News
The Very Good Food Company to Commence Trading on the NASDAQ
2021-10-11 07:00 ET - News Release
- VERY GOOD’s common shares are expected to begin trading on Nasdaq on Wednesday, October 13, 2021 under the ticker symbol “VGFC”.
- The 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.
VANCOUVER, British Columbia -- (Business Wire)
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 the Company’s application to list its common shares (“Shares”) on the Nasdaq Capital Market (“Nasdaq”) has been approved.
Trading on the Nasdaq is expected to commence on Wednesday, October 13, 2021 and the Shares will trade under the ticker symbol “VGFC”. The Shares will continue to be quoted on the OTCQB until trading commences on Nasdaq. VERY GOOD also will retain its listing on the TSX Venture Exchange under the symbol “VERY”.
“Trading on the Nasdaq is a mark of achievement and stature for qualified companies. Listed companies must meet financial and liquidity requirements and satisfy corporate governance and disclosure requirements on both an initial and continuing basis”, said Mitchell Scott, co-founder and CEO of The Very Good Food Company. “Listing our stock on the Nasdaq is an important milestone that builds on the positive momentum from our increased scale and distribution, and new product launches. Along with increasing our visibility in the marketplace, we anticipate the listing to improve the liquidity of our stock, further broaden our institutional shareholder base and ultimately enhance long-term shareholder value. Additionally, we expect this listing to further enhance our ability to implement our multi-channel growth strategy into the US and Europe and optimize the Company’s return on invested capital.”
Torys LLP advised VERY GOOD with respect to the Nasdaq listing.
The Company is also pleased to announce the appointment of Justin Steinbach to the VERY GOOD board of directors. Mr. Steinbach has been granted an aggregate of 100,000 stock options under the Company’s stock option plan, last approved by shareholders at VERY GOOD’s annual general meeting held on June 29, 2021. The options granted to Mr. Steinbach are exercisable at a price of $3.41 for a period of five years until October 7, 2026 and will vest in equal instalments every six months over a period of 24 months with the first vesting to occur on May 7, 2022.