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VANCOUVER, BC, Sept. 27, 2021 /CNW/ - Yumy Bear Goods Inc., (CSE: YUMY) ("Yumy Bear Candy" or the "Company") an affordable low sugar plant-based confectionery company, announced today that they have successfully secured an increase in manufacturing capacity from 500,000 gummies per month to 1,000,000 gummies per month in order to keep up with demand from retail and online sales.
"We are thrilled with the positive response we have received from the initial launch of our products and due to supply constraints, we have secured this increase in our manufacturing capacity to ensure we have the ability to scale up to meet our expected demand. The rate in which Yumy Bear has grown over the past few months has been incredible and we assume we will need to expand our capacity even further in the near future" states Erica Williams, founder and Chief Executive Officer.
Yumy Bear continues to expand its operations nationwide with increasing demand for its products in the confectionery space. As production ramps up, Yumy Bear seeks to attain a strong market share position in the better-for-you category, which targets a broad customer profile, specifically those looking to reduce their sugar consumption or choose plant-based.
"The better-for-you space has been one of the most explosive sectors in the food and beverage industry. We feel there will be continued growth and expansion as we see consumers choosing the healthier option in their food consumption. Yumy Bear is the first low sugar confectionary company to go public on the stock exchange and we are proud to be a pioneer in the confectionary space as well as in the public markets." states Cassidy McCord, Chief Corporate Officer.
"Over the last period we have been receiving a significant amount of inquiries from big box retailers and major distributor parties wanting to work with Yumy Bear. Our goal will be to secure contracts and shelf space with all of these parties." states Jean-Paul Eleizegui, National Director of Sales.
Cautionary Statement Regarding Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable securities legislation. The information in this news release about future plans and objectives of the Company, are forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic vendors; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Yumy Bear Goods Inc.
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