They're spending money like a drunkin sailor . Expanding too fast has killed off many new companies . We will see if they can beat the odds .
This seems like a lot of money for one month .
" The Agreement provides for an initial term from October 12, 2021 to November 10, 2021 following completion of which VERY GOOD and Life Water have the option to mutually extend the Agreement, unless otherwise terminated in accordance with its terms. Cash compensation for Life Water's services will be USD$100,000. "
VANCOUVER -- (Business Wire)
The Very Good Food Company Inc. (TSXV: VERY.V) (NASDAQ: VGFC) (FSE: 0SI) ("VERY GOOD" or the "Company"), a leading plant-based food technology company, today announced its plans for a pilot program in China for the beginning of 2022. VERY GOOD will offer its carefully crafted plant-based meats under its flagship brand: The Very Good Butchers.
“We’ve seen an increase in consumer demand for plant-based foods in China and we’re thrilled to be introducing our plant-based meat alternatives on a different continent,” said Mitchell Scott, co-founder and CEO of The Very Good Food Company. “We’re guided by making plant-based eating accessible and approachable for all, and this is a significant milestone for us as we look to increase distribution to a brand-new geographic region and reach a new consumer base. This move is the perfect next step for us as we’re continuing to grow and become a global brand, accessing new markets and raising the plant-based meats bar all around the world – from North America, to Europe, and now Asia.”
VERY GOOD is working with partners in China to assess the importation of its products and supply chain logistics to execute a successful plan. The Company is executing on its larger growth strategy and the new pilot launch in China is only the beginning.
Marketing & Investor Relations Update
VERY GOOD today also announced that it has retained TD Media, LLC d/b/a Life Water Media ("Life Water Media") to provide investor relations services pursuant to a campaign agreement (the "Agreement"). Life Water has been engaged to assist with expanding investor awareness of VERY GOOD and the Company’s business through digital marketing campaigns.
The Agreement provides for an initial term from October 12, 2021 to November 10, 2021 following completion of which VERY GOOD and Life Water have the option to mutually extend the Agreement, unless otherwise terminated in accordance with its terms. Cash compensation for Life Water's services will be USD$100,000. Life Water is arm's length to VERY GOOD and has no interest, directly or indirectly, in VERY GOOD or our securities and has no right or intent to acquire such an interest. Life Water does not hold shares of VERY GOOD and will not receive any securities of VERY GOOD as compensation. VERY GOOD will pay any compensation owing to Life Water from available working capital.