The Very Good Food Company (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) today announced that it has executed a non-binding term sheet with a prominent institutional lender for a committed C$70 million credit facility. Upon closing of the proposed financing, the company will have access to a senior secured C$20 million revolving line of credit and a C$50 million asset-backed term loan. “This proposed financing demonstrates VERY’s ability to access capital markets, with favorable terms, based on strong fundamentals,” said Mitchell Scott, CEO of The Very Good Food Company. “We believe this financing signals that our business plan and sector have major growth potential, which VERY is poised to execute upon to meet the existing and future demand for our products.”
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About The Very Good Food Company Inc.
The Very Good Food Company is an emerging plant-based food technology company. Its mission is to use progressive food technology to create plant-based meat and other food products that are delicious while maintaining a wholesome nutritional profile. To date, the company has developed a core product line under The Very Good Butchers brand. For more information, visit www.VeryGoodButchers.com.
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