Health and Wellness Stocks: The Very Good Food Company (CSE: VERY) (OTC: VRYYF) Announces Appointment of New Chief Financial Officer
Vancouver, British Columbia - September 22, 2020 (Newsfile Corp.) (Investorideas.com Newswire) The Very Good Food Company Inc. (CSE: VERY) (OTC: VRYYF) (FSE: 0SI) ("VGFC" or the "Company") is pleased to announce the appointment of Kamini Hitkari as the Company's new Chief Financial Officer. Hitkari brings extensive experience in developing and leading financial strategy in dynamic, hyper-growth industries.
CEO Mitchell Scott commented: "We are excited to welcome Kamini to Very Good Food as we continue to scale operations and expand to the United States. Her experience, combined with her knowledge of the CPG industry and involvement in scaling high-growth companies, will be an important asset as we enter our next phase of growth."
Hitkari has more than 15 years of corporate finance experience and during that time has held progressively senior finance roles with public companies. Most recently, Hitkari served as the Chief Financial Officer of Experion Holdings Ltd., where she led corporate and financial strategy and helped launch Experion's leading brand, Citizen Stash, across Canada, achieving significant revenue growth. Prior to that, she was the Vice President of Strategic Finance with Aurora Cannabis where she was a key contributor in over ten strategic transactions, ranging from $1 million to $2.6 billion, including valuation, risk assessment and integration activities.
Hitkari succeeds Drew Bonnell, who has served as a director of the Company and Chief Financial Officer since 2019 and will remain on the board and continue to serve as Corporate Secretary, strategic advisor and project consultant to the Company.
CEO Mitchell Scott commented: "We are grateful to Drew for his contributions and leadership over the past year during which he was instrumental in the successful completion of our IPO and recent bought deal prospectus offering. Drew joined VGF in July 2019 with a mandate, among other things, to lead us through the going public process. As we are now well underway on our journey as a public company it is a good time for a CFO transition to allow Drew to resume his prior projects".
In connection with her appointment Hitkari has been granted 250,000 options exercisable at a price of $1.68 until September 21, 2025.
For further information, please contact:
Chief Executive Officer and Director
Corporate Communications and Investor Relations
Phone: +1 855-472-9841
About The Very Good Food Company
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Our mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. To date we have developed a core product line under The Very Good Butchers brand.
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not be limited to: management's belief that the proposed California Facility will significantly increase production capacity and support growth in the Company's wholesale and ecommerce sales in the United States; the Company's expectation that the California Facility can be brought online quickly; the positive attributes of the California Facility including its location and existing infrastructure and the synergies and cost savings the Company expects to derive therefrom; and the current strong demand for the Company's products.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; and the impact of and risks associated with the ongoing COVID-19 pandemic. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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