Rritual Superfoods Third Full Scale Manufacturing Run is Scaled to Meet Growing Retail Demand
April 29, 2021 (Source) — Production Designed to Serve Recently Announced CROSSMARK Driven Rollout
Rritual Superfoods Inc. (“Rritual” or the “Company”) (CSE: RSF) (FSE: 0RW) is pleased to provide an update on its third full scale production run which commenced in mid-March 2021. Building from the Company’s newly established relationship with CROSSMARK, the Company confirms that its third full scale manufacturing run, nearing completion, has been scaled to service distribution to 2,400 retail stores with 10,000 points of distribution.
As a result of the Company’s strategic sales campaign, mass retail response and demand for the Rritual Superfoods lineup continues to strengthen meaningfully on a daily basis. The Company’s strategic focus on building a national presence in the USA, powered by its CROSSMARK relationship, necessitates an agile and sophisticated manufacturing capability from the acquisition of raw materials all the way to fulfillment at the store level.
“As the demand forecast continues to accelerate, the Company has developed the relationships and capacity to exceed the production and fulfillment requirements of our most aggressive modelling,” said Mr. David Kerbel, Rritual President and CEO. “Our team, including our foundational relationships such as CROSSMARK, have exceeded expectations putting the Company in position to embrace its growth trajectory as our national rollout begins to build momentum.”
Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. The company is poised to dominate a segment where demand and sales are growing exponentially. Under the executive leadership with over 100 years of CPG pedigree, Rritual is launching in North America in Q2 2021 as the company positions itself as a leader in the functional health and wellness industry. Rritual’s superfood elixirs can be found online at www.rritual.com.
Functional Foods Market
According to Grandview Research*, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to Rritual’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the Company’s plans to leverage third party manufacturing and logistics, the Company’s broader retail distribution plans and the Company’s other plans, focus and objectives.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rritual’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under “Forward-Looking Statements” and “Risk Factors” in the final long form prospectus of the Company dated February 26, 2021 and available under the Company’s profile on SEDAR at www.sedar.com. Rritual undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rritual to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.