Modern Plant-Based Foods Expands Product Offerings of its Meat Alternatives to Calgary Co-Op Stores

VANCOUVER, BC, May 31, 2021 /CNW/ - Modern Plant-Based Foods Inc., (CSE: MEAT) (OTC: MDRNF) ("Modern Plant Based Foods") or (the "Company"), an award-winning plant-based food company, is pleased to announce that Modern Meat, its meat alternative line of products, is further expanding its presence in Alberta by reaching over 400,000 potential customers through Calgary Co-Op retail outlets.  The grocery stores will begin to stock their shelves with Modern Crab-less Cakes by June 7^th, 2021.

Local farmers and ranchers opened the first Co-Op store in Calgary over 60 years ago. The concept of independent stores being owned by customers/members gained traction and since then the outfit has grown to 23 grocery stores and over 3,500 employees with further expansion plans underway. Calgary Co-Op's offer one-stop shopping and a growing range of products and services including local fresh food, pharmacy, fuel, wine, spirits, beer, cannabis, and home health care.

"We are excited to announce a new retail partnership for our gourmet line of plant-based products," said Tara Haddad, Founder and CEO of Modern Plant-Based Foods. "The Calgary Co-Op has a reputation of offering a carefully curated selection of top-quality Canadian products and we are thrilled to be listed with them."

Modern Meat continues to make steady progress penetrating the Western Canadian market and now has several trusted retail partners to help drive the brand.

"The addition of Calgary Co-Op stores is another step forward in our ongoing national expansion efforts," stated Chris Parkinson, Brand and Relationship Manager at Modern Plant-Based Foods.  "This is a great opportunity for us to expand our brand footprint and awareness with the goal of becoming a household name among Canadian consumers.  We expect the stores to be a strong contributor toward our revenue growth as well as onboarding a future steady stream of new retailers throughout the balance of fiscal 2021."

About Modern Plant-Based Foods

Modern Plant-Based Foods is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups and vegan snacks.  Our products are available at select restaurants and retailers across Canada including our own Modern Wellness Bars located in Vancouver.  We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste.  We want people to feel good about the food they eat which is why we are deliberate in choosing ingredients free of  soy, gluten, nuts and GMOs.

Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural 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: the Company and the Company's business and prospects; the Company's objectives, goals or future plans; the Company's sales growth, planned expansion, awareness of the Company's brands, future sales and revenue growth, 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 ability to obtain retail partners to distribute Company products, 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 Plant Based Foods Inc.