VANCOUVER, BRITISH COLUMBIA — Solegear Bioplastic Technologies Inc. (the "Company" or "Solegear") (TSX VENTURE:SGB) announced today that it has received new food packaging purchase orders from a leading U.S. grocery retailer with over 120 locations. The purchase orders include 10 different packaging designs across the Bakery and Ready-Made Meal categories. This program will generate revenue throughout the Company's current fiscal year. Both parties are concurrently exploring additional opportunities to expand the program to additional categories.
"We are very pleased to see demand from leading U.S. brands and retailers continue to grow for our plant-based packaging," said Paul Antoniadis, CEO of Solegear. "Our relationships with 60+ customers reinforces our approach to work collaboratively with leading brands, food producers and retailers to become their preferred partner offering the widest assortment of plant-based products and packaging."
Solegear's food packaging assortment now includes over 120 plant-based options across bakery, ready-made meals, produce, deli and dairy categories. The Company also offers custom packaging design services to meet specific branding, sustainability, food security and visual merchandising requirements.
About Solegear Bioplastic Technologies Inc.
Solegear Bioplastic Technologies Inc. (TSX VENTURE:SGB) is an innovator in the field of next generation bioplastics made from annually renewable plant-based sources. Committed to the principles of Green Chemistry, Solegear is driven by its mission to create healthier, safer and stronger communities by fundamentally changing the way plastics are made.
Solegear's proprietary bioplastic formulations are designed to meet today's social and corporate requirements to lower carbon emissions, reduce waste and remove toxicity typically associated with traditional petroleum-based plastics. Together with its partners, Solegear custom engineers, produces and distributes its high-performance bioplastics as resin, sheets and finished goods with some of the highest percentages of renewable, plant-based materials currently available in the industry.
For more information: www.solegear.ca and www.mygoodnatured.com
On behalf of the Company:
Paul Antoniadis, Chief Executive Officer and Director
Contact: 604-998-4058
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the risk that: (i) future orders may not be placed by the customer; and (ii) that sales projections may not be within the current range forecasted.
When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
Source: Solegear Bioplastic Technologies Inc.
