The Very Good Food Company Announces Record Monthly Sales

Vancouver, British Columbia–(Newsfile Corp. – December 10, 2020) – The Very
Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) (“VERY” or the
“Company”), a progressive creator of innovative plant-based food products, is
pleased to announce record sales in November due to highly successful
Thanksgiving, Black Friday and Cyber Monday e-commerce sales promotions.

November Record Monthly Revenue

VERY achieved a new record for monthly sales in November 2020 of $782,790, an
increase of 582% over November 2019 due to increased e-commerce sales
attributable to American Thanksgiving along with Black Friday and Cyber Monday
sales promotions.

E-commerce sales in November were $600,671 resulting from 6,258 orders, an
increase of $292,486 from the prior month, and $550,429 compared to November

  1. American Thanksgiving attributed to $384,045 in e-commerce sales in
    November 2020 representing 4,287 orders; approximately a 1686% increase in the
    number of orders compared to November 2019. E-commerce revenue from Black
    Friday and Cyber Monday promotions was $191,512. Sales from these promotions
    is evidence of the effectiveness of VERY’s various e-commerce marketing
    initiatives to build brand awareness and demand for VERY’s products. These
    initiatives will support the Company’s next phase of growth and increased
    production capacity coming online in Q1 2021 from the Rupert facility.

CEO Mitchell Scott commented: “We are very pleased with the results of
November’s e-commerce sales promotions. We will be rolling out new marketing
initiatives in the New Year to target existing and new customers in both our
e-commerce and wholesale sales channels as we work to expand our production
and distribution capabilities with the commissioning of the Rupert facility.”

Extension of Marketing Agreement

The Company also announced today that it has extended its agreement with
Gravity Accelerator PBC (“Gravity”), who has provided search engine
optimization services to VERY since August 2020. As compensation for their
services, Gravity will receive a monthly consulting fee in the aggregate
amount of US$50,000 of which US$30,000 is payable through the issuance of
common shares of the Company and US$20,000 is payable in cash. The number of
shares issuable will be determined based on the closing price on the last
trading day prior to the date of Gravity’s monthly invoice less a 10%
discount. All shares issued to Gravity will be subject to a hold period of
four months from the day of issuance.

About The Very Good Food Company

The Very Good Food Company Inc. is an emerging plant-based food technology
company. Our mission is to use progressive food technology to create
plant-based meat and other food products that are delicious while maintaining
a wholesome nutritional profile. To date we have developed a core product line
under The VeryGood Butchers brand.

For further information, please contact:

Mitchell Scott
Chief Executive Officer and Director

Kevan Matheson
Corporate Communications and Investor Relations

Email: invest@verygoodbutchers.com

Phone: +1 855-472-9841

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 limited to: the expected timing for
commencement of operations at the Rupert Facility, the Company’s efforts and
ability to build its production and distribution capabilities.

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. Certain assumptions in respect of
continued strong demand for our products; ; that added production capacity
will enable us to increase our sales volume, that we do not experience
material interruptions or supply chain failures as a result of COVID-19, our
ability to retain key personnel, and changes and trends in our industry or the
global economy are material assumptions made in preparing forward-looking
statements or information and management’s expectations. 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 including the risk of disruption at the Company’s facilities or in
its supply and distribution channels. 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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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/69957

(c) Copyright Newsfile Corp. 2020

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