Specializing in a Variety of Plant-Based Meats & Assortment of Vegan Foods
Toronto, Ontario – January 19, 2021 – Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) (“Plant&Co.” or the “Company”), a modern health and wellness company curating delicious plant-based foods, is pleased to announce it has acquired various Canadian corporations doing business as YamChopsTM ~ Grown not raised ~, which specializes in the preparation, distribution, and retail sales of over 17 proprietary plant-based meats, chicken, pork, fish, and various other vegan style food products in both a business-to-business (B2B) and business-to-consumer (B2C) revenue models.
Once featured on TV’s famous Dragons Den and named NOW Magazine Reader’s Choice Award for “Best Butcher & Best Deli” in Toronto! YamChops is considered one of North America’s first and Canada’s only plant-based butcher shop. For over 12 successful years, it has specialized in the development, preparation, and distribution of plant-based meats and other vegan style food products. YamChops has a retail location in the heart of Toronto’s food district and it enjoys popular demand on four of the most popular food delivery platforms: Uber Eats, Skip the Dishes, Corner Shop and Ritual One.
“The acquisition of YamChops was part of the company’s M&A strategy to instantly arrive at the point of in-market sales of a known, trusted and established plant-based brand. This acquisition is truly transformational in adding to our growing portfolio of plant-based products and companies,” said Shawn Moniz, CEO of Plant&Co. Brands. “With over a decade of product development, preparation, trademarks and distribution experience in the emerging plant-based food market, YamChops is known for its high-quality foods that taste great and customer service that is second to none, placing Plant&Co. in a leading position in the plant-base sector. Creating delicious plant-based foods that compete with meat is an art form which the YamChops’ team has perfected. We have a great opportunity to leverage the recent growth in popularity of these healthy meat and dairy product alternatives and expand our newly acquired business across North America and beyond.”
Plant&Co’s strategy is to utilize the existing distribution networks and B2B relationships for large and bulk ordering of plant-based product already in place with nation-wide distributors, such as Grande Cheese, United Natural Foods Inc (UNFI), Whole Foods, London Drugs, Organic Garage, Nature’s Emporium, Choices Markets, The Big Carrot, Natural Foods Ambrosia, and Natures Fare Markets, to rapidly grow and expand the 17 proprietary plant-based products of YamChops to new and emerging markets not only in Canada but to the explosive US markets. YamChops currently has B2B distribution to Sobey’s London, Pusateri’s, and Nature’s Emporium.
“Our new YamChops team will work closely with our Holy Crap team and advisory board to leverage the physical and digital footprints of each company’s existing customer following (numbering in the tens of thousands of customers unique to each brand). By marketing a consolidated umbrella of products through targeted sales channels and new and established footholds in the emerging plant-based North American markets, we will be able to cross-pollinate resources and amplify sales within Plant&Co’s family of brands and products,” continue Mr. Moniz.
he YamChops plant-based butcher shop is set up like any neighbourhood butcher shop. Customers can find a butcher counter with a glass case full of vegetarian and vegan delicacies on display. These delicious food products have been perfected over the years and include YamChops’ very own plant-based:
• Beef, chicken and lamb burgers,
• Sausages, ribs and bacon, and
• Vegetarian spin-offs of “chicken teriyaki” and “tuna salad” made
YamChops also offers foods beyond the plant-based butcher block such as condiments to complement its main attractions. Chutneys, pickled vegetables and sauces like Mongolian beef sauce are available at their shops. YamChops also offers a line of juices called “Au Jus”.
YamChops’ success was recognized in a recent Wall Street Journal article, naming the company as a leader in the race to for a piece of the faux-meat market, being named beside a titan of the business, Tofurky.
YamChops was considered a trail blazer when it established operations in 2008 and began the preparation of plant-based meats and food specialty products. Today, as plant-based food products have entered the mainstream and are included on the shopping list of many shoppers across North America, YamChops has firmly established its leadership position the marketplace and is poised for growth. The sales of plant-based meats in North America, a food category that did not exist a decade ago, grew to almost US $800 million in 2019, up 37 per cent from 2017. According to research firm Euromonitor International, plant-based meats sales could reach over US $2.5 billion by 2023.
