Goodfood Creates Essential Canadian Pay Program Rewarding Employees with a Minimum $2 Hourly Raise for All Operations and Production Staff

Goodfood Creates Essential Canadian Pay Program Rewarding Employees with a Minimum $2 Hourly Raise for All Operations and Production Staff

MONTREAL, March 27, 2020 (GLOBE NEWSWIRE) — Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX:FOOD), a leading online grocery company in Canada, announced today the introduction of its Essential Canadian Pay Program, raising the pay of all its hourly and salaried operations and production employees by a minimum of $2 per hour throughout the duration of the COVID-19 crisis.
“We are proud of our hard-working employees across the country who are instrumental to Goodfood’s operations and to helping Canadians receive groceries and meal solutions delivered safely to their homes during these trying times,” said Neil Cuggy, President and Chief Operating Officer of the Company. “Goodfood is considered an essential service and will remain open for the duration of the current crisis. Our teams recognize the importance of this responsibility and are motivated by their duty to keep Canadians fed and healthy. It was therefore paramount for us to reward our employees with our “Hero Pay Program” during this period, recognizing their continued and incredible efforts in keeping our operations running as efficiently as possible,” concluded Mr. Cuggy.In addition to the Essential Canadian Pay Program, Goodfood will continue to ensure the health and safety of employees throughout the pandemic by enforcing strict hygiene measures and implementing global best practices.As previously indicated, Goodfood is also hiring over 500 new employees to respond to increasing demand from Canadians coast-to-coast. Interested applicants can find all of Goodfood’s current openings by visiting this page: makegoodfood.ca/en/careersAbout GoodfoodGoodfood (TSX:FOOD) is a leading online grocery company in Canada, delivering fresh meal solutions and grocery items that make it easy for members from coast to coast to enjoy delicious meals at home every week. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to do their weekly meal planning and grocery shopping in less than 1 minute. Goodfood members get access to a unique selection of products online as well as exclusive pricing made possible by its world class direct to consumer fulfilment ecosystem that cuts out food waste and expensive retail overhead. The Company has its main production facility and administrative offices based in Montreal, Quebec, two production facilities out West, in Calgary, AB and Vancouver, BC, and a breakfast facility in Montreal, Quebec. Goodfood had 246,000 active subscribers as at February 29, 2020. www.makegoodfood.caFor further information:FORWARD-LOOKING INFORMATION
This 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”, or “continue”, 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, 2019 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, limited number of products, 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, conflicts of interest, litigation, and catastrophic events. 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 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 demand, mobility, supply change and other elements. 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.
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