VANCOUVER, BC, Jan. 24, 2023 /CNW/ - The Good Flour Corp. (CSE: GFCO) (OTCQB: GFCOF) (FSE: 3KZ) ("GFCO") today announced that GFCO products are now available in 940 retail locations across the United States and Canada. In the second half of 2022, GFCO began implementing strategies designed to expand GFCO's retail footprint, which immediately translated into new retail distribution of its products with industry leaders such as Sprouts Farmers Market, Heinen's Grocery Store, and one of North America's and the world's largest retailers (see press release here).
"We expect to soon reach the 1,000-store milestone, and while that is a tremendous accomplishment, we are only scratching the surface of the opportunity at hand as people adopt healthier lifestyles and become increasingly aware of clean labels and allergen-free foods," said Matthew Clayton, Chief Executive Officer at The Good Flour Corp. "The fact that we've experienced about 95 percent of our retail growth in the last three months is a testament to the quality of our team, products, and strategies."
GFCO is building its North American presence as a disruptor to the gluten-free (GF) market through three primary channels: food service, retail, and private label. Founded by chef Jen Peters and chef Hamid Salimian, both of which worked in Michelin restaurants, GFCO's history is rooted in business-to-business operations supplying restaurants across Canada and the U.S. with high quality GF products. As GFCO continues expansion in that market segment, management is focusing its efforts on simultaneously widening the retail footprint, both horizontally by expanded distribution of existing products and vertically by developing new products, including a new GF Protein Pancake & Waffle Mix superfood. GFCO is fully integrated, controlling every aspect of the manufacturing process in-house to high levels of certification, which has prompted interest in white labeling products for others where GFCO can further monetize its new high-speed packaging system.
GFCO's mission is to provide a gluten-free, allergen free, hassle-free all-purpose baking flour blend that allows individuals with gluten and other food allergies to enjoy life without giving up their favorite foods or settling for low-quality alternatives. GFCO also provides gluten and allergen free fried chicken batter, fish & chip batter, pizza & pasta mix, tempura batter, pancake and waffle blend, cake mix and pizza crusts.
For additional information on The Good Flour Corp. please refer to www.goodflour.co.
This news release contains "forward-looking information" concerning anticipated developments and events related to GFCO that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to demand for GFCO's products, expectations for additional stores to distribute GFCO products, white label opportunities and GFCO's future sales and business objectives.
In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, the timely receipt of regulatory approvals; the ability to source ingredients; the ability to attract qualified management and staff; the ability to effectively expand manufacturing and production capacity; the success of market initiatives and the ability to grow brand awareness; the ability to distribute Company's products; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners and GFCO will continue to have access to financing until it achieves profitability. While GFCO considers these assumptions to be reasonable, they may be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business, economic and social uncertainties; risks associated with supply chain for machinery and equipment; litigation, availability of key product ingredients; legislative, environmental and other judicial, regulatory, political and competitive developments; failure to effectively expand production capacity; the ability to obtain retail partners to distribute Company's products; failure to attract, maintain and expand relationships with key restaurant and food service partners; changing consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; failure to attract qualified management and staff, labour disputes; and the additional risks identified in the "Risk Factors" section of GFCO's filings with applicable Canadian securities regulators.
Although GFCO has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, GFCO does not undertake any obligation to publicly update forward-looking information.
SOURCE The Good Flour Corp.
For further information: investors@goodflour.co, 604-423-4400
