Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) ("Boosh" or the "Company") a premier plant-based brand in the "better for you" food sector, is pleased to present the following overview.
The primary asset of Boosh Plant-Based Brands is Beanfields, a better for you chip company established in 2010, which, over the years grew to become an award-winning brand carried in approx. 7000 retail locations across North America with exports to Mexico, South America, and Australia.
Beanfields Chips
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Pre-pandemic sales were $15M USD, however the previous owners focused on topline growth over profit. Boosh purchased the assets of the company from their lenders for $8M shares, $1M in operating capital and $400,000 loan.
Since the initial purchase last February which completed in June 2022, Boosh has improving margins and increased profitability by lowering overhead, sourced alternate suppliers, streamlined logistics and rationalized SKUS (which essentially means focusing on top selling flavours only at this time).
Boosh CEO Connie Marples states, "Although the last year has been somewhat challenging in terms of cashflow and capital raise we are excited about the future of the company as we continue to receive purchase orders each month which, once fully capitalized, will see us back to pre pandemic numbers. Our sales and Business Development team stay in close contact with our distributors and key accounts as they desperately want more product to sell. As soon as we produce the chips, they sell through."
The Boosh team just came back from KeHE Distributor trade show in Nashville where they filled Summer Promotional orders and picked up new retailers.
Marples goes on to say, "We are in a unique position in that even though we are considered a start up, our primary asset has 13 years of successful market penetration. In any consumer packaged goods company the hardest part of the journey is getting listed with retailers and selling through to consumers. We are already there and just need to keep increasing production."
Some of the main retailers are Whole Foods, Sprouts, Loblaws and Sobeys among many many other fine retail chains and independents.
Boosh is expecting to close out Private Placement of .05 shares with full .07 one year warrant soon.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
Connie Marples
Founder/President
connie@booshfood.com
Telephone: 778 840 1700
www.Booshfood.com
www.beanfields.com
About Boosh Plant-Based Brands Inc.:
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com) offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, (www.beanfields.com) the Company owns Beanfields, a plant-based chip brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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