Goodfood Appoints Jonathan Roiter to its Management Team as Chief Financial Officer

MONTREAL, May 12, 2021 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced today that Jonathan Roiter will be joining its management team as Chief Financial Officer, effective June 7, 2021.

“We are very excited to welcome Jonathan Roiter as Goodfood’s Chief Financial Officer. He brings with him a wealth of experience in finance, operations and business leadership through various roles at McKinsey & Company, Ace Bakery and most recently Gildan Activewear. He is experienced in leading financial strategies, building capital markets relationships, initiating financial solutions and implementing internal controls for fast-growing public companies. His strategic finance and operations experience will be a key asset to Goodfood’s management team,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “Jonathan’s achievements and experience are a perfect fit with our growth strategy and his addition to the management team will contribute greatly to achieving Goodfood’s vision of being in every Canadian kitchen every day,” concluded Mr. Ferrari.

Jonathan has over twenty-five years of experience in defining and executing ambitious financial roadmaps while building and leading high-performing teams. He most recently was Senior Vice President at Gildan Activewear, where he led the corporate development and finance functions. Jonathan also spent five years at Ace Bakery as Chief Financial Officer and Chief Operating Officer. At Goodfood, he will be in charge of the day-to-day finance function, overseeing all accounting and finance operations, while providing strategic recommendations supporting Goodfood’s ambitious growth strategy, vision and mission. Mr. Roiter holds a Bachelor of Commerce in Accounting from McGill University, an MBA from the Wharton School of the University of Pennsylvania and is a Chartered Professional Accountant. He will report to the CEO.

“I am thrilled to join Goodfood, a company that is disrupting the Canadian grocery industry by providing its members the ability to complete their grocery shopping and meal planning in minutes, through its world class direct-to-consumer infrastructure and technology. I look forward to working with Jonathan, Neil and the whole Goodfood team, building on the Company’s strong momentum and continuing to enhance value for its shareholders, customers and stakeholders,” said Jonathan Roiter.

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 customers from across Canada to enjoy delicious meals at home every day. Goodfood’s vision is to be in every kitchen every day by enabling users to complete their grocery shopping and meal planning in minutes. Goodfood clients 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

For further information:

Investors and Media
Roslane Aouameur
Senior Director, FP&A and Investor Relations
(855) 515-5191
IR@makegoodfood.ca

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.