Nepra Foods Inc. (CSE: NPRA)

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Nepra Foods Expands Its Footprint with New State-of-the-Art Production Facility and Multi-Media Enabled Innovation Kitchen

Prioritizing growth and innovation, Nepra expands 31,000 square foot production facility and R&D kitchen.

 

Vancouver, BC – October 21, 2021 – Nepra Foods Inc. (CSE: NPRA) (the “Company” or “Nepra”), creator of nutritious plant-based and allergen-free food, commits to innovation and expansion by starting major construction of an expanded production area and research and development facility. In January 2021, our subsidiary, Nepra Foods, Ltd., signed a 10-year lease on a new 31,000 square foot facility in Centennial, Colorado, in the southern part of the greater Denver Metro area. Leasing this new facility and the completion of the state-of-the-art build out is part of Nepra’s phased growth strategy, which will enable Nepra to increase manufacturing output and expedite the development of innovative new products.

 

Approximately 3,000 square feet of the building will be dedicated to research and product development in a fully equipped laboratory kitchen. It will serve as a secure facility for the development of Nepra’s proprietary products and technologies. Additional production facilities are being constructed for a custom dry ingredient blending facility for existing B2B customers who use Nepra’s ingredients as well as blends for Nepra’s proprietary consumer branded products. Additional construction will expand production capabilities to meet the ever-increasing demand for the Company’s proprietary hemp ingredients.

 

According to retail sales data, plant-based food sales grew 27% in 2020, with 57% of all U.S. households purchasing plant-based foods[1]. Furthermore, plant-based food sales increased nearly 2.5 times faster than total food sales from 2018 to 2020[2]. As this shift in consumer preference for plant-based foods continues to gain steam,

 

“This new, dedicated space gives our team of world-class experts, led by Chief Technology Officer Chadwick White, the secure working environment they need for research, development, and testing while protecting the confidentiality of our intellectual property,” says Nepra CEO, David Wood. “It also provides much-needed real estate to meet our production goals.”

 

Nepra’s proprietary hemp-based proteins are used in their current consumer marketed plant-based meats, dairy alternatives, and baked snacks, and the proteins are also sold as B2B ingredients. In addition, the facility construction allows expansion within the other established B2B categories, including Essential Blends™, Essential Flours™, and Rheoflex®.  Nepra is targeting alternative sweeteners, alternative chocolates, and fermented foods for future development.

 

This new facility will help Nepra achieve its goal of producing nutritious food that is accessible to a large segment of the population. Everything Nepra creates is plant-based, allergen-free, and gluten-free.

 

About Nepra Foods

 

Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn’t be difficult. Everybody deserves food options that are truly nutritious and taste good. Food shouldn’t contain allergens that might prevent everybody in the family from enjoying it together. People shouldn’t have to compromise quality and taste in what they eat even if they are trying to cut down on carbs, don’t tolerate gluten or dairy very well, or don’t want to eat food produced from animals. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.

 

Visit the Nepra Foods website for additional information.

 

Media Contact

Investor Relations

Investors@neprafoods.com

Toll-Free: 844 566-1917

 

The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

 

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, the statements relating to the Company’s financial performance, business development and results of operations. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

 

SOURCE:  Nepra Foods Inc.

[1] Plant Based Foods Association. Retail Sales Datahttps://www.plantbasedfoods.org/retail-sales-data/

[2] Good Food Institute. U.S. retail market data for the plant-based industryhttps://gfi.org/marketresearch/

[3] Research and Markets (2021, April 2). Global Plant Based Meat Market Report 2021-2027: Market is Forecast to Reach $14.9 Billion – Opportunities in Innovation.  Globenewswire. https://www.globenewswire.com/news-release/2021/04/02/2203833/28124/en/Global-Plant-Based-Meat-Market-Report-2021-2027-Market-is-Forecast-to-Reach-14-9-Billion-Opportunities-in-Innovation-New-Product-Launches-Partnership-and-Merger-Acquisition.html

 

 

Nepra Foods Announces Launch of PROPASTATM Ready-to-Eat Complete Plant-Based Meals

Vancouver, BC – October 13, 2021 – Nepra Foods Inc. (CSE: NPRA) (the “Company” or “Nepra”), creator of nutritious plant-based and allergen-free food is pleased to announce the launch of its PROPASTATM ready-to-eat allergen-free, plant-based meals. PROPASTATM represents the first Consumer Packaged Goods (CPG) product offering from Nepra, utilizing the Company’s proprietary plant-based meat analogues and pasta.

