Goodfood Appoints Greg Christopher to its Management Team as Executive Vice President of Operations

MONTREAL, April 12, 2021 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced today that Greg Christopher will be joining its management team as Executive Vice President of Operations effective today April 12, 2021.

“We are very excited to welcome Greg as Goodfood’s EVP of Operations. He brings with him a wealth of experience, business leadership and entrepreneurship acquired through various roles from great companies such as Nestlé. These unique assets will help strengthen the core competency and competitive advantages that Goodfood is building across its operations,” said Neil Cuggy, President and Chief Operating Officer of the Company. “Greg’s achievements over a career spanning four decades will strengthen Goodfood’s edge and defensibility across the value chain and his customer-focused operational leadership is a perfect fit with our core value of putting our members at the centre of everything we do,” concluded Mr. Cuggy.

Greg has nearly 35 years of experience in defining and executing ambitious operational roadmaps while building and leading high performing teams. He most recently was a Principal at Bridgeview Business Consulting, where he provided end-to-end business consulting and advisory roles for executives to drive strategic plans, continuous improvement, digitization, and operations talent assessments. Greg also spent 30 years at Nestlé S.A. in various roles culminating in his 7 years as Senior Vice President, Supply Chain Operations and Market Continuous Improvement, before joining Tilray where he was an Executive Vice President, reporting to the CEO and responsible for all aspects of operations. At Goodfood, Greg will be in charge of the day-to-day and growth of operations across all facilities, supply chain and sourcing, continuous improvement, and food safety, and will report to the President and Chief Operating Officer.

“Goodfood offers a unique, innovative and visionary opportunity to conveniently deliver groceries and meal solutions purchased online to Canadians everywhere. I am looking forward to the exciting journey of building a world-class value chain and operational footprint, and rolling out an impressive plan of automated and tech-enabled centralized production facilities and local fulfilment centres that meet the needs of our rapidly customer base,” said Greg Christopher.

ABOUT GOODFOOD

Goodfood (TSX:FOOD) is a leading online grocery company in Canada, delivering fresh meal solutions and grocery items that make it easy for members from across Canada to enjoy delicious meals at home every day. Goodfood’s vision is to be in every kitchen every day by enabling members to complete their grocery shopping and meal planning in minutes. Goodfood members have access to a unique selection of online products as well as exclusive pricing made possible by its world class direct-to-consumer infrastructure and technology that eliminate food waste and costly retail overhead. The Company’s main production facility and administrative offices are based in Montreal, Québec, with five additional production facilities located in the provinces of Québec, Ontario, Alberta, and British Columbia. A seventh production facility located in the province of Ontario is currently under construction. As at February 28, 2021, Goodfood had 319,000 active subscribers. www.makegoodfood.ca

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FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, and “continue”, as well as the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Forward-looking information is provided for the purposes of assisting the reader in understanding the Company and its business, operations, prospects and risks at a point in time in the context of historical and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes.

Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the following risk factors which are discussed in greater detail under “Risk Factors” in the Company’s Annual Information Form for the year ended August 31, 2020 available on SEDAR at www.sedar.com: limited operating history, negative operating cash flow, food industry, quality control and health concerns, regulatory compliance, regulation of the industry, public safety issues, product recalls, damage to Goodfood’s reputation, transportation disruptions, product liability, ownership and protection of intellectual property, evolving industry, unionization activities, reliance on management, factors which may prevent realization of growth targets, competition, availability and quality of raw materials, environmental and employee health and safety regulations, online security breaches and disruption, reliance on data centers, open source license compliance, future capital requirements, operating risk and insurance coverage, management of growth, limited number of products, conflicts of interest, litigation, catastrophic events, risks associated with payments from customers and third parties, being accused of infringing intellectual property rights of others and, climate change and environmental risks. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning the availability of capital resources, business performance, market conditions, and customer demand. In addition, information and expectations set forth herein are subject to and could change materially in relation to developments regarding the COVID-19 pandemic and its impact on product demand, labour mobility, supply chain continuity and other elements beyond our control. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.