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VANCOUVER, British Columbia, Sept. 13, 2021 (GLOBE NEWSWIRE) -- FEEL FOODS LTD. (the “Company” or “Feel Foods”) (CSE: “FEEL”) (OTC: “FLLLF”) is pleased to announce that it has entered into a share exchange agreement (the “Agreement”) with Black Sheep Vegan Cheeze Company Corp. (“Black Sheep”), a British Columbia vegan cheese company, and the shareholders of Black Sheep to acquire all of the issued and outstanding common shares of Black Sheep (the ”Acquisition”).

Black Sheep was co-founded in 2017 by a vegan husband and wife team from Armstrong, British Columbia, Canada’s cheese capital with a mantra that; eliminating dairy is not only for the numerous health benefits but also because of the cruelty that happens in the dairy industry, not to mention the environmental impact. A variety of 10 unique vegan dairy substitute products are currently available in over 30 retail locations, including select locations at IGA, Nesters The Very Good Butchers, Pomme natural, Natures Fare, Vegan Supply and many other fine retailers across 16 cities throughout BC as well as online and in person at farmers markets. Feel Foods intends to finance and support a North America wide expansion of this best-in-class brand while working closely with the Black Sheep founders to develop additional exceptional products for the plant-based community.

For more information on Black Sheep’s products and story, visit: http://blacksheepvegancheeze.com/

The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.* The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.*

Feel Foods CEO David Greenway states: “The acquisition of Black Sheep is exciting for the growing Feel Foods family as we continue to increase our footprint in plant-based foods, thereby reducing our ecological footprint on the Planet. We look forward to working closely with Black Sheep and its founding team to expand and develop excellent new products and make them available to everybody looking to enjoy plant-based foods. We are on a mission to transform plant-based food, with no compromises on taste or quality while reducing global environmental impact. Together, by shifting our collective approach to food, we can improve the health of our World, the lives of animals, and preserve valuable resources for generations to come.”

Black Sheep offers great tasting non-dairy cheese alternatives so that cheese lovers can be part of a movement towards a plant-based world, get the benefits for their health, the environment and most importantly, the animals. The transition is easy once you discover products you like and enjoy.

Terms of the Transaction

Pursuant to the terms of the Agreement, on closing of the Acquisition (the “Closing”), the Company will acquire all of the issued and outstanding common shares of Black Sheep (the “Black Sheep Shares”) in consideration for (together, the “Purchase Price”) the issuance 3,400,000 common shares (each, a ”Share”) of Feel Foods and a cash payment of $750,000. Each Share issued in connection with the Purchase Price is subject to a contractual lock-up whereby the shareholder shall not offer, issue, pledge, sell such Share except in accordance with the following release schedule: 10% on the date of closing (the “Closing Date”); 30% on the date that is 6 months after the Closing Date; 30% on the date that is 12 months after the Closing Date; and 30% on the date that is 18 months after the Closing Date.

In addition, Feel Foods has agreed to pay the shareholders of Black Sheep up to an aggregate of $500,000 upon the achievement, by Black Sheep, of at least an aggregate of $500,000 or greater in net sales during the 12 month period starting on the date that is 7 months from the Closing Date and ending on the date that is 18 months from the Closing Date (the “Performance Milestone Deadline”), payable by way of:

(i)  issuance of $125,000 worth of Shares and $125,000 in cash upon the achievement by Black Sheep of $250,000 or greater in net sales on or before the Performance Milestone Deadline; and

(ii) issuance of $125,000 worth of Shares and $125,000 in cash upon the achievement by Black Sheep of an aggregate of $500,000 or greater in net sales on or before the Performance Milestone Deadline.

All Shares issuable to the shareholders of Black Sheep pursuant to the terms of the Share Exchange Agreement will be issued pro rata at a deemed price equal to the lowest price per Share permitted by the policies of Canadian Securities Exchange (“CSE”).

Concurrent to and as a condition to closing, it is expected that each of James and Jenna Johnson, the co-founders of Black Sheep, and Ashala Carlsen will enter into consulting agreements (collectively, the Consulting Agreements”) with Feel Foods pursuant to which they will provide certain consulting services to the Company all on the terms the Consulting Agreements, as applicable.