 

“The launch of PROPASTATM represents the first of the exciting CPG products planned within our consumer product roadmap,” commented David Wood, CEO of Nepra Foods. “The current market offerings of allergen-free, ready-to-eat convenience meals with plant-based meat analogues and dairy-free cheeses are extremely limited and, frankly, aren’t the best tasting. Our PROPASTATM meals are uncompromisingly tasty and offer substantially more plant-based protein complete with all 20 amino acids and balanced healthy fats. In addition, our unique formulations contain dramatically fewer carbohydrates and a lot less sodium. We are expeditiously working on optimizing production of PROPASTATM using a combination of internal production capacity and co-manufacturers and anticipate launching the product with US retailers in early 2022.”

 

About PROPASTA

 

Away from an increasingly crowded market, Nepra Foods is going after the broad American grocery shopper with plant-based food that meets people where they live. Convenient, nutritious brands that are provocative, unapologetic, and loud. Nepra Foods will begin with PROPASTATM for the frozen food aisle. PROPASTATM is a great-tasting line of ready-to-eat frozen dinners containing Nepra’s proprietary pasta, meat analogues, and cheeses high in plant-based protein and low in carbohydrates, representing genuinely healthy eating.

 

This approach targets two segments of American grocery shoppers, not often focusing on plant-based alternatives, which MRI-Simmons Research calls “convenience and ease” and “variety on a budget.”  Furthermore, we believe this creates a massive available addressable market for Nepra Foods and creates a unique go-to-market approach not historically targeted by traditional plant-based food brands. Together these segments equal an underserved 41% of total grocery store sales.[1]

 

About Nepra Foods

 

Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn’t be difficult. Everybody deserves food options that are truly nutritious and taste good. Food should not contain allergens that might prevent everybody in the family from enjoying it together. People shouldn’t have to compromise quality and taste in what they eat even if they are trying to cut down on carbs, don’t tolerate gluten or dairy very well, or don’t want to eat food produced from animals. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.

 

Visit the Nepra Foods website for additional information.

 

Media Contact

Investor Relations

Investors@neprafoods.com

(720)-729-8500

 

The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

 

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, the statements relating to the Company’s financial performance, business development and results of operations. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

 

[1]  Source: Simmons Research LLC, Spring 2018 Adult Study 12-month

 

SOURCE:  Nepra Foods Inc.

Following Successful IPO Nepra Foods Isssues Letter from the CEO

Vancouver, BC – September 23, 2021 – Nepra Foods Inc. “Nepra”)  ( CSE: NPRA ), creator of nutritious plant-based and allergen-free food is pleased to share this corporate update letter from CEO David Wood.

 

Dear Fellow Shareholders, Our team at Nepra Foods is thrilled to have oversubscribed our Initial Public Offering, successfully raising gross proceeds of $7.5 million at an offering price of $0.47 CAD. I’m also delighted to deliver my first shareholder letter as CEO of Nepra and introduce our products and story to you.

 

Of course, before proceeding further, I must also express our gratitude to new shareholders and Canaccord Genuity for efficaciously and professionally leading this milestone financing.

 

Charged by the plant-based movement and an exceptional product line-up, we are now looking forward to forging a new history. Nepra offers customers the best in product innovation and customer service while charting a corporate growth strategy driven to provide value and transparency to its shareholders.

