VANCOUVER, BC, July 12,
2022 /CNW/ - good natured Products Inc. (the
"Company" or "good natured®") (TSXV:GDNP) (OTCQX:
GDNPF), a North American leader in plant-based products, today
announced it has formally signed a multi-year commercial contract
with the large U.S. food producer previously referenced in a press
release dated October 12, 2021. The
contract outlines a three-year agreement whereby good
natured® will supply the customer with multiple
packaging designs using Bio-PET-based material and recycled content
being produced at the Company's in-house manufacturing facilities
in Ontario and Illinois. The Company continues to anticipate
revenue of approximately USD $13
million in the first year based on the terms of the
agreement. Volumes in the first year are expected to fluctuate on a
quarterly basis to match product seasonality, as well as the
rollout timing of new products to the producer's retail
customers.
"We're extremely excited to announce the signing of the largest
organic commercial agreement to date at the Company and have been
actively engaged with shipping significant volumes of product to
this client since the initial announcement was made," said Paul
Antoniadis, CEO of good natured®. "The contract
is a testament to the robust plant-based commercial offering we're
taking to market, the increased scale of our operational
capabilities, and our relentless pursuit of driving the adoption of
sustainable materials and growing market share, even during this
inflationary environment."
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
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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.
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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.
SOURCE Good Natured Products