The Acquisition is subject to certain conditions, including: (i) the completion of satisfactory due diligence; (ii) the receipt of all necessary consents, waivers and approvals, including the approval of the CSE, as applicable; (iii) the entry of the Consulting Agreements; (iv) the production, and satisfactory review by Feel Foods, of the audited financial statements of Black Sheep for the fiscal years ended July 31, 2021 and July 31, 2020; (v) there having been no material adverse effect occurring with respect to the Company or Black Sheep; and (vi) other closing conditions customary for transactions of this nature.

Following the closing, Black Sheep will become a wholly owned subsidiary of Feel Foods Ltd.

 
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VANCOUVER, BC, Sept. 13, 2021 /CNW/ - CULT Food Science Corp. (the "Company" or "CULT"), an innovative investment platform advancing the future of human nourishment with an exclusive focus on clean, lab-grown food, is pleased to announce that it has completed a strategic investment (the "Investment") in MeliBio Inc. ("MeliBio"). Headquartered in Berkeley, California, MeliBio is pioneering a proprietary technology based on plant biology, precision fermentation, and food science that replaces honeybees with microorganisms as a medium for honey production.

MeliBio was founded in 2020 by scientist Aaron Schaller, PhD and honey industry executive Darko Mandich It is focused on bringing innovation to the 9,000-year old global honey industry and making it sustainable, but without sacrificing the taste or benefits associated with high-quality animal analog honeys. Honey production in its current form is damaging to bees and their ecosystems, especially to the 20,000 wild and native bee species that endure immense pressure from commercial beekeeping. MeliBio's goal is to produce honey that matches and improves upon the molecular composition of bee-made honey.

CULT's investment in MeliBio advances its mission of building a focused portfolio of the most innovative, early-stage, lab-grown food companies and assets around the world. Further, this investment diversifies CULT's portfolio to include honey, which is a US$10 billion global market. The lab-grown food industry is in its infancy and is highly fragmented, currently with only one publicly-traded company available to investors in North America. Therefore, CULT is focused on creating an opportunity in the near term for individuals to invest in the future of food by offering access to a promising group of exciting and disruptive private companies in these sectors.

Management Commentary

"At CULT, we believe strongly that the future of food will be science-based. In addition to pursuing lab-grown meat and cultured dairy investments, our team is diligently working to identify and deploy capital to the most innovative early-stage companies across the entire lab grown food ecosystem. The MeliBio team has an unrivalled expertise and passion, and we are thrilled to be able to support their mission of pioneering sustainable honey" said Dorian Banks, CEO of CULT.

About MeliBio

MeliBio is pioneering a proprietary technology based on plant biology, precision fermentation and food science that replaces honeybees with microorganisms as a medium for honey production. The company was founded by scientist Aaron Schaller, PhD and a seasoned honey industry executive Darko Mandich in 2020, both passionate about making the $10B global honey industry sustainable, with a positive impact on bees.

MeliBio is not only working to bring the familiar delicious taste of honey, but it is strongly focused on creating a non-animal product that performs the same as animal analog and brings the amazing benefits that are associated with high quality honeys. By harnessing microbiology and plant-based food science, MeliBio creates clean sustainable honey, with matching nutrient composition and richness as bee-made honey.

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform advancing the future of human nourishment with an exclusive focus on clean, lab-grown food. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early stage cultivated meat and cultured dairy companies around the world.

 
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Herndon, Va.; Aug. 27, 2021 — Predictive maintenance has become more than just a catchword for the packaging and processing industry, growing to an impactful necessity for consumer packaged goods (CPG) companies, according to the Packaging and Predictive Maintenance white paper produced by PMMI, The Association for Packaging and Processing Technologies. Of all the possible digitalization initiatives, including big data analytics, cobots, digital twins and others, predictive maintenance is far and away the most likely to be of interest for CPGs. As the newly released infographic, Predictive Maintenance: More Than a Buzzword, points out, 29.4 percent of CPGs are evaluating the technology, 21.6 percent are piloting it and 23.5 percent have already implemented it.

