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Planting Hope Reports Record Revenues of $3.3 Million (CAD $4.2 Million) in Q2 2022

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CHICAGO, IL and VANCOUVER, B.C. / ACCESSWIRE / August 25, 2022 – The Planting Hope Company Inc. (TSXV: MYLK) (OTCQB: MYLKF) (FRA: J94) (“Planting Hope” or the “Company”), a plant-based food and beverage company focused on producing the world’s most nutritious and planet-friendly products, is pleased to report financial results for the three and six months ended June 30, 2022. All figures are in U.S. dollars unless otherwise stated.

“For the second consecutive quarter, we have continued to demonstrate growth and momentum as our team expanded distribution and increased velocity of our core products into key retail channels,” said Julia Stamberger, CEO and Co-founder of Planting Hope. “In particular, we saw increased adoption of our flagship Hope and Sesame® Barista Blend by numerous café channel distributors and coverage by major news media reporting on sesamemilk as a new up-and-coming trend in plant milk to watch. We also showcased our product lines at eight leading industry trade shows in the U.S. and Canada, including foodservice, coffee industry, and grocery-retail focused shows, introducing our award-winning brands to new buyers across channels and geographies both domestically and globally. Given the retailer sales cycles, we expect to see the interest from retailers materialize into new distribution partnerships over the next 12 to 18 months.”

Q2 2022 Financial Highlights:

Achievements in the first half of 2022 include:

Outlook and Growth:

The Company continues to effectively execute on its business plan for 2022, including expanding core products in key channels, and setting up new products and distribution that will achieve scale in 2023.

Key growth priorities for the second half of 2022 include:

Financial Statements & Management’s Discussion and Analysis

This earnings press release should be read in conjunction with Planting Hope’s consolidated interim financial statements and management’s discussion and analysis, which have been posted on SEDAR at www.sedar.com and the Company’s website at www.plantinghopecompany.com.

Planting Hope to Host Investor Webcast

The Company will be hosting an investor webcast today, August 25, 2022, at 2:00 PM ET.

During the webcast, Julia Stamberger, CEO and Co-founder, will conduct a presentation that will cover key areas of Planting Hope's business. After the formal presentation, investors will have an opportunity to ask relevant questions through an interactive Q&A portal. To listen to the webcast or to ask questions during the live event, please pre-register at the following link:

Webcast Link: https://event.webcasts.com/starthere.jsp?ei=1564145&tp_key=584573da6c  

An archived version of the webcast and presentation will be available on the Company's website, https://plantinghopecompany.com/investors/presentations/.

About The Planting Hope Company Inc.

Planting Hope develops, launches, and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope’s award-winning and cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. The Planting Hope brand family includes Hope and Sesame® Sesamemilk and Sesamilk™ creamers, RightRice® Veggie Rice, Mozaics™ Real Veggie Chips, and Veggicopia® Veggie Snacks. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company focused on nutrition, sustainability, and diversity. For more information, visit: www.plantinghopecompany.com.

For purposes of currency FX conversion, this press release uses a $0.78 CAD to USD conversion rate.

Company Contact:

Julia Stamberger
CEO and Co-founder
(773) 492-2243

Investor Relations Contacts:

Glen Akselrod,
Bristol Capital
(905) 326-1888 ext. 1

Caroline Sawamoto,
IR Labs
(773) 492-2243

Media Contact:

Alex Jessup,
Jessup PR
(323) 529-3541

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including statements about the Company's ability to execute on its goals, the timing pertaining to these goals the potential demand for the Company’s products, the timing and success of anticipated product launches and distribution of the Company’s products, and the Company's business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In preparing the forward looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that demand for the Company’s product will be sustained or increase in accordance with management’s projections, that the Company’s internal research and analysis is indicative of broader market trends and the Company’s anticipated future demand for its products, that changes in consumer preferences in the plant-based food industry will continue in accordance with the Company’s expectations, that the Company’s current business objectives can be achieved and that its other corporate activities will proceed as expected, and that general business and economic conditions will not change in a materially adverse manner. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that any forward-looking statement herein will prove to be accurate. Forward-looking statements involve 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 statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the Company’s annual information form dated January 6, 2022 and the Company's continuous disclosure record available on SEDAR at www.sedar.com. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

General Contact

  • US Address

    4710 N. Sheridan Road
    Chicago IL
    60640 USA
  • Canadian Address

    c/o Bentall 5
    550 Burrard Street, Suite 1008
    Vancouver, British Columbia, V6C 2B5