THE VERY GOOD FOOD COMPANY RECEIVES RESERVATION OF RIGHTS FROM LENDER IN RESPECT OF FINANCIAL COVENANT DEFAULT

VANCOUVER, BC, Nov. 30, 2022 /PRNewswire/ - The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) ("VERY GOOD" or the "Company") today announced that it has determined that it is not in compliance with the cash coverage ratio financial covenant of not less than 2.50:1:00, as required pursuant to the terms of its loan agreement (the "Loan Agreement") with Waygar Capital Inc. ("Waygar"), which occurrence constitutes an event of default under the Loan Agreement (the "Default").