Avoiding downtime and preventing product loss are the major drivers pushing manufacturers towards implementing predictive maintenance. Due to the nature of packaging machinery, packaging lines are 30 percent more “slightly likely” to fail than other types of equipment. Some types of packaging machinery are more prone to downtime than others, as the infographic highlights, form/fill/seal machinery, labeling, decorating and coding equipment as the equipment types “extremely likely” to suffer downtime.

Predictive maintenance is being touted now because it is the lowest hanging fruit that can be harvested from another much-talked about concept in industry – digitalization. Sometimes also referred to as Industry 4.0, digitalization is quite nebulous as its scope is broad and its cost can be challenging to justify. This is not the case for predictive maintenance, which aims to solve the age-old problem of costly plant downtimes, which can incur millions of dollars of lost output.

New business models are needed to ensure that predictive maintenance delivers on its promise of optimizing equipment performance for CPGs, while ensuring OEMs get the revenue they need to stay in business. The most promising candidate for this, as highlighted in the report and white paper, is Machines as a Service (MaaS), which involves pricing based on performance goals set between the OEM and the end users (such as the number of cases palletized).

If there is one single problem that could hinder the widespread adoption of an MaaS business model for predictive maintenance, it is the aversion that many CPGs have to connecting their machines to the cloud, and to allowing remote access.

According to the PMMI’s Trends in Adoption of Report Access: Moving Forward During Covid 19 white paper, 29 percent of CPG respondents indicated they do not allow any remote access in their facilities. However, 27 percent of respondents allow certain OEMs or service providers to maintain a dedicated connection to specific equipment.

As both PMMI white papers indicate, cybersecurity is the biggest barrier CPGs cite for not using currently available remote access technologies and fully taking advantage of predictive maintenance options. That said, all parties agree that as a result of the global pandemic, the industry has shown a willingness to respond to remote access and forging partnerships between suppliers and end users would go a long way to overcoming the barriers.

As there are many technologies available to safely implement predictive maintenance and remote access, there is no better place to see these technologies up close and personal than at PACK EXPO Las Vegas and Healthcare Packaging EXPO 2021 (Sept. 27-29, Las Vegas Convention Center). Over 1,500 exhibitors will display the latest solutions to implement predictive maintenance, improve efficiency, productivity, automation, health & safety and remote access. No other event in 2021 will bring together a more comprehensive gathering of suppliers offering the opportunity to meet face-to-face to discuss real solutions as well as see new products, technologies and innovations in action. 

Featuring free education events such as the brand-new PACK to the Future Stage, with presentations by industry experts on advancements such as sustainable solutions, smart packaging and artificial intelligence, this year’s event is the place to be to learn about advances in packaging and processing. The ever-popular Innovation Stage, the Forum and countless networking opportunities at PACK EXPO Las Vegas and Healthcare Packaging EXPO, produced by PMMI, provide opportunities for the more than 20,000 executives and plant managers, engineers, brand managers and packaging designers who come to see machinery in action, connect with suppliers, network and gain the latest perspective on a plethora of industries in over 40 vertical markets. 

PMMI continues to monitor local, state and federal guidelines to provide a safe and productive event for all. With its PACK Ready health and safety program, PACK EXPO Las Vegas and Healthcare Packaging EXPO will reunite the packaging and processing community, implementing thorough and up-to-date protocols for a successful in-person event. Learn more at packexpolasvegas.com/packready.

 
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Glenview, IL (September 15th, 2021) — Signode, a leading manufacturer of a broad spectrum of packaging, consumables, tools, software and equipment to optimize end-of-line packaging operations and protect products in transit, is highlighting some of its latest advancements in automation solutions for the packaging industry at Pack Expo 2021 (Las Vegas, September 27-29, Booth #C-5022).

“Our customers are increasingly looking to invest in smart automation solutions and Signode is responding,” said Eric Christensen, SVP Packaging Technologies, Signode. “As our organization has for the past 100 years, we are collaborating with our customers to deliver new technologies and equipment that ensure faster throughput, and help them achieve greater profitability.” 

