Nepra Foods Inc. (CSE: NPRA)

Vancouver, BC – June 2, 2022 – Nepra Foods Inc. (CSE: NPRA) (FSE: 2P6) (OTCQB:NPRFF) (“Nepra” or the “Company”), the creator of nutritious plant-based and allergen-free food, reported 51% revenue growth year over year for the first quarter. The Company earned revenue of $2.1 million for the three months ended March 31, 2022 compared to $1.4 million over the prior year three months ended period.

 

“The first quarter of the year is typically the slowest sale cycle of our year”, reports CEO, David Wood. “This is a strong indication of our continued growth which expect to extend throughout the remainder of the year”. All of the current company revenue has been generated from its core ingredient sale business, which continues to have strong demand.

 

“We are working on many new formulas for customers right now that could generate exciting boosts of revenue off of our typical growth cycles”, states further David Wood. Nepra is a specialty ingredient supplier to major brands and is able to build sales moats around its ingredient sales by being involved in the formulation process and more often than not, the actual blending of the materials, which results in a proprietary formula with its customers.

 

The Company also announces that Mr. John Maculley tendered his resignation as Chief Operating Officer of the Company effective May 20, 2022. We thank Mr. Maculley for his service to the Company and wish him success in his future endeavors.

 

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.

 

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 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.

 

Media Contacts
investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

SOURCE: Nepra Foods Inc.

VANCOUVER, BC – April 20, 2022 – Nepra Foods Inc. (“Nepra”) (CSE:NPRA)(FRA:2P6.F)(OTCQB:NPRFF), the creator of nutritious plant-based and allergen-free food, is pleased to announce the initial production of its textured hemp protein (THP™) to drive Consumer and Food Service sales. THP™ is a foundational ingredient required to produce a variety of meat analogs, including plant-based alternatives to beef, chicken, and pork, and is used to create Nepra’s signature meatballs in its PROPASTA™ line of frozen meals. Nepra’s shelf-stable THP™ will be sold wholesale and shipped dry allowing food producers to create great tasting allergen-free plant-based meat items for their customers.

 

“We founded Nepra Foods with a vision to make healthy and sustainable foods available to a growing base of consumers who want allergen-free options that taste amazing,” said David Wood, Chief Executive Officer of Nepra Foods. “To our knowledge,  Nepra’s textured hemp protein is the first to market. Nepra’s proprietary formulations and manufacturing processes allow us to create a superior plant-based protein that is extremely neutral in taste and allergen free making it an ideal alternative to textured proteins made entirely from soy and pea that make up most of the market today.”

 

Leading plant-based meat products on the market today are mostly made from either soy or wheat protein, which are recognized as allergens, or pea protein, which has a strong flavor. Allergen-free hemp delivers a complete plant-based protein that is high in essential amino acids and has the proper ratio of omegas 3, 6, and 9. Industrial hemp is an earth-friendly crop that sequesters twice as much carbon from the atmosphere as trees and is naturally pest-resistant so it can be grown without harmful pesticides.

 

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.

 

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 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.

 

Media Contacts

investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

SOURCE:  Nepra Foods Inc.

Vancouver, BC – March 17, 2022 – Nepra Foods Inc. (CSE:NPRA)(FSE:2P6F)(OTCQB:NPRFF) (“Nepra”), the creator of nutritious plant-based and allergen-free food, is pleased to announce a private label sampling of salad dressings made from its proprietary cold-pressed virgin hemp oil. The anticipated volume agreement is estimated to generate initial orders totaling up to 20,000 gallons of dressings per month to be sold in large retail chains across the United States. As a bi-product of its Colorado White Hemp Heart Flour production line, Nepra produces its refined hemp oil using a cold process to preserve the natural omegas, yielding an extra fresh oil that is vibrant, golden, and well-balanced for blending into a wide variety of clean label dressings, including Creamy Italian, Balsamic Vinaigrette, Citrus Thai, and Creamy Caesar.

 

“Our new line of chef-developed salad dressings are formulated for consumers who want to add healthy fats and omegas to their plant-based diets but have limited non-GMO options available on grocery store shelves,” said David Wood, Co-Founder and CEO of Nepra Foods. “We believe our cold-processed virgin hemp oil that we press fresh daily in our Colorado facility is the best tasting alternative to genetically modified oils, including corn, canola, or soybean.”

