VANCOUVER, B.C., Oct. 24, 2022 /PRNewswire/ -- Pangea Natural Foods Inc. (CSE: PNGA) ("Pangea" or the "Company"), a natural food company, is pleased to announce hitting the milestone of selling over 5,000 units of its Pangea Old Fashioned Ghee, a grass-fed, organic, clarified butter sourced from New Zealand to Save-On-Foods across its Canadian locations within the last 30 days.
Save-On-Foods is a chain of supermarkets located across Western Canada, owned by the Pattison Food Group. With Save-on-Foods, the Company has listed Pangea Old Fashioned Ghee nationally in approximately 177 stores.
"Our customers are consistently purchasing our products and our brand recognition is growing rapidly," says Pangea CEO Pratap Sandhu, "We're very pleased with the distribution results from our relationship with Save-on-Foods, a well-known and established retailer."
The Company's Old Fashioned Ghee is a grass-fed, organic, clarified butter sourced from New Zealand.
In 2021, the Global Ghee Market reached a value of US$45.7 billion, while's expected to reach US$68.9 billion by 2027, growing at a CAGR of 7.18%.[1]
All of the Company's products are manufactured in the Vancouver lower mainland at an in-house facility approved by both the Canadian Food Inspection Agency and the U.S. Food and Drug Administration. To provide a convenient experience for its customers, the Company offers its products for purchase via e-commerce platforms and traditional retail outlets, including Save-on-Foods.
Pangea offers a broad portfolio of innovative healthy food products that taste great and are sustainably sourced. Pangea's signature products include the Pangea Plant-Based Patties, Old Fashioned Ghee and Munchie Mix, which are available on the Company's website and in over 250 leading national retail food stores across Canada and the United States.
About Pangea Natural Foods Inc.
Pangea Natural Foods Inc. is a food manufacturing company focused on manufacturing and distributing high quality food products that are nutritious and free of GMO ingredients, fillers, antibiotics, hormones, and bioengineered ingredients.
On Behalf of the Board of Directors
(signed) "Pratap Sandhu"
Pratap Sandhu
CEO, Corporate Secretary and Director
For further information, please visit the Company's website at www.pangeafood.com or contact:
Pangea Natural Foods Inc.
Pratap Sandhu, Chief Executive Officer
Telephone: +1 (604) 765-8069
Email: pratap@pangeafood.com
Forward-Looking Information
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the Company's plans to expand distribution of its products throughout North America and expectations regarding the Company's growth. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "anticipates," "it is expected," or variations of such words and phrases, or statements that certain actions, events or results "may," "could," "should," or "would" occur.
Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this news release, including that the Company will be able to widen the distribution of its products in North America and that the Company's business will grow. Although the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that the Company will not be able to expand its distribution network, and the other risks and uncertainties applicable to the Company and the business of the Company as set forth in the Company's final long form prospectus dated June 20, 2022 and its other disclosure available under the Company's profile at www.sedar.com.
There can be no assurance that the transactions contemplated in this news release will complete. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. We seek safe harbor.
[1] https://www.imarcgroup.com/ghee-market#
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