Very Good Butchers pitch plant-based vegan meat alternatives to Dragons’ Den. (Courtesy Very Good Butchers)

Victoria vegan butcher goes public on stock market

The Very Good Butchers are on the Canadian Securities Exchange

A Victoria business that made waves after appearing on Dragons’ Den has now gone public with shares listed on the Canadian Securities Exchange (CSE).

The Very Good Food Company, which has a line of plant-based meat alternatives under the brand The Very Good Butchers, began trading on the CSE (formerly known as the Canadian National Stock Exchange) on June 18. The company was issued 16,100,000 common shares at a price of 25 cents per share, resulting in gross proceeds of approximately $4,025,000.

In 2018, The Very Good Butchers showcased their products on an episode of Dragons’ Den, about a year-and-a-half after opening their doors. They are one of only two vegan butchers in Canada.

READ ALSO: Very Good Butchers to appear on Dragons’ Den

Before opening the storefront location in the Victoria Public Market, the company was already successful on the farmers market circuit. On opening day of the retail store and restaurant, the company location saw more than 1,000 people looking to purchase products. They had to close the doors for one week while they restocked.

The store is also online, where customers can subscribe to monthly deliveries of an assortment of vegan goods.

Chief executive and director Mitchell Scott said the $4 million proceeds the company received from going public will likely be used to accelerate expansion plans, including the launch of a Vancouver location, and to continue researching and developing innovative new products to increase market share.

READ ALSO: Meatless Christmas dinner options popular in Victoria

“This initial public offering is a critical milestone for The Very Good Food Company, as it provides us with the capital to realize our vision of becoming a global leader in food technology, and providing a healthier alternative to existing options available to consumers,” Scott said in a news release. “We intend to scale our operations aggressively, establish a market leadership position and continuously reinvent in creating the highest quality, most innovative plant-based products.”

The company can be found on the CSE under the symbol “VERY.”

shalu.mehta@blackpress.ca


Like us on Facebook and follow us on Twitter

BusinessStocksVegan and VegetarianVictoria

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Product seized from a Victoria cannabis compassion club for a second time

The Cannabis Buyers Club has been operating on Johnson Street since 2001

Driver slapped with $483 ticket for excessive speeding in Saanich construction zone

Police traffic unit reminds drivers to slow down in McKenzie interchange

Victoria International Airport deemed the most efficient for its size

Ranking appears in a report comparing airports across three international areas

Saanich makes ALC appeal for Prospect Lake Elementary parking, portables

Council votes in favour of seeking non-farm use designation

Victoria police investigating chop-shop found in Beacon Hill Park

Police asking public to register bikes with them in case lost or stolen

Recent surge in COVID-19 cases not unexpected amid Phase Three of reopening: B.C.’s top doc

Keep circles small, wear masks and be aware of symptoms, Dr. Bonnie Henry says

Greater Victoria Crime Stoppers wanted list for the week of July 13

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

COVID-19 gives B.C. First Nation rare chance to examine tourism’s impact on grizzly bears

With 40 infrared cameras deployed in Kitasoo-Xai’Xais territory, research will help develop tourism plan with least impact on bears

NDP wants Lower Mainland MLA removed from BC Liberal caucus for alleged homophobia

BC Liberal leader, some MLAs apologize for Christian magazine ads but Laurie Throness doubles down

B.C. health officials pleased with likely extension of Canada-U.S. border closure

Health Minister Adrian Dix says the situation is ‘very serious in the United States’

Children suffer swollen eyes, burns while playing at Lower Mainland spray park

Mission RCMP are investigating incident that injured several children

B.C. NDP changing WorkSafeBC regulations to respond to COVID-19

Employers say reclassifying coronavirus could be ‘ruinous’

Statistical flaws led to B.C. wolf cull which didn’t save endangered caribou as estimated

Study finds statistical flaws in an influential 2019 report supporting a wolf cull

Beloved Island woman dies at 106

Dorothy Adair adored by the many people she met in Chemainus in two short years

Most Read