 

Nepra is led by a team of master bakers, chefs, and executives with decades of experience in the food industry. Ingrained in the company culture is a commitment to future-oriented innovation. Since its inception in 2016, everything Nepra has accomplished aims to solve challenges faced by the industry. One of those challenges is food allergies. The WHO estimates between 1-3% of adults globally have some food allergy. That number increases to 4-6% for children. Producing high-quality and nutritious allergen-free food can be challenging and requires specialized technical creativity. The team at Nepra has the experience and skill to take those challenges head-on.

 

The speed of lasting change is accelerating in the industry, and the changes we see in the sector are primarily for the better. A renewed interest in better nutrition and wellness after a global pandemic has roused people to take their health more seriously. One way of the best ways to improve our health is better nutrition.  It reminds me of a quote from Hippocrates, “Let food be thy medicine and medicine be thy food.”  Unfortunately, one of the failures of our modern food industry is that it has genuinely let humanity down by making so many foods that have little or no nutritional value.  Moreover, healthy eating is more expensive and less accessible.  At Nepra Foods, we are emboldened to make it easier to eat healthy.

 

We have quietly been building a multi-category foundation behind the mantra, “The Evolution of Eating.” Focusing on plant-based foods high in protein and fiber, lower in carbohydrates, and truly nutritious – everything Nepra does is plant-based, allergen-free, and gluten-free. In addition, the Company develops and produces proprietary ingredients that are sold to other food producers and used in our own consumer products.

 

Over the past five years, Nepra has also established a growing business-to-business portfolio providing proprietary specialized ingredients to food producers across North America. Additionally, the Company has newly established consumer distribution with direct-to-consumer as well as traditional retailers.

 

According to market research and driven by data that shows that 57% of U.S households purchased plant-based food in 2020, retail sales grew 27%, reaching $7 billion.

 

As the Company moves into the consumer products space with our own branded products, we have a distinct advantage to accelerate our growth. Nepra Foods’ consumer product launches will shake up categories in the food industry. Although the industry is being propelled by favorable tailwinds, led by industry giants such as Tattooed Chef (NASDAQ: TTCF) and Beyond Meat (NASDAQ: BYND), Nepra is much more than just another meat analog producer.

 

Our focus is on producing genuinely nutritious food that is accessible to a large segment of the population. At Nepra, we don’t follow fads. Instead, we look for long-term trends in the market that will create lasting growth opportunities – such as reducing waste and production issues surrounding the gluten-free baking industry. Thus, the work we do at Nepra pushes the whole industry forward.

 

For those new to our story, our common shares currently trade on the CSE under the symbol NPRA. Nepra will continue to share consistent updates on our operational progress with our investors. In the coming weeks, we also plan to schedule a live webinar to introduce our team and vision while answering questions from shareholders.

 

In the meantime, Additional information About Nepra Foods can be found here:

Nepra’s Mission – Eating foods free from allergens, animal products, and gluten shouldn’t compromise flavor, texture, or nutrition.

 

Investor Deck – For more information about Nepra, the latest investor deck can be found here.

 

I want to thank Nepra’s shareholders for your support throughout this process and your belief in our vision. With your ongoing support, we are now positioned to make Nepra a dominant industry force.

Sincerely,
David Wood, CEO

 

About Nepra Foods

 

Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn’t be difficult. Everybody deserves food options that are truly nutritious and taste good. Food shouldn’t contain allergens that might prevent everybody in the family from enjoying it together. People shouldn’t have to compromise quality and taste in what they eat even if they are trying to cut down on carbs, don’t tolerate gluten or dairy very well, or don’t want to eat food produced from animals. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.

 

FORWARD-LOOKING STATEMENT

 

Forward-Looking Statements

 

This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

 

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, the statements relating to the Offered Shares commencing trading on the CSE on September 20, 2021 under the symbol “NPRA”. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

 

For further information contact:

Joel Primus

Investor Relations
investors@neprafoods.com

David Wood, CEO
david.wood@neprafoods.com
(720)-729-8500

 

SOURCE: Nepra Foods Inc.

