Nabati Foods Initiates Leadership Transition Amidst Company Growth, Appoints CPG Veteran as Interim CEO

Company founder Ahmad Yehya will remain active in the Company and step into the role of COO

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Nabati Foods Global Inc. (CSE: MEAL) (FSE:7UW) (“Nabati Foods” or the “Company”), a plant-based food technology company offering whole, natural, plant-based foods for health-conscious consumers, is announcing that it has initiated a leadership transition following a year of tremendous growth. Michael Aucoin, an experienced consumer packaged goods executive that has been working alongside Nabati Foods via Eat Beyond Global Holdings (“Eat Beyond”), an investor in Nabati Foods, will step in as interim CEO, effective immediately.

Nabati Foods founder Ahmad Yehya will step down from the CEO role and continue to be involved in the day-to-day operations of Nabati Foods in the role of COO.

Mr. Aucoin also currently serves as CEO of Eat Beyond, which has been a key partner for the Company. He has more than 25 years of experience in consumer packaged goods (CPG) general management roles as well as sales and market/corporate development roles. Prior to joining Eat Beyond in July, Mr. Aucoin held leadership roles at Agropur Cooperative (President), Advantage Solutions (President - Canada), and Hershey Canada (VP Sales), amongst others.

“I look forward to building on the tremendous success that Mr. Yehya and the Nabati Foods team have achieved in such a remarkably short time,” Aucoin said. “Nabati Foods is committed to leading the evolution of food creating great-tasting, plant-based meals made in ethically and environmentally responsible ways. Mr. Yehya and the founders built the company on a strong foundation of passion, values, hard work, and a commitment to excellence, and I’m ready to build upon that momentum while leveraging my significant experience in the food and CPG sectors.”

Nabati Foods products are sold globally across three continents. All of its products are kosher, vegan, egg-free, dairy-free, gluten-free, and non-GMO. The Company has built multiple diverse revenue streams across grocery, foodservice, industrial, and eCommerce channels.

“Building Nabati Foods has been an incredible journey thus far, and I am extremely proud of the work that we have done to date,” Yehya said. “We created Nabati Foods because we saw a gap in the market for plant-based, healthy options that would never feel like a trade-off. Our creations have now expanded into a fast-growing business with multiple product lines distributed globally. I look forward to the growth that Mr. Aucoin’s expertise can help us to achieve as we move into this next phase.”

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About Nabati Foods Global Inc.

Nabati Foods Global Inc. is the owner of Nabati Foods Inc. (“Nabati Foods”), a family-founded food technology company offering whole, natural, plant-based, gluten, and soy-free foods for health-conscious consumers. Nabati Foods was founded in 2014 and has four signature product lines including dairy-free cheesecakes, cheese alternatives, plant-based meats, and a plant-based liquid egg alternative. Nabati Foods products are distributed throughout Canada, the U.S., and internationally through eCommerce, grocery, foodservice, and industrial channels. Learn more: https://invest.nabatifoods.com/

ON BEHALF OF THE BOARD OF DIRECTORS:

Ahmad Yehya
Director and COO

For investor inquiries or further information, please contact:

Greg Foofat
Director, Investor Relations
Email: ir@nabatifoods.com
Telephone: 780-800-6624

For media inquiries, please contact: Brittany@Exvera.com

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No securities regulatory authority has either approved or disapproved of the contents of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Nabati in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities may not be offered or sold within the U.S. or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Disclaimer for Forward-Looking Information

This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking information in this news release includes statements concerning the Company’s general business plans. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described in the risk factors in the Final Prospectus, and the schedules attached thereto, that are available on the Company’s profile on SEDAR at www.sedar.com.

Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.