Candyverse Brands Inc. (“Candyverse” or the “Company”), is pleased to announce that in the month of January 2022, the company delivered a 100% customer fill rate on purchase orders received of over 8,000 retail ready cases of its delicious Better Bears™ candy products.
In the first full month of the Company’s enhanced North American supply chain, Candyverse processed and shipped just over 100,000 50g bags (12 per retail ready case) of its Better Bears™ candy products. The Company anticipates strong continued month-over-month growth in purchase orders of product to satisfy the rapid increase in points of distribution and merchandising programs being executed in the marketplace with larger national retail chains. The Company has established a supply chain that can respond to increased shifts in demand which is needed to ensure consistent and reliable in stock positions as velocity grows.
Garrett Downes, Chief Executive Officer commented “The demand for our products continue to increase as more customers try our products. We see a continued upward trend in purchase orders for our Better Bears products as we expand our product SKUs, sales channels and points of distribution. We’ve barely scratched the surface in terms of our total potential retail footprint in North America.”
The Company cautions that the above figures are purchase orders and not net revenues. These orders have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been fully audited.
About Candyverse Brands Inc.
Candverse Brands Inc. is leading the future of snacking through innovative plant-based, low-sugar and planet-friendly snack brands. Candyverse products fill key unmet needs in modern nutrition that sees a larger focus on healthier options and better ingredients.
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 Company’s expectations concerning the launch of additional brands and the timing thereof, its expectations regarding consumer snacking habits, expectations of launching a branded portfolio business, month-over-month growth in purchase orders, as well as all other statements that are not historical in nature.
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 demand for the Company’s products; that future 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, the availability of labour, 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: changes in consumer demand, 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; regulatory changes in the Company’s primary markets and the impact of and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company’s contracted production 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.