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Exhibit 99.1 FOR IMMEDIATE RELEASE Contact Information : Investor Relations Jeff Sonnek ( 646 ) 277-1263 jeff.sonnek@icrinc.com Landec Corporation Reports Second Quarter and First Half Fiscal Year 2021 Results Reiterates Fiscal 2021 Guidance SANTA MARIA , CA - January 6 , 2021 - Landec Corporation ( Nasdaq : LNDC ) , a diversified health and wellness company with two operating businesses , Curation Foods , Inc. and Lifecore Biomedical , Inc. , reported results for the fiscal 2021 second quarter and year- to - date period ended November 29 , 2020. Looking forward , Landec's strategy to create shareholder value is to deliver against its long- term targets , strengthen its balance sheet , selectively invest in innovation and growth and implement strategic priorities to improve operating margins at Curation Foods and drive top line growth at Lifecore . CEO COMMENTS : Dr. Albert Bolles , Landec's President and CEO stated , " We are delivering against our strategic plan to create shareholder value by significantly improving the performance of Curation Foods in the first six months of fiscal 2021 , supporting the growth of Lifecore , and implementing a comprehensive refinancing of the balance sheet . We drove a $ 10.6 million increase in our first six months adjusted EBITDA versus the prior year period , with both segments contributing to this strong performance . We believe that our hard work to optimize our operations is resulting in significant improvements to our consolidated financial results , which is demonstrated by our $ 33.4 million increase in operating cash flow in the first six months of fiscal 2021 compared to the prior year period . " Dr. Bolles continued , “ At Lifecore , we remain focused on supporting its business development pipeline and advancing commercialization of key projects to drive consistent long - term double - digit growth in a robust CDMO marketplace . At Curation Foods , we believe that we have right sized and focused the business and are beginning to demonstrate significant measurable improvements . This is perhaps most visible in Curation Foods ' gross margin profile , which increased approximately 360 basis points to 9.4 % in the fiscal second quarter compared to 5.8 % in the prior year second quarter . We believe Curation Foods is well on its way to achieving our estimated steady state gross margin targets of 11 % to 14 % by fiscal year - end 2021 that we laid out previously . The improved consolidated cash flow generation , which was largely driven by the turnaround of Curation Foods , allowed us to close on a comprehensive refinancing of our debt facilities on December 31 , 2020 , which provides us the flexibility and terms to continue supporting growth initiatives at both our businesses . Looking ahead , we remain focused on further advancing our key pillars of simplifying the business , achieving operational excellence , and focusing on customer and consumer insight - driven innovation - to execute against our fiscal 2021 plan and to drive consistent improvement in our financial performance . " success - FISCAL SECOND QUARTER 2021 BUSINESS HIGHLIGHTS : • Revenues of $ 130.9 million , a planned decrease of 8.2 % year - over - year • Gross profit of $ 20.6 million , an increase of 33.0 % year - over - year • • Net loss of $ 13.3 million , which includes $ 4.4 million of restructuring and other non - recurring charges such as legal expenses , as well as a Windset non - cash fair market value adjustment of $ 9.4 million , both net of tax Diluted net loss per share of $ 0.45 ; adjusted diluted net income per share of $ 0.02 , which excludes $ 0.15 per share of restructuring and other non - recurring charges , as well as a $ 0.32 per share negative Windset fair market value adjustment , both net of tax