Company Leadership Revising Targets to Spur Accelerated Growth Trajectory and Timeline , Aiming for 6000 Stores & 20,000 Points of Distribution
VANCOUVER, BC, June 8, 2021 /PRNewswire/ - Rritual Superfoods Inc. ("Rritual"or the "Company") (CSE: RSF) (FSE: 0RW) (OTC: RRSFF) is excited to announce that the Company has surpassed its retail distribution targets for the end of 2021, exceeding 2400 retail locations and 10,000 points of distribution within the first half of the year.
"We set aggressive targets coming into this year, and I am extremely proud of our team and highly encouraged by the commitment we have seen from retailers to the Rritual Superfoods brand and product line as we have surpassed those targets in a matter of months," said Rritual CEO, Mr. David Kerbel. "We are revising our targets based on the current lineup of sku's to reach 6000 stores and 20,000 points of distribution this year, delivering on our brand promise to bring Rritual within arm's length of consumer desire."
These revisions are based on retailer commitments to carrying the Rritual brand. For example, Rite Aid has indicated 20% more stores than anticipated will carry Reishi Relax, Chaga Immune, and Lion's Mane Focus as well as 100% more Rite Aid locations will carry the Variety Pack. The Company's product line is being embraced by consumers, with initial sell through with key retail partners triggering new purchase orders and expansion of retail locations.
By the first week of July, Ritual will be available in 3000 retail locations with over 10,000 points of distribution. In addition, as the Company's innovation pipeline delivers new product offerings there will be further growth in terms of points of distribution.
Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual's proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.
Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. The company is poised to dominate a segment where demand and sales are growing exponentially. Under the executive leadership with over 100 years of CPG pedigree, Rritual is launching in North America in Q2 2021 as the company positions itself as a leader in the functional health and wellness industry. Rritual's superfood elixirs can be found online at www.rritual.com.
Functional Foods Market
According to Grandview Research*, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Rritual's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the Company's plans to leverage third party manufacturing and logistics, the Company's broader retail distribution plans and the Company's other plans, focus and objectives.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rritual's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under "Forward-Looking Statements" and "Risk Factors" in the final long form prospectus of the Company dated February 26, 2021 and available under the Company's profile on SEDAR at www.sedar.com. Rritual undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rritual to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE Rritual Superfoods Inc.