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Modern Meat Strengthens its Brand through SPUD, a Leading Food Delivery Service

C.MEAT

VANCOUVER, BC , Oct. 21, 2020 /CNW/ - Modern Meat Inc. , (CSE: MEAT) (" Modern Meat ") or (the " Company "), an award winning plant-based meat manufacturer, announced today that it will be offering its products to consumers through SPUD's online grocery delivery service, as well as at their two brick and mortar locations, Be Fresh Cypress and Organic Acres in Vancouver, British Columbia .

Modern Meat Inc. Logo (CNW Group/Modern Meat Inc.)

Sustainable Produce Urban Delivery, or SPUD, is an online grocery service operating in British Columbia and Alberta that predominantly focuses on selling sustainable, fresh, local, organic produce and groceries from farmers and nearby producers. Headquartered in Vancouver , the company was founded in 1997 and has expanded into the largest online grocery company in Canada, employing over 700 people across all its markets. Vertically integrated secondary product lines such as Be Fresh and Organic Acres allow SPUD to reduce food costs and waste, which is both environmentally responsible and financially attractive.

"It's exciting to see Modern Meat being so well received across Western Canada ," said Tara Haddad , CEO of Modern Meat. "Consumer demand for online grocery shopping is growing and to have SPUD list our portfolio of plant-based meat alternatives introduces us to a wider consumer base and expands our brand's footprint. Their scale, technology and unique infrastructure allow them to give customers unparalleled access to a broad range of products."

The two companies recognize that they are aligned in some very important ways. Both have a strong focus on nutritious whole foods and place tremendous weight on offering sustainable options for customers. In today's fast-paced life, SPUD.ca offers the convenience of home delivery and Modern Meat makes healthy eating easier SPUD is also committed reducing food waste and has the lowest (0.5%) food waste of any grocery store in Canada . *

"Our goal is to make our plant-based proteins more accessible, so we will continue to drive expansion efforts to integrate Modern Meat in a wide array of retailers, independent grocery stores, e-commerce, and food service outlets," explains Tara. "I am proud that in such a short time we have made many strategic partners and have gained a loyal following of our nutritious products. As we see consumer preferences shift towards healthier and more sustainable food choices, I believe Modern Meat will grow to be the plant-based meat alternative of choice for flexitarians and carnivores alike."

A complete list of where to purchase is available on the Modern Meat website:
www.themodernmeat.com .

*( www.spud.ca )

About SPUD

SPUD is an online grocery shopping service delivering fresh produce, local, organic, and sustainable foods in Metro Vancouver, Kelowna , Victoria , Calgary and Edmonton . Since 1997, SPUD has been committed to providing simple access to real, healthy, local food. This access has been accomplished by building trusting relationships with farmers, ranchers, fishers, bakers, and artisans, to make it easy for families to have the freshest ingredients and the best products delivered directly to their front doors. SPUD is also a proudly Certified B Corporation, which acts to consider the impact of business decisions on employees, customers, suppliers and the environment.

About Modern Meat

Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMO's. Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using only natural 100% plant-based ingredients.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: Modern Meat and Modern Meat's business and prospects; the Company's objectives, goals or future plans; future growth of the alternative meat sector and the Modern Meat market share, Modern Meat sales growth, demand for Modern Meat's products and the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com ; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE Modern Meat Inc.



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