Modern Meat Introduces Vegan Cheese Line, kitsCheeze
VANCOUVER, BC, Feb. 25, 2021 /CNW/ - Modern Meat Inc., (CSE: MEAT) (" Modern Meat ") or (the " Company "), an award-winning plant-based food manufacturer, is pleased to announce that its wholly owned subsidiary, kitskitchen Health Foods Inc. will soon be launching a selection of dairy-free artisan cheeses. Currently, four plant-based cheeses are being developed under the moniker kitsCheeze.
The introduction of kitsCheeze is a continued demonstration of Modern Meat's commitment to growing its product line organically, from research and development through to product launch. According to Research and Markets (Sept. 2020), the vegan cheese market, valued at USD $1.23 billion in 2019, is expected to reach a total market size of USD $4.42 billion by 2027, with many dairy consumers looking to switch to healthy, lower calorie alternatives.
kitsCheeze will launch with four cheese alternatives including a Crumbled Parmesan, Mozzarella Brine, Cheddar Cheeze, as well as a variety of Cheeze Sauces including a creamy mac n cheeze recipe, and a tangy and spicy pickled jalapeno queso and nacho sauce.
"We developed the new vegan cheeses to broaden our plant-based offering even further and demonstrate that there's no need for compromises on taste and flavour when it comes to vegan eating and cooking," stated Tara Haddad, Founder and CEO of Modern Meat. "Creating premium quality plant-based cheeses was a natural evolution for us as the vegan alternative cheese category continues to see rapid growth. The upside of the dairy replacement market is not only exciting but very substantial."
Joni Berg, Co-Founder of the reputable kitskitchen soups, has teamed up with Modern Meat product development specialists to bring the new vegan cheese line to market.
"I am excited to head up product development for kitsCheeze and support its future sales and growth plans," stated Joni. "Working alongside the Modern Meat team to recreate dairy-free options to one of my favourite foods has been an incredible experience and I look forward to seeing the brand grow. The vegan cheeses we have created closely resembles the taste and texture of many traditional cheeses and we anticipate that they will be extremely well received by consumers looking for a worthy replacement."
Modern Meat plans to roll out kitsCheeze to select retailers in May 2021.
About Modern Meat
Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMO's. Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using only natural 100% 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: Modern Meat and Modern Meat's business and prospects; the Company's objectives, goals or future plans; Modern Meat sales growth, planned expansion, awareness of the Modern Meat brands, the details of launch of kitsCheeze including product offerings and timelines, , future sales and revenue growth, brand expansion, 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 Modern Meat 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 Meat Inc.
Company Codes: CNSX:MEAT
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