TORONTO, May 28, 2018 /CNW/ - GreenSpace Brands Inc. ("GreenSpace" or "the Company") (TSXV: JTR) recalled seven Savory Organic baby food pouches and discusses the timeline relating to the recall, the potential implications for babies who consumed the affected pouches and the financial implications to GreenSpace.
Key Timeline of the Recall:
- On Saturday May 26th, GreenSpace was contacted by the Canadian Food Inspection Agency ("CFIA") regarding the results from the testing of products that showed the presence of minute holes in a limited number of Love Child 'savory' pouches, as well as those pouches of a competitor.
- It was determined that in the limited situation where packaging damage is present, a risk of early spoilage or mold forming in the pouch existed.
- GreenSpace and the CFIA agreed to issue a voluntary recall to ensure that no babies were affected by the packaging fault and that the product in market was of the best possible quality.
- On Saturday evening, out of an abundance of caution, a recall was issued for all seven 'savory' pouches that were in market, regardless of when it was manufactured and regardless of whether any defects were visually present.
- Initiated on Saturday, immediately following the recall notice and going forward, GreenSpace staff have been answering calls, emails and social media posts reassuring consumers that we will take full responsibility for the problem and will support a full refund at the store of purchase and/or send coupons for new products.
- There have been no adverse health effects reported by the CFIA
"There is absolutely nothing more important to us than the health of the babies who consume our Love Child products. When the CFIA informed us of the results of their testing on the pouches, we immediately put into effect our recall protocol and withdrew the products from the market." says Matthew von Teichman, CEO of GreenSpace Brands. "The health risks associated with the packaging defect are not due to the presence of serious pathogens, but rather the possibility of early spoilage and potentially mold forming which in a small subset of cases, could cause vomiting and diarrhea. We are not willing to have inferior product in the market, regardless of the severity of the associated issue, and took the action to recall all products that could be affected. We pride ourselves on the quality and safety of the products we produce, and when we find we have an issue, we will not hesitate in rectifying it as quickly as possible."
The affected products represent 7 of the 22 pouches that Love Child has in market and less than 2% of the overall sales of GreenSpace. The GreenSpace quality team is working with the contract manufacturer to make sure this issue is resolved and new controls and processes have been initiated to ensure this issue is not repeated. The team is focused on ensuring we have the best quality 'savory' pouches back onto shelves for our loyal consumers as quickly as possible. Costs associated with the recall will be absorbed by the contract manufacturer and/or recall insurance.
About GreenSpace Brands Inc.
GreenSpace is a Canadian-based brand ideation team that develops, markets and sells premium natural food products to consumers across Canada and the United States. Greenspace owns and operates the following brands: Love Child Organics, one of the fastest growing brands in Canada and a producer of 100% organic food for infants and toddlers made with the pure, natural and most nutritionally-rich ingredients; Central Roast, a clean snacking brand that is one of the leading natural food brands in Canada; Rolling Meadow Dairy, Canada's leading grass fed dairy, delivering premium fluid and cultured products across Canada; Life Choices which features premium convenience meat products made with grass fed and pasture raised meats without the use of added hormones and antibiotics; Kiju, the Canadian market leader in the shelf stable organic juice segment; Cedar, the Canadian leader in cold pressed and gut health focused fresh juices and Go Veggie, one of the leading brands in North America in the emerging plant based dairy category. All brands are wholly owned and retail in a variety of natural and mass retail grocery locations across Canada and the United States.
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 2017 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 16, 2016 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.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE GreenSpace Brands Inc.
For further information: Matthew von Teichman, President & Chief Executive Officer, GreenSpace Brands Inc., Tel: (416) 934-5034 Ext. 200; Dennis Fong, Investor Relations, LodeRock Advisors Inc., Tel: (416) 283-9930