Interim Co-CEO Matthew Corridor Will Transition into an Advisory Function
Parimal Rana Appointed as New CEO
VANCOUVER, BC, July 4, 2022 /CNW/ – The Very Good Meals Firm Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or the “Firm“), has introduced that as a part of its succession plan, Matthew Corridor has stepped down as interim Co-Chief Government Officer and as a director of the Firm however will proceed to assist VERY GOOD in an advisory capability. Parimal Rana, a seasoned meals business skilled and Very Good’s Vice President of Operations, is assuming the position of Chief Government Officer and also will be a part of VERY GOOD’s board of administrators (the “Board“).
With right now’s announcement, Matthew Corridor commented on the progress VERY GOOD has made in latest weeks, and on the Firm’s management succession plan: “We have made notable headway in our effort to stabilize the enterprise and it is the precise time for Parimal to imagine the position of CEO. Contemplating Parimal’s deep understanding of the plant-based meals business, his spectacular operational background, and most significantly his confirmed management functionality inside VERY GOOD, he’s nicely ready to construct on the operational enhancements which were put in place and to understand VERY GOOD’S future development potential.”
Newly appointed CEO Parimal Rana specializes in scaling operations and driving firm development and has over 25 years of expertise within the meals manufacturing business and has labored at main meals corporations akin to Nature’s Path Meals, Dawn Soya Meals, CLS, Gardine and Daiya earlier than becoming a member of VERY GOOD in 2021. “It’s a privilege for me to take over as CEO. Matt’s interim management has resulted in a notable change of route and better stability for our enterprise, and we’re now nicely positioned to leverage our strengths and deal with future development”, stated Rana.
As a part of this management transition, Dela Salem, who briefly assumed the position of Interim Co-CEO alongside Matt Corridor in Could to assist information the Firm via key challenges, will return to focus her efforts solely on the Board.
The Firm right now additionally introduced that Invoice Tolany has stepped down from the Board for private causes. The Firm and the Board are working to fill the unbiased board seat emptiness created by Invoice’s departure.
The Firm thanks each Matt and Invoice for his or her contributions and desires them a lot success of their future endeavors.
About The Very Good Meals Firm Inc.
The Very Good Meals Firm Inc. is an rising plant-based meals know-how firm 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
Chief Government Officer
This information launch accommodates “forward-looking info” throughout the that means of relevant securities legal guidelines in Canada and “forward-looking statements” throughout the that means of the USA Non-public Securities Litigation Reform Act of 1995, together with Part 21E of the Securities Trade Act of 1934, as amended (collectively known as “forward-looking info”), for the aim of offering details about administration’s present expectations and plans referring to the long run. Readers are cautioned that reliance on such info is probably not applicable for different functions. Ahead-looking info could also be recognized by phrases akin to “plans”, “proposed”, “expects”, “anticipates”, “intends”, “estimates”, “could”, “will”, and related expressions. Ahead-looking info contained or referred to on this information launch consists of, however is just not restricted to, the Firm’s management succession plan, the anticipated advantages from the appointment of Parimal Rana as CEO and the Board’s work to fill the unbiased board seat emptiness. Ahead-looking info is predicated on various components and assumptions which have been used to develop such info, however which can show to be incorrect together with, however not restricted to, materials assumptions with respect to the Firm’s capability to precisely forecast buyer demand for its merchandise and handle its stock ranges, continued demand for VERY GOOD’s merchandise, continued development of the recognition of meat options and the plant-based meals business, no materials deterioration on the whole enterprise and financial situations, the profitable placement of VERY GOOD’s merchandise in retail shops, the Firm’s capability to stay listed on the Nasdaq, VERY GOOD’s capability to efficiently enter new markets and handle its worldwide enlargement, VERY GOOD’s capability to acquire crucial manufacturing gear and human assets as wanted, VERY GOOD’s relationship with its suppliers, distributors and third-party logistics suppliers, and administration’s capability to place VERY GOOD competitively. Though the Firm believes that the expectations mirrored in such forward-looking info are cheap, undue reliance shouldn’t be positioned on forward-looking info as a result of VERY GOOD can provide no assurance that such expectations will show to be right. Dangers and uncertainties that would trigger precise outcomes, efficiency or achievements of VERY GOOD to vary materially from these expressed or implied in such forward-looking info embrace, amongst others, the impression of, uncertainties and dangers related to destructive money circulate and future financing necessities to maintain and develop operations, restricted historical past of operations and revenues and no historical past of earnings or dividends, competitors, dangers referring to the supply of uncooked supplies, dangers referring to regulation on social media, enlargement of amenities, dangers associated to credit score amenities, dependence on senior administration and key personnel, availability of labour, normal enterprise threat and legal responsibility, regulation of the meals business, change in legal guidelines, rules and pointers, compliance with legal guidelines, dangers associated to 3rd social gathering logistics suppliers, unfavorable publicity or shopper notion, elevated prices on account of being a United States public firm, product legal responsibility and product recollects, dangers associated to mental property, dangers referring to co-manufacturing, dangers associated to enlargement into the USA; dangers associated to our acquisition technique, taxation dangers, difficulties with forecasts, administration of development and litigation in addition to the dangers related to the continued COVID-19 pandemic. For a extra complete dialogue of the dangers confronted by VERY GOOD, please consult with VERY GOOD’s most up-to-date Annual Info Kind filed with Canadian securities regulatory authorities at www.sedar.com and as an exhibit to the Kind 6-Okay filed with the SEC on April 1, 2022 and accessible at www.sec.gov. The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on info at present accessible. Any forward-looking info speaks solely as of the date of this information launch. VERY GOOD undertakes no obligation to publicly replace or revise any forward-looking info whether or not due to new info, future occasions or in any other case, besides as in any other case required by legislation. The forward-looking info contained on this information launch is expressly certified by this cautionary assertion.
Not one of the Nasdaq Inventory Market LLC, TSX Enterprise Trade, the SEC or every other securities regulator has both authorized or disapproved the contents of this information launch. Not one of the Nasdaq, the TSX Enterprise Trade or its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade), the SEC or every other securities regulator accepts duty for the adequacy or accuracy of this information launch.
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SOURCE The Very Good Meals Firm Inc.
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