 

Nepra’s initial entry into the global salad dressings and mayonnaise market, estimated to reach 23.8 billion by 2026, is part of its vertical integration strategy enabling Nepra to better control its global supply chains and cost of goods. As a result, from seeds to final products, Nepra can maintain the highest levels of quality and a predictable supply for end consumers.

 

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.

 

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 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.

 

Media Contacts

investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

Source: Nepra Foods Inc.

Vancouver, BC- March 9, 2022 – Nepra Foods Inc. (OTCQB:NPRFF)  (CSE:NPRA) (FSE:2P6F) (“Nepra”), the creator of nutritious plant-based and allergen-free food, is pleased to announce the debut of its PROPASTA™ line of heat-and-eat plant-based meals, targeting American Flexitarians wanting to reduce their consumption of animal-based products as well as their impact on the environment. PROPASTA™ will launch at the Natural Foods Expo West in Anaheim, California March 8-12 with attendance estimated to top 80,000 visitors, marking the events’ 21^st year serving the natural and organics industry.

 

“Launching our latest PROPASTA™ brand at Expo West couldn’t come at a better time for consumers eager for nutritious, allergen-free, and plant-based comfort meals that the whole family can enjoy,” said David Wood, Co-Founder and CEO of Nepra Foods. “Our team of food scientists and chefs, led by Chadwick White, Co-Founder and CTO, worked tirelessly over the past year to develop recipes and formulations that are unmatched in the industry today. PROPASTA™ is a bold category-leading brand that meets people where they are in the frozen food aisle with great tasting, animal-free meals that deliver true nutrition for everyone.”

 

Nepra has strategically positioned its PROPASTA™ brand at the intersection of consumer appeal, environmental impact, and optimized nutrition to capture the American Flexitarian segment, representing over 45 million weekly shoppers and 41% of the U.S. population. Made from proprietary formulations of hemp hearts, PROPASTA™ Spaghetti and Meatballs, Ricotta Ravioli with Marinara, and Macaroni and Cheese provide a complete protein source that is rich in healthy fats, easy to digest, non-GMO, and free from the top 8 allergens. With the ready-made frozen meals market estimated to reach USD $156 billion by 2025, Nepra is poised to take advantage of a fundamental shift in consumer demand for plant-based options that allow people to reduce their consumption of animal products without compromising taste, texture, or nutrition.

 

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.

 

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 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.

 

Media Contacts

investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

Source:  Nepra Foods Inc.

Vancouver, BC – March 3, 2022 – Nepra Foods Inc. (“Nepra”) (CSE:NPRA)(FSE:2P6F)(OTCQB:NPRFF), the creator of nutritious plant-based and allergen-free food, is pleased to announce the creation of its nutrient-packed plant-based macaroni and cheese heat-and-eat meals. Nepra’s latest innovation will be part of its PROPASTA product lineup to be debuted March 8-12 in Anaheim, California at Natural Products Expo West – the largest tradeshow and exhibition dedicated to natural products, organic food, and medical practices.

 

The macaroni and cheese category is currently dominated by products containing gluten and dairy, which make them inaccessible to many people trying to cut down on carbs, or don’t tolerate gluten or dairy very well, or simply don’t want to eat food produced from animals. Nepra’s team of food scientists set out to create a plant-based comfort food that not only tastes like traditional macaroni and cheese but is high in protein with balanced carbs. Consumers can feel good about sitting down to a bowl of mac ‘n cheese knowing it is good for their bodies and good for the planet without compromising taste and texture.

 

“Our R&D team has outdone themselves with the recent creation of macaroni noodles and creamy cheddar cheese, all made from plants. We are taking hemp protein to the next level with our proprietary formulations that are perfectly designed for modern flexitarians who want to eat healthier but don’t want to sacrifice taste,” said Chadwick White, Co-Founder and Chief Technology Officer of Nepra Foods.

 

Consumers eager to get an early preview can visit Nepra’s PROPASTA booth at Natural Products Expo West for a sample or look for PROPASTA Macaroni and Cheese to be available online and in retailers starting in Q2-2022.

 

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.

 

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 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.

 

Media Contacts

investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

SOURCE:  Nepra Foods Inc.

Vancouver, BC – February 3, 2022 – Nepra Foods Inc., (“Nepra”) (CSE:NPRA ) FSE:2P6.F)(OTCQB:NPRFF), creator of nutritious plant-based and allergen-free food, announces today that it has invested $550,000 USD to expand its strategic partnership with a major Indian ingredients manufacturer for additional capacities. In development since 2019, now solidified, this venture enables Nepra to expand research and production of its proprietary plant-based egg white replacement powder; a truly revolutionary innovation to the allergen-free market.