Nepra Foods Inc Completes Oversubscribed $7.47 Million Initial Public Offering

Vancouver, BC – September 20, 2021 – Nepra Foods Inc. (CSE: NPRA) (the “Company” or “Nepra”) a creator of nutritious plant based and allergen-free food is pleased to announce the successful completion of the Company’s initial public offering (the “IPO”) of 15,903,465 common shares (the “Offered Shares”) at a price of $0.47 per Offered Share for total gross proceeds of $7,474,629, which included 2,073,678 Offered Shares from the exercise of the over-allotment option.

 

The IPO was conducted through Canaccord Genuity Corp. as the sole agent (the “Agent”) and its selling group. As partial compensation to the Agent, the Company has issued to the Agent, or as directed by the Agent, 898,889 non-transferable compensation options (the “Compensation Options”) with each Compensation Option exercisable into one common share in the capital of the Company at an exercise price of $0.47 per common shares for a period of 24 months from today. In addition, the Agent received a fee equal to 6.0% of the gross proceeds of the IPO from subscribers other than those on the President’s List and a fee equal to 2.0% of the gross proceeds of the IPO received from the President’s List subject to a maximum of $650,000 of gross proceeds subscribed for by such President’s List purchasers. Furthermore, the Agent received a corporate finance fee equal to 4.0% of the aggregate number of Offered Shares resulting in the Company issuing 636,138 common shares to the Agent upon closing of the IPO.

 

The Offered Shares were listed on the Canadian Securities Exchange (the “CSE”), effective Wednesday, September 15, 2021 and begins trading today, Monday, September 20, 2021, under the trading symbol “NPRA” on the CSE.

 

McMillan LLP, acted as counsel to the Company, and Bennett Jones LLP, acted as counsel to the Agent.

 

“The enthusiasm we are seeing from the investor community with the launching of our IPO confirms our beliefs that the evolution the food industry is seeing away from animal-based proteins is not merely a short-term fad, but a long-term global trend. The key will be providing consumers with very nutritious, satisfying foods with great tastes and textures. The proceeds from this IPO is expected to accelerate our expansion into consumer products using our innovative ingredients,” said Nepra’s CEO, David Wood.

 

The securities of the Company 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.  Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.  This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About Nepra Foods

 

Nepra Foods is a creator of plant based and allergen-free foods based in Colorado. Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn’t be difficult. Everybody deserves food options that are truly nutritious and taste good. Food shouldn’t contain allergens that might prevent everybody in the family from enjoying it together. People shouldn’t have to compromise quality and taste in what they eat even if they are trying to cut down on how many carbs they eat or if they don’t tolerate gluten or dairy very well or they don’t want to eat food produced from animals. Nepra Foods’ mission is to make healthy, enjoyable food for everybody.

 

The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

 

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, the statements relating to the Offered Shares commencing trading on the CSE on September 20, 2021 under the symbol “NPRA”. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

  

For further information contact:

 

David Wood CEO

david.wood@neprafoods.com

(720)-729-8500

 

Source:  Nepra Foods Inc.

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About Nepra Foods Inc.

Eating foods free from allergens, animal products and gluten shouldn’t compromise flavor, texture and nutrition.

Over the years, our experience in making amazing gluten-free foods has taught us several things. First of all, it’s not easy. That is why most foods that are “free-from” (free from gluten, allergens, soy, dairy, etc.) are also free from being any good. That doesn’t need to be the case. The people at Nepra are passionate about making food that everybody will enjoy, even if they have a food allergy, or are just trying to eat less meat and help the environment. Eating healthy food shouldn’t be difficult, and it sure shouldn’t come with compromises.

Another thing we’ve learned is that we love hemp seeds. When you remove gluten (which is a protein) from a food, typically, you need to replace it with another protein. It turns out hemp protein, extracted from the seeds of the industrial hemp plant, is good at replacing gluten in many foods. And that’s not all. Hemp is probably the most nutritious, most environmentally friendly plant protein we have on earth. It contains all 20 amino acids with the proper omega 3 to 6 fatty acid ratios that our bodies need for optimum wellness. It’s also very easy for our bodies to digest, and it grows fast. Not all plant proteins can brag about that. In fact, some plant proteins are not nutritious at all (sorry gluten).

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