The Signode team of technical and service professionals will be on-site to demonstrate this new generation of solutions that engender productivity gains with robust ROI implications. Signode’s advancements are already in wide-use across the globe, meeting the demands of the supply chain to enable E-commerce growth, enhance product protection, and respond to increasing sustainability requirements.

Pack Expo 2021 highlights:

New for 2021 -- Enhanced StorFast AS/RS Capabilities

The high density modular automated storage and retrieval system (AS/RS) features a full range of robot-based depalletizing, palletizing and material handling solutions. The newly enhanced cart-based Storfast system now operates at twice the speed with improved control for acceleration and deceleration of the robotic carts. The newly enhanced Storfast components have improved robustness to handle pallets weighing up to 4,400 pounds.

New for 2021 - PackPoint automated packaging line with robotic integration

Signode’s integrated packaging systems include customizable options including case formers, product delivery systems, case sealing, printing, and label applications. New for 2021 and on display at Pack Expo 2021 will be Packpoint’s integration with robotic picking and packing technology.

New for 2021 -- Stainless Steel General Purpose Strapping Machines for the food industry

The organization’s high-performance SGP strapping machines are designed to maximize productivity with up to 65 plastic straps per minute, designed for integration into conveyor systems or usable as a stand alone solution.

The TüV certified stainless versions with IP 56 rating are well proven in harsh environments and enjoy an outstanding reputation in the food industry due to easy cleaning and disinfecting. The technology will be featured on the Pack Expo 2021 show floor simulating a pressurized washdown environment.

 Additional featured technologies and products are the market-leading BXT3 battery tool for manual plastic strapping applications; the LDX-RTB 4.0 semi-automatic case sealer, and a wide range of popular protective packaging options, including dunnage airbags, LOCK N’POP water-based adhesive, MultiWall protective packaging, Angleboard edge protection, Reddi-Pac laminated paperboard packaging, Gale Wrap stretch film, and Caretex Container liners.

The organization will also unveil new logos and brand identities for some of its most popular automation offerings, including StorFast AS/RS, Lachenmeier stretch hood machines, Octopus stretch wrap machines, and Little David case sealers. The new logos are designed to align these historically independent brands with the complete and integrated automation solutions that Signode provides.

The new branding and featured technologies and products at Pack Expo 2021 are a representative sample of the integrated capabilities that Signode offers to the packaging industry. In this era of heightened awareness of automation and its expansion and integration into facilities of all sizes, Signode is focused on offering a comprehensive approach that achieves optimal outcomes through a four-step process undertaken with close customer collaboration.

The four step process includes an initial on-site audit to assess challenges and opportunities; designing equipment, software, and process recommendations; commissioning equipment, configuring software, and providing staff training; and scheduling preventative maintenance and providing on-site support post-installation through its 400-member-strong team of Packaging Plus professionals.

“We’ve been very active in both broadening and deepening our integrated support models offered by our enhanced Packaging Plus service portfolio and technical staff,” said Christensen. “Seamlessly achieving more automated lines and processes presents unique challenges -- from consult and install to on-going service and maintenance -- to keep operations up and profitable.”

Pack Expo 2021 attendees can find more information on Signode’s full slate of corrugated solutions at Booth #C-5022. More information is available at www.signode.com.

 
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CLEVELAND, USA — Doleco USA, the nation’s fastest-growing manufacturer of lifting, sling and load-securing technologies, including the DoNova PowerLash Textile Lashing Chain and PowerLift textile Chain Sling, introduced the new LayerLok XP, AF and SC double-decking systems today. The LayerLok XP and AF are engineered for use in dry van and reefer applications, and the LayerLok SC is specifically designed for installation in shipping containers. All three new LoadLok products are capable of doubling payload capacity, and their introduction greatly increases the options available to the shipping industry. The products were unveiled during a press conference at the Technology Maintenance Council (TMC) 2021 Fall Meeting & Transportation Technology Exhibition in Cleveland, Ohio.

