CALGARY, AB – Sensible Hot Dogs (the “Company” or “Sensible”), an innovative plant-based hot dog company focused on changing the playing field around America’s street food, is pleased to announce that, to date, it has raised $11,990,000 in non-brokered private financings. Sensible went public on the NEO Exchange on December 22, 2022, under the trading symbol “HOTD”, Sensible Meats Inc. (NEO: HOTD).
“Sensible has attracted start-up capital to fuel its food innovation and go-to-market strategy. The Company is well capitalized to launch its operations with goals to disrupt the hot dog market. We’ve taken out all the not-so-great ingredients from the hot dog that are infamously mysterious and created a healthier and tastier frank. The revolution in nutrition, taste, and reduced environmental impact starts with us,” commented Shawn Balaghi, CEO of the Company.
According to The National Hot Dog and Sausage Council (NHDSC), Americans consume about 20 billion hot dogs every year. Yes, that much.
Further statistics by the NHDSC reveal how Americans feel about this treat:
- 95% of American homes eat hot dogs
- The average U.S. resident consumes about 70 hot dogs per year
- U.S. soldiers around the world consumed 2.4 million hot dogs in 2020
Statista also records that:
- In 2020, 255.28 million Americans ate hot dogs
- About 261.42 million Americans will consume hot dogs in 2024
Health researchers at the University of Michigan have found that eating a single hot dog could take 36 minutes off your life.
The global plant-based hot dog market grew substantially in 2022, with an estimated market value of $599.2 Million USD and revenues increasing by more than 20% year on year. This market is expected to continue growing at a CAGR of 19.9%, reaching a market value of $1.99 Billion USD in 2032 (Future Market Insights).
The plant-based meat market is expected to generate revenue of $15.7 Billion USD by 2027, with a CAGR of 14.7%. The global market was estimated to be valued at $7.9 Billion USD in 2022. Plant-based food products are gaining widespread popularity. The plant-based trend continues to grow, encouraging people to eat more fruits, vegetables, legumes, nuts, and seeds (MarketsandMarkets).
“The current meat, dairy, egg, and seafood industries from source to sale cause tremendous suffering, are highly unsustainable, and contribute to a wide range of lifestyle diseases. Sensible aims at a healthier, more sustainable, and more humane food option for consumers,” commented Mr. Balaghi.
About Sensible Hot Dogs (NEO: HOTD)
Sensible Meats Inc., dba Sensible Hot Dogs, is an innovative hot dog company focused on changing the playing field around America’s street food. The Company’s goal is to transform the consumer experience of plant-based eating and to prove that tasty foods can also come from less processed, natural ingredients. Sensible is going above and beyond the impossible to deliver the world’s tastiest, healthiest, and smartest hot dog.
On behalf of the Board
Shawn Balaghi, CEO
Sensible Hot Dogs+
Forward Looking Statements
This press release contains statements which constitute “forward–looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions. Readers are cautioned that forward–looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning the business of the Company’s future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward–looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward–looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Company’s prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward–looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward–looking information except as otherwise required by applicable law.
The Company’s securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither the NEO Exchange nor any securities regulatory authority has approved or disapproved the contents of this press release.