 

This expansion, which entails capacity ownership in perpetuity will allow Nepra Foods to market this unique allergen-free egg white replacement to existing customers and commercial bakeries that are seeking to remove allergens from their operation facilities by using a plant-based alternative. Unlike current plant-based liquid egg replacements, Nepra’s is specifically designed for commercial baking, providing an interchangeable functionality compared to conventional egg white powders, including the structure and foaming capabilities to produce all baked goods, even meringues and soufflés.

 

The egg white powder market, which is estimated to reach $2.64 billion by 2026, has long been plagued by fluctuating supplies of conventional eggs and increasing demand from commercial food manufacturers for allergen-free alternatives.¹ Led by newly appointed Vice President of Ingredient sales Eric Kriegisch, Nepra’s recent investment positions it to immediately begin sampling its plant-based product in Q2-22, to wholesale customers in time for full product rollout in Q3-22. As a result of Nepra’s investment in capacity expansion, its egg white replacement powder inventories are expected to climb to 35MT in 2022 and increase capacities by 154% in early 2023. The additional manufacturing capacity in India is expected to contribute substantial top-line revenue to Nepra’s rapidly expanding wholesale ingredients business based in Centennial, Colorado

 

“We are very excited to expand our relationship and capacities with a trusted India-based manufacturer of quality plant-based ingredients. This initial investment will scale our proprietary plant-based and allergen-free egg white powder from R&D to full-scale production, allowing Nepra to address the increasing demand for allergen-free egg white powder alternatives in the wholesale baking industry,” says Nepra COO, John Maculley.

 

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

 

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.

 

Media Contacts

Joel Primus

investors@neprafoods.com

Investor Relations Toll-free: (844)-566-1917

 

David Wood, CEO

david.wood@neprafoods.com

(720)-729-8500

 

SOURCE:  Nepra Foods Inc.

Vancouver, BC – December 16, 2021 – Nepra Foods Inc. (“Nepra”) (CSE:NPRA )(FSE:2P6.F)(OTC PINK:NPRFF), creator of nutritious plant-based and allergen-free food, has launched a new, direct-to-consumer, e-commerce platform. This extension of the existing Nepra Foods website (www.neprafoods.com) will provide users with an easy-to-navigate shopping experience powered by Shopify—a global leader in e-commerce software for its speed, streamlined check-out, and security. This launch is another critical step in the company’s consumer products strategy, which will include the rollout of their ready-to-eat PROPASTA™ line of frozen foods in early 2022.

 

The website will include detailed product descriptions, photos, testing information, ingredient lists, and in-depth nutrition information to educate consumers. Initial product offerings include Nepra’s Extra Virgin Hemp Oil and assortment of gluten-free Baking Mixes. The online ordering will also include Nepra’s ProCell^TM egg replacement in early 2022, along with other consumer and wholesale product offerings as they become available. A page highlighting the transparency of Nepra’s process for hemp oil extraction, as well as hemp flour milling and blending, will feature prominently so consumers know exactly what they’re eating and how it’s made. According to Food Technology Magazine, 6 in 10 global consumers are interested in learning more about where their food comes from, putting a focus on ingredient sourcing and processing methods.

 

To showcase the versatility and usability of each product, a “Recipes” section, created by Nepra’s team of world-class chefs, will be updated seasonally and when new products are released. Each easy-to-follow recipe will feature ingredients available on the website with links to individual product purchase pages to boost sales.

 

“Consumers are increasingly health-conscious, ingredient-conscious, and eco-conscious, so one of our goals with this new e-commerce shop is to provide them with the same transparent product and process information we share with our wholesale clients,” says Nepra CEO David Wood. “And by offering healthy recipe ideas along with an integrated purchasing process, our products are more accessible to everyday consumers.”

 

The new e-commerce shopping experience can be accessed directly at www.neprashop.com or from the homepage of www.neprafoods.com via the “Shop” link. Shipping will be available throughout the U.S. and Canada.

 

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

 

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.

 

Media Contacts

Joel Primus

investors@neprafoods.com

Investor Relations Toll-free: (844)-566-1917

 

David Wood, CEO

david.wood@neprafoods.com

(720)-729-8500

 

SOURCE:  Nepra Foods Inc.

