TORONTO, Sept. 12, 2019 /CNW/ - GreenSpace Brands Inc. ("the Company") (TSXV: JTR) today announced that it has won significant new distribution for up to 6 SKU's in nearly 2000 stores in one of the largest US retail chains, and placed 17th on Canadian Business' Growth 500 list of Canada's fastest growing companies.
The distribution win brings 1058 new facings in Kroger stores across the US, including 716 new stores for the Go Veggie Classic Plain Cream Cheese and 342 new stores for the Go Veggie Lactose free Monterey Jack and Cheddar shreds. The distribution wins come from an annual review of the plant based cheese category.
"This distribution win is another example of the success that Go Veggie has started to see in US retail of late, even before we've made any major changes to the branding. The products themselves are world class and with some tweaks to formulas and the branding, our expectation is that Go Veggie will start to see double digit growth in the near future" says Matthew von Teichman, CEO of GreenSpace Brands. "With the upcoming launch of Riot Eats!, we will have both an incumbent brand with broad based support and loyalty in Go Veggie, as well as a super exciting new brand in the plant based cheese world that is Organic and non GMO, and melts better than almost any other product in the market, in Riot Eats!."
GreenSpace was also named to the Canadian Business 'Growth 500' list of Canada's fastest growing companies, coming in at #17 on that list. This represents the 4th consecutive year GreenSpace has made the list and the 2nd straight year in the top 20. GreenSpace grew 4529% over the last 5 year period.
About GreenSpace Brands Inc.
GreenSpace is a Canadian-based brand ideation team that develops, markets and sells premium natural food products to consumers across North America. GreenSpace owns Love Child, a producer of 100% organic food for infants and toddlers made with the purest, natural and most nutritionally-rich ingredients, Central Roast, a clean snacking brand featuring a wide assortment of nut and seed mixes, CEDAR, the leaders in the Canadian Cold Press Juice category and GO VEGGIE, one of the leaders in the US plant based dairy market. All brands are wholly owned and retail in a variety of natural and mass retail grocery locations across Canada.
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements made under the heading "Outlook" and other statements concerning the Company's 2019 objectives, strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements and there can be no assurance that actual results will be consistent with these forward-looking statements. Factors that could cause such differences include the cyclical nature of the construction and agriculture industries, changes in general economic conditions and interest rates, adverse weather, cost and availability of materials used to manufacture the Company's products, competitive developments, legislative and government policy changes, as well as other risk factors included in the Company's Annual Information Form dated August 22, 2018 under the heading "Risks and Uncertainties Related to the Business" and as described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. This list is not exhaustive of the factors that may impact the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements or levels of dividends and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change. Certain statements included in this press release may be considered "financial outlook" for purposes of applicable securities laws, and such financial outlook may not be appropriate for all purposes. All forward-looking statements in this press release are qualified by these cautionary statements. The forward-looking statements contained herein are made as of the date of this press release and except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE GreenSpace Brands Inc.
For further information: Matthew von Teichman, President & Chief Executive Officer, GreenSpace Brands Inc., Tel: (416) 934-5034 Ext. 200; Stuart Pasternak, Chief Financial Officer, GreenSpace Brands Inc., Tel: (416) 934-5034 Ext. 201