Vancouver, British Columbia--(Newsfile Corp. - May 18, 2023) - good natured Products Inc. (TSXV: GDNP) (OTCQX: GDNPF) (the "Company" or "good natured®"), a North American leader in plant-based products, today announced that it has signed a commercial contract with a regional US snack food producer that distributes across several prominent Texas retailers. The contract outlines a two-year agreement whereby good natured® will supply packaging based on the Company's proprietary GoodGuardTM tamper-evident design. The packaging will be produced at the Company's Houston, Texas facility using a customized Bio-PET formulation that is curbside recyclable alongside traditional petroleum-based PET, rPET or PCR packaging. Revenue of approximately USD $1.2 million is anticipated in the first year, with the first shipment to the customer expected in Q3 2023.
"This project combines many elements of why we believe good natured® is unique in the market and what's possible with the increased scale of our engineering and biomanufacturing capabilities," said Paul Antoniadis, CEO of good natured®. "We collaborated closely with this purpose-driven organization in the local community of our Houston facility to build on our Canadian-made GoodGuardTM tamper-evident innovation and custom-fit a package design uniquely for their business needs. It's a testament to the robust value proposition we're taking to market, as well as the resilient demand for sustainable packaging despite volatile macroeconomic conditions being faced in more commoditized markets."
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis - Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Information regarding the multi-year contract contained in this press release may constitute forward-looking information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement.
When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166502
