VANCOUVER, British Columbia, July 13, 2016 (GLOBE NEWSWIRE) — GLOBAL GARDENS GROUP INC. (THE “COMPANY”) (CSE:VGM) is pleased to announce that the company projects its third quarter sales revenue to have increased approximately 252% quarter over quarter. Full and final quarter and year-to-date results will be reported in late August.
“We are excited by our progress,” states Rob Harrison President and CEO, Global Gardens Group Inc. Mr. Harrison continues, “This growth has been fuelled by customer demand combined with major new retailers now having ordered the Veggemo product. In the quarter some of Canada’s largest retailers have listed Veggemo (the first non-dairy beverage to originate from vegetables). This expanded customer list includes Sobeys store’s in Atlantic Canada, Ontario and the Western region as well as Metro stores in Ontario and the Longos stores in the Greater Toronto area.”
Mr. Harrison also emphasises that these estimated quarter sales numbers represent the Veggemo shelf stable products sold in retail stores only and this segment is approximately 30% of the overall non-dairy beverage category volume. The refrigerated product segment sold in the dairy cases of grocery stores represents about 70% of category volume and Global Gardens Group is targeting its Veggemo launch in this segment in early 2017.
Today Veggemo can be found in over 1,500 retail outlets in Canada.
About Veggemo
The Veggemo product line is the first and only non-dairy beverage to originate from vegetables and is Global Garden Group’s (VGM) showcase product for the dairy-free industry. Veggemo is available in 3 variants: Original, Unsweetened and Vanilla flavors. The Dairy-free industry continues to witness dynamic growth led by the development of plant-based food and beverages.
Veggemo has received a multitude of awards and accolades from the health & wellness community. This includes being:
- Selected as one of the ten most innovative new products from 300 entrants at the 2015 Canada Grocery Innovation Show.
- One of three finalist brands from over 500 nominations for “Best New Beverage” for a coveted NEXTY Award at Natural Products Expo West in Anaheim which represents the largest health & wellness food & beverage show in North America with over 77,000 attendees.
- The winner as best new Vegan product by VegNews Magazine at the same Expo West trade show.
About Global Gardens Group
Global Gardens Group is comprised of a highly experienced management team and board that have provided senior leadership to many consumer brands including: Neilson Dairy, Ben & Jerry’s and Haagen Dazs Ice Cream, Gillette, P&G, Cadbury Schweppes, Sunkist, Dole, Primo Pasta and Lululemon.
Cautionary Statement:
Certain disclosure in this release may constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required regulatory approvals to complete the Company’s planned private placement and that the Company is able to complete the private placement to support is future planned product launches. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks are detailed from time to time in the Company’s filings with the appropriate securities commissions, and may include, among others, that the private placement will not complete, market conditions, and delays in obtaining or failure to obtain required regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
CONTACT: For further information, please contact: Rob Harrison President & CEO Global Gardens Group Inc. T: 604.351.7609 E: [email protected]