VANCOUVER, BC – December 2, 2021 / Nepra Foods Inc. (“Nepra”) (CSE:NPRA)(FSE:2P6.F)(OTC PINK:NPRFF), creator of nutritious plant-based and allergen-free food, is pleased to announce that the Company has reported sales of $4,262,350 for the nine-month period ending September 30^th, 2021, a 242% increase over the prior year which had sales of $1,759,370.

 

Continuing to build upon a strong foundation and corporate strategy, the revenue increase is attributed to new customer acquisition and a higher volume of specialty ingredients sold.

 

Driving this sales growth is the increased production of Nepra’s high protein N-50 hemp flour, which rose 400% over production output earlier this year.

 

Following proceeds from the successful completion of the company’s Initial Public Offering (IPO), as well as the conversion of the Series I and Series II convertible note, working capital increased to $5,283,147 as of September 30, 2021, up significantly from a working capital deficit of $324,656 as of December 31, 2020.

 

Other Fiscal Period Highlights Include:

 

• Launched PROPASTA^TM, a ready-to-eat, allergen-free, plant-based frozen meal that represents the first Consumer Packaged Goods product offering from Nepra. The product line offering utilizes the Company’s proprietary plant-based meat analogues and gluten-free noodles with the initial SKU’s to include spaghetti and meatballs, ricotta stuffed ravioli and macaroni and cheese.
• Launched Textured Hemp Protein or THP^TM, an innovative plant-based protein derived from hemp, which is a key ingredient in the Company’s commercial and direct-to-consumer meat alternative offerings.
• Expanded the management team with two key additions: John Maculley and Kate Cash. John Maculley, a former NASA and General Electric executive, joins as the COO. Kate Cash, an industry veteran with over 13 years of sales experience in the natural food products industry, joins as VP of Consumer-Packaged Goods (CPG) Sales.
• Enhanced market visibility, shareholder reach and liquidity with listings on the Frankfurt Stock Exchange and the OTC Markets.
• Engaged a team of globally-renowned marketing advisors led by Rob Klingensmith, Adam Reeves, Nick Klinkert, Chuck McBride and George Achilleos.
• Increased capacity and capability with an expanded, state-of-the-art production facility and research and development facility spanning over 31,000 square feet. Equipment allowing for large-scale production has been delivered and is currently being installed and commissioned.
• Completed an over-subscribed Initial Public Offering (IPO) raising gross proceeds of $7.5 million with significant institutional and retail interest.
• Nepra’s in-house food development and innovation team continues to bring forward novel, industry-leading products for both the consumer and commercial markets with new product launches in Q1/2022.

 

“We are very pleased to see our third-quarter results reflected in our commitment to expanding Nepra’s best-in-class product offerings to the burgeoning plant-based and allergen-free food markets. The quarterly results, alongside our current order book, shows that our growth remains strong compared to last year – a trend we expect to continue through the remainder of the year. As the plant-based market forecast continues to trend upwards, our supply pipeline is strong and positioned for further significant growth by providing the right ingredients in this opportune moment. As a result, our future order book growth is accelerating. This past quarter does not yet include revenue contribution for our soon-to-be-launched consumer products goods division. Further, led by PROPASTA™, we expect to add new product categories and customers across our multiproduct and multi-vertical divisions in the next several fiscal quarters,” said Nepra CEO David Wood.

 

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

 

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.

 

Media Contacts
Joel Primus
investors@neprafoods.com
Investor Relations Toll-free: (844)-566-1917

 

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

 

SOURCE: Nepra Foods

Vancouver, BC – November 17, 2021 – Nepra Foods Inc. (“Nepra”) (CSE:NPRA ), creator of nutritious plant-based and allergen-free food, announces Spaghetti and Meatballs as the company’s first product release from their newly-launched PROPASTA™ line of ready-to-eat meals. As one of the only frozen meal options on the market that is plant-based, high-protein, gluten-free, and completely allergen-free, PROPASTA™ is well-positioned to redefine the frozen food landscape.

 

Spaghetti and Meatballs will make its direct-to-consumer e-commerce debut in early 2022, followed by the national unveiling of two more PROPASTA™ meals, including Chicken Chow Mein and Ricotta Stuffed Ravioli, at Expo West in March 2022. Products will then start rolling out to select Denver-area retailers soon after. The sleek black-and-white with yellow packaging features an amateur athlete with the tagline, “Eat Like a Pro,” targeting active, health-conscious consumers.

