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Over the course of the past two weeks, many stocks have managed to rally strongly and one of the more notable ones has been The Very Good Food Company (OTCQB: VRYYF). During that period, the TVGC stock has rallied by as much as 70% on the back of important developments. In that light, it could be a good idea on the part of investors to take a closer look at the developments surrounding TVGfC.
New Distribution Partnership
On October 22 the company announced that it signed a new wholesale distribution partnership in Canada. On top of that, the company also announced the number of retail distribution points has also been boosted in Western Canada.
The company signed the distribution agreement with UNFI Canada by way of which products from The Very Good Butchers are going to be distributed all over Canada. However, the distributors are going to concentrate on the Eastern Coast of Canada first.
In this regard, it is also necessary to add that UNFI is one of the biggest distributors in North America. According to UNFI’s company’s own projections, it is going to distribute products to the tune of as much as $21 billion. UNFI distributes products through as many as 10000 suppliers and 40000 retail partners.
The rise in Distribution Points
TVGFC is looking at ways to expand the footprint of products from The Very Good Butchers and to that end; it has managed to boost the number of distribution points. Other than the distribution deal with UNFI, the company has also managed to raise the number of distribution points to as many as 275.
The above-mentioned figure reflects a rise of as much as 34% from the month of July. In addition to that, it is necessary to point out that the willingness of the distributors to raise the number of distribution points is an indication of the rise in demand for products from The Very Good Butchers.
October proved to be a particularly eventful month for TVGFC as the company also announced its uplisting to the OTCQB Market.
It is a significant development for the company and the shares started trading on the exchange on October 14. OTCQB is managed by OTC Market Group and generally lists companies that are still at an early stage of development.
Companies from both the United States and overseas can get listed on the market.
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