds to scale operations, expand geographically, pursue acquisitions, invest in R&D, enhance marketing efforts, and cover general corporate expenses. Alliance Global Partners led the placement of this offering.
The Very Good Food Company (NASDAQ: VGFC) has reported a remarkable 126% increase in US retail distribution over the last four weeks, expanding to 1,060 outlets across North America. The company recorded a year-to-date sales milestone of 15,024 units of its limited-edition Stuffed Beast, representing a 1.5x increase compared to fiscal 2020. The product will soon be available in over 250 stores in the US, including major retailers like Wegmans and Earthfare, in time for the holiday season.
The Very Good Food Company has announced a registered direct offering of approximately 15,000,000 units at a price of US$2.00 per unit, aiming to raise around US$30,000,000. Each unit consists of one common share and half a warrant, with warrants exercisable at US$2.35 for five years. Proceeds will be utilized for operational scaling, geographic expansion, acquisitions, R&D, and marketing. The offering is set to close around October 19, 2021 and is contingent on regulatory approvals.
The Very Good Food Company (VGFC) announced a pilot launch of its flagship brand, The Very Good Butchers, in location value="LC/cn" idsrc="xmltag.org"China starting in early 2022. This expansion aims to meet the rising consumer demand for plant-based products and broaden its market presence. The Company is also collaborating with local partners to establish effective supply chain logistics. Additionally, VGFC has engaged Life Water Media for investor relations services to enhance awareness, with a compensation of USD$100,000 for their marketing efforts.
The Very Good Food Company has commenced trading on the Nasdaq Capital Market under the ticker symbol VGFC as of October 13, 2021. The company retains its listing on the TSX Venture Exchange under the symbol VERY. Additionally, VERY GOOD has engaged OneFluent Inc. for investor relations services, including a social media influencer campaign, with a cash compensation of USD$12,995 per month and an influencer spend of USD$250,000. This initiative aims to enhance investor awareness and expand the company's reach.
Very Good Food Company is set to begin trading on Nasdaq under the ticker symbol VGFC on October 13, 2021. This listing aims to enhance visibility, liquidity, and shareholder value. The company anticipates that its global expansion strategy into the US and Europe will accelerate post-listing. The approval indicates that Very Good has met necessary financial and governance criteria. Additionally, Justin Steinbach has joined the board with stock options granted at $3.41.