 

Nepra chose Spaghetti and Meatballs as their first SKU to appeal to a wide range of taste preferences and to serve as a familiar introduction to PROPASTA™ meals. The meatballs are a beef analogue made from Nepra’s proprietary THP™ (textured hemp protein), and the high-protein pasta noodles use hemp flour as the base. Hemp is superior to other vegetable proteins because it is higher in both protein and contains all 20 essential amino acids, doesn’t require pesticides to grow, is easier to digest, and is 100% allergen-free. Because of its neutral taste and color, hemp can more closely mimic the foods it was designed to replace–like ground beef–without the “off” flavor sometimes associated with other plant proteins. This is what makes PROPASTA™ meals different from anything else in the freezer section, giving it the potential to disrupt the frozen health food market.

 

“Our PROPASTA™ line is truly revolutionary,” says Nepra CEO David Wood. “Not many frozen food brands are plant-based, gluten-free, allergen-free, high-protein, and low-carb. Spaghetti and meatballs is a universally beloved dish, so it was a natural choice for our introductory product. It also demonstrates the power of hemp protein to transform foods, as our meal’s taste and textures are uncompromised when reinventing the traditional meat-based, gluten-heavy spaghetti and meatballs.”

 

The frozen food market is projected to hit $312.3 billion by 2025, in part due to rising demand for convenience foods, while the global health and wellness foods market is expected to reach $1.1 trillion by 2027. PROPASTA™ sits at the intersection of these growing market segments with its nutritious, high-protein, plant-based meals that are convenient, tasty, and accessible to the everyday consumer.

 

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

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.

 

Media Contacts

Joel Primus

investors@neprafoods.com

Investor Relations Toll-free: (844)-566-1917

 

David Wood, CEO

david.wood@neprafoods.com

(720)-729-8500

 

SOURCE:  Nepra Foods Inc.

Vancouver, BC – November 12, 2021 – Nepra Foods Inc. (OTCPK: NPRFF) (CSE: NPRA) (FSE: 2P6.F) (“Nepra”), creator of nutritious plant-based and allergen-free food, sourced and is taking delivery of a specialty equipment line this week that expands the production of their proprietary THP™ (textured hemp protein), which is the basis for their PROPASTA™ line of ready-to-eat frozen meals and meat analogues. This equipment investment further signals the company’s commitment to their newly launched CPG (consumer packaged goods) product segment and opens the door for strategic partnerships with other food producers and fast-food chains. The arrival of this equipment is particularly exciting for Nepra where the current lead times of shipping large production equipment are at an all-time high due to the global supply chain disruptions.

 

The specialized equipment line, which will be installed in the company’s 31,000 square foot manufacturing facility and test kitchen in Colorado, can create a variety of THP™ products that are included in their PROPASTA™ Spaghetti and Meatballs, PROPASTA™ Chicken Chow Mein, and other meat alternatives.

 

This new equipment allows Nepra to establish a large-scale production process in advance of their PROPASTA™ product launch in early 2022, ensuring continued in-house testing, accelerated product innovation, as well as distribution to stores across the US. According to a McKinsey survey of supply chain leaders, 38% are regionalizing their supply chain due to myriad disruptions from COVID-19 and other issues. Having a US-based manufacturing facility with owned equipment will give Nepra greater control, reliability, and speed-to-market over manufacturing and distribution. Further, ancillary revenue generation is anticipated through the sale of surplus capacity from the expanded production to brand partners in the company’s wholesale division.

 

“This equipment acquisition is just one of many carefully-planned steps to support our PROPASTA™ brand launch and subsequent direct-to-consumer product releases,” says Nepra’s CEO David Wood. “We are fully committed to bringing delicious, plant-based, ready-to-eat meals to health-conscious consumers across the U.S.”

 

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

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.

 

Media Contacts

Joel Primus

investors@neprafoods.com

Investor Relations Toll-free: (844)-566-1917

 

David Wood, CEO

david.wood@neprafoods.com

(720)-729-8500

 

SOURCE:  Nepra Foods Inc

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 Data.  https://www.plantbasedfoods.org/retail-sales-data/

[2] Good Food Institute. U.S. retail market data for the plant-based industry.  https://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

 

 

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 PROPASTA^TM ready-to-eat allergen-free, plant-based meals. PROPASTA^TM 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 PROPASTA^TM 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 PROPASTA^TM 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 PROPASTA^TM 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 PROPASTA^TM for the frozen food aisle. PROPASTA^TM 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.

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.

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.