YamChops offers high-quality plant-based food products that appeal to all types of eaters: vegans, vegetarians, flexitarians and those who are simply choosing to reduce their meat, fish and dairy consumption. It is looking to take its unique and high-quality food products coupled with unmatched customer service beyond the market of Toronto to the rest of Canada and across North America.
On January 18, 2021, the Issuer entered into a definitive share purchase agreement (the “Agreement”) with 2574578 Ontario Inc. (“257”) and JDB Innovations Ltd. (“JDB”, and together with 257, “YamChops”) and each of the shareholders of YamChops (the “Vendors”) to acquire all of the issued and outstanding shares of YamChops (the “Transaction”).
As consideration for the Acquisition of YamChops, the Company (i) made an aggregate cash payment of $608,446.26 to the Vendors (the “Cash Payment”); (ii) issued 344,828 common shares to the Vendors (the “Consideration Shares”); and (iii) settled certain outstanding debts of YamChops held by third-parties in the amount of $161,553.74 (the “Debt Settlement”). The Consideration Shares are subject to voluntary pooling restrictions from which 100% of the Consideration Shares will be released on February 17, 2021.
The Company is at arms-length from YamChops and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with the completion of the Transaction, the Company has issued 109,589 common shares to an arms-length third party who assisted with facilitating the Transaction.
The Company also announces it has granted incentive stock options to purchase a total of 750,000 common shares at an exercise price of $0.78 per share for a period of two years to certain directors and officers in accordance with the provisions of its stock option plan.
YamChops is a plant-based butcher shop based in Toronto, Ontario. Vegans, vegetarians, flexitarians and even meat enthusiasts love visiting the beautifully curated shop located in the heart of Toronto’s food district. Whether customers sample YamChops’ Tunaless “Tuna”, Chick*n Schnitzel, Szechuan “Beef”, Montreal Style “Steak”, or browse their vegan grocery assisted by its knowledgeable staff, customers will have an unforgettable experience at YamChops vegan butcher shop. YamChops’ mission is to provide extraordinary plant-based foods and provide extraordinary service to its customers, with a vision to expand its plant based culinary experience and make YamChops the destination of choice for all consumers. For more product information please visit: www.YamChops.com.
About Plant&Co. Brands Ltd.
Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) is modern health and wellness company curating delicious plant-based foods. For more information please visit: www.PlantandCo.com.
For additional information, please contact:
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. “Forward-looking information” in this news release includes information about the expectations, intentions, plans and future actions of the Company and YamChops. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Plant&Co. or YamChops described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.
IMPORTANT NOTICE AND DISCLAIMER
This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by PLANT & CO BRANDS LTD. to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of five hundred thousand US dollars to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.
CHANGES IN SHARE TRADING AND PRICE
Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.
NO OFFER TO SELL OR BUY SECURITIES
This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.
Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position.
This communication is based on information generally available to the public and on an interview conducted with the company’s CEO, and does not contain any material, non public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.
NO FINANCIAL ADVICE
The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal, and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.
FORWARD LOOKING STATEMENTS
This communication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.
INDEMNIFICATION/RELEASE OF LIABILITY
By reading this communication, you acknowledge that you have read and understand this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.
All trademarks used in this communication are the property of their respective trademark holders. Other than valuethemarkets.com, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than valuethemarkets.com.
valuethemarkets.com and Digitonic Ltd and our affiliates are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above. This article does not provide any financial advice and is not a recommendation to deal in any securities or product. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.
ValueTheMarkets do not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. ValueTheMarkets have been paid to produce this piece by the company or companies mentioned above. Digitonic Ltd, the owner of valuethemarkets.com, has been paid for the production of this piece by the company or companies mentioned above.