The Very Good Food Company Announces Application to List on NASDAQ
04 Octobre 2021 - 1:00PM
Business Wire
- VERY GOOD has submitted an initial application to list on the
Nasdaq.
- Nasdaq listing is expected to increase VERY GOOD’s visibility
in the marketplace, improve liquidity, broaden and diversify
shareholder base, and enhance long-term shareholder value.
- VERY GOOD’s business strategy focused on global expansion into
the US and Europe is anticipated to accelerate with an US
listing.
The Very Good Food Company Inc. (TSXV: VERY.V) (OTCQB: VRYYF)
(FSE: 0SI) ("VERY GOOD" or the "Company"), a leading
plant-based food technology company, is pleased to announce that it
has submitted an initial application to list on The Nasdaq Stock
Market LLC ("Nasdaq"). The Company is pursuing a Nasdaq
listing to enhance its investor profile with the goal of driving
shareholder value. This initiative allows the Company to accelerate
its business strategy focused on global expansion into the United
States (“US“) and Europe, while attracting institutional and retail
investors as well as potential M&A opportunities. VERY GOOD is
seeking to further expand its retail and eCommerce footprint
organically and through strategic business opportunities that
complement its product category expansion and distribution plans.
VERY GOOD submitted its application to list at the beginning of
September and is in the final stages of Nasdaq’s review
process.
“A Nasdaq listing represents a significant milestone in our
growth as a publicly-traded company,” said Mitchell Scott, CEO and
Co-Founder of The Very Good Food Co. “We believe that listing in
the US will unlock various opportunities to enhance corporate
visibility, increase liquidity and broaden overall awareness of The
Very Good Food Co. to a larger investor base while driving value
for our shareholders.”
The listing of the Company's common shares ("Shares") on
Nasdaq remains subject to the review and approval of the listing
application and the satisfaction of all applicable listing and
regulatory requirements, including approval of a registration
statement to be filed by the Company with the U.S. Securities and
Exchange Commission (the “SEC”). The Company will continue
to maintain the listing of its Shares on the TSX Venture Exchange
under the symbol "VERY".
About The Very Good Food Company Inc.
The Very Good Food Company Inc. is an emerging plant-based food
technology company that produces nutritious and delicious
plant-based meat and cheese products under VERY GOOD's core brands:
The Very Good Butchers and The Very Good Cheese Co.
www.verygoodfood.com
OUR MISSION IS LOFTY, BADASS 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.
Forward-Looking Information
This news release contains forward-looking information for the
purpose of providing information about management's current
expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes. Any such forward-looking information may be
identified by words such as "proposed", "expects", "intends",
"may", "will", and similar expressions. Forward looking information
contained or referred to in this news release includes statements
relating but not limited to: the potential listing of VERY GOOD's
Shares on Nasdaq, the timing thereof and the ability to satisfy all
applicable listing and regulatory requirements (including, but not
limited to, satisfaction of Nasdaq’s minimum bid price
requirements, and approval of the registration statement to be
filed with the SEC), the benefits to be provided to the Company by
a Nasdaq listing, opportunities for VERY GOOD's growth, VERY GOOD’s
exposure to international investors and the liquidity of its
securities and any regulatory or other approvals required in
connection therewith. Forward-looking information is based on a
number of factors and assumptions which have been used to develop
such information, but which may prove to be incorrect including,
but not limited to, material assumptions with respect to VERY
GOOD’s ability to obtain a listing on Nasdaq, the condition of
capital markets, the availability of sufficient financing on
reasonable terms to fund VERY GOOD's capital and operating
requirements, the continued strong demand for VERY GOOD's products,
the successful placement of VERY GOOD’s products in retail stores
and continued e-Commerce growth, VERY GOOD’s ability to
successfully enter new markets and manage its international
expansion, VERY GOOD’s ability to increase production capacity and
obtain the necessary production equipment, the availability of
labour as well as the accuracy of construction schedules and cost
estimates for the commissioning of production lines at VERY GOOD’s
Rupert and Patterson facilities and the timely receipt of required
permits, VERY GOOD’s relationship with its suppliers, distributors
and third-party logistics providers, and the Company's ability to
position VERY GOOD competitively. Although the Company believes
that the expectations reflected in such forward-looking information
are reasonable, undue reliance should not be placed on
forward-looking information because VERY GOOD can give no assurance
that such expectations will prove to be correct. Risks and
uncertainties that could cause actual results, performance or
achievements of VERY GOOD to differ materially from those expressed
or implied in such forward-looking information include, among
others, the impact of, uncertainties and risks associated with the
ongoing COVID-19 pandemic, negative cash flow and future financing
requirements to sustain and grow operations, limited history of
operations and revenues and no history of earnings or dividends,
expansion of facilities, competition, availability of raw
materials, dependence on senior management and key personnel,
general business risk and liability, regulation of the food
industry, change in laws, regulations and guidelines, compliance
with laws, unfavourable publicity or consumer perception, product
liability and product recalls, risks related to intellectual
property, difficulties with forecasts, management of growth and
litigation. For a more comprehensive discussion of the risks faced
by VERY GOOD, please refer to VERY GOOD's most recent Annual
Information Form filed with Canadian securities regulatory
authorities at www.sedar.com. The forward-looking information in
this news release reflects the current expectations, assumptions
and/or beliefs of the Company based on information currently
available. Any forward-looking information speaks only as of the
date on which it is made and, except as may be required by
applicable securities laws, VERY GOOD disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
None of the Nasdaq, TSX Venture Exchange, the SEC or any other
securities regulator has either approved or disapproved the
contents of this news release. None of the Nasdaq, the TSX Venture
Exchange or its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange), the SEC or
any other securities regulator accepts responsibility for the
adequacy or accuracy of this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20211004005313/en/
Mitchell Scott Chief Executive Officer The Very Good Food
Company Inc.
Kevin Matheson Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com Phone: +1 855-472-9841
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