The Time Is Right for a Competitive Alternative

Vehicle freight efficiency is of paramount importance to today’s fleets, and maximizing trailer capacity will continue as a critical concern, particularly as new trailer orders remain backlogged for the near future. Double-decking systems have been around for almost three decades, but the most popular of these systems is based on the use of aircraft seating track. The track, which was never designed for repetitive sliding, or to carry vertical loads, is prone to deform and fail over time. Competition and pricing pressure have also been hindered by the fact that the industry’s two primary double-decking system suppliers are owned by the same parent company.

“The LayerLok XP, AF and SC double-decking systems are each purpose-designed and precision-engineered to meet the harsh demands of the shipping environment,” said Ralph Abato, president and managing director of Doleco USA. “The entry of a new major competitor, like Doleco, into the North America marketplace, will expand customer options and renew competitive vigor within the load securement industry generally, and within the double-decking segment specifically.”

“Today, I’m also announcing that Doleco will offer a free LayerLok XP, AF or SC system to any qualifying fleet.” Abato added.

All “captive” LayerLok systems never leave the trailer and can be stowed at ceiling height when not in use. While different in design, each of the three systems has been optimized to minimize material use and weight, while maximizing strength and durability. The LayerLok XP system is made of proprietary, patent-pending materials that have a higher strength-to-weight ratio than competing products, allowing it to be designed with the thinnest track profiles in the world.

LayerLok XP

The LayerLok XP features a radically different machined aluminum track design with beveled teeth instead of holes or slots. Single- and double-track styles are offered, each with surface-mount, semi-recessed and fully-recessed profiles available. The system’s steel head assembly and beam adjustment tool both glide seamlessly within recessed slots on either side of the teeth, virtually eliminating the snag points common to other systems. Optional head assemblies enable the system to operate at just 60 dB, the quietest double-decking system ever designed.  

The LayerLok XP can also be configured with interconnecting horizontal tracks that use turntable intersections, enabling decking beams to seamlessly switch from vertical to horizontal travel. The unique feature allows users to accommodate a wider array of cargo capacity and securement needs, by letting decking beams serve double duty as shoring beams when needed.

“The LayerLok XP system is the apex of payload maximizing and protection technology,” said Abato. “There is not a better, more versatile or comparably robust double-decking system available anywhere.”

LayerLok AF

The LayerLok AF is designed as an intelligent alternative to the most common aircraft-track-based systems and is modeled on a complementary design, so complementary in fact, that its tracks and decking beams are completely interchangeable with competing systems that are currently installed or now being sold. Single-and double-track styles with surface-mount and semi-recessed versions are also available.

“LayerLok AF is designed as a universal solution for trailer OEMs and fleets that are comfortable with the status quo, but less comfortable with the lack of competitive sourcing and pricing for aircraft-track systems,” said Abato. “In an industry that is somewhat resistant to change, we’re offering complete systems solutions, individual replacement components and everything in between, but I think what we’re really offering is a sense of relief.”

LayerLok SC

The LayerLok SC is designed exclusively for use in 20- and 40-foot shipping container applications. The steel tracks are engineered to be welded into position within the container body. In addition to optimizing container capacity, the LayerLok SC helps protect cargo and maintain its stability during intermodal transfers.

LayerLok XP, AF and SC were developed by The Netherlands-based LoadLok. LayerLok has been in use throughout Europe for more than 15 years and is already available in 42 countries worldwide. Through an agreement with LoadLok, Doleco is now the exclusive North American distributer and co-manufacturer of the LayerLok XP, AF and SC.

“We are excited to partner with Doleco USA to bring these new load-securing, payload-optimizing and cargo-protecting technologies to North America,” said Eelco Noort, product manager for LoadLok.

Doleco USA products are available in the U.S., Canada and Mexico through the company’s Master Distributor network, which includes over 6,000 distribution points. For information on sales and distribution of Doleco USA products call +1 (203) 440-1940 or email sales@doleco-usa.com 

To access high-resolution product images and video of the new LayerLok XP, AF and SC, please visit https://doleco-usa.com/images

 

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