MODERN MEAT REPORTS PROGRESS ON PRODUCTION IN EXPECTATION OF NEW ORDERS

VANCOUVER, BC, Jan. 19, 2023 /CNW/ - Modern Plant Based Foods Inc., (CNSX:MEAT.CN) ("Modern Foods") or (the "Company"), an award-winning plant-based food company is pleased to report that Modern Meat Inc., ("Modern Meat"), a portfolio company of Modern Plant-Based Foods, has made significant positive progress on expanding production capabilities with a copacker in Saskatchewan. The management team has completed initial testing on prototypes and aims to move forward with initial production runs in the next few months. This improvement to production capacities will allow Modern Meat to sufficiently supply its Modern Seafood products to larger-scale restaurants and retailers. The Company expects to see increased demand due to the competition in the plant-based industry beginning to shrink.