Goodfood Innovates for Sustainability as First to Operate Fully Electric Cold Delivery

MONTREAL and VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD) a leading online grocery company in Canada, this week leads sustainability efforts in Canada’s grocery industry by launching a fully electric refrigerated vehicle fleet – a first for any private entity in Canada. Goodfood continues to evolve and lead environmental impact through technology as the newly electric refrigerated vehicles begin rolling out across Vancouver throughout September.

“As Canada aims to shift to all zero-emission electric vehicles by 2035, we are thrilled with this exciting step in launching fully electric refrigerated vehicles in Vancouver this year,” said Goodfood Chief Executive Officer, Jonathan Ferrari. “Innovation in technology is a core pillar for us at Goodfood. As we continue to set the bar for a sustainable future, like our fully recyclable Goodfood meal kit boxes and our plant-based ready-to-eat salad packaging, we want to go beyond our products and bring sustainability in grocery through delivery.”

In collaboration with Lightning eMotors, Volta Air and Frigid Rentals, Goodfood is the first private entity to receive a pre-approved grant from Plug-In BC for electric charging infrastructure. The vehicles themselves have an estimated range of 200 kilometers on a full charge of its 86-kWh battery pack, regenerative braking, and can comfortably hit 120km/hour – silently.

“As program lead for the Fraser Basin Council’s Climate Change and Air Quality Program, we are pleased to have been part of this collaboration with Goodfood and their continued commitment to pushing boundaries of what food and grocery look like across the country,” said Plug-In BC Program Lead, Charging Infrastructure, Inger Miller. “Going electric allows fleets to save on operational costs and reduce emissions for a sustainable future and we continue to do this through great partnerships with Canadian owned companies like Goodfood.”

Goodfood’s partnership with Plug-In BC is one of the many initiatives to innovate the way Canadians think about and access groceries, including this week’s launch of Same-Day / Next-Day Unlimited Delivery service in the Metro Vancouver Area. It also follows Goodfood being named for the second consecutive year on the third-annual TSX30™ list this week, as the company continues to innovate for top performance and growth. “We will continue to establish efficient and sustainable practices throughout our company,” said Goodfood President and Chief Operating Officer, Neil Cuggy.

The 10 newly electric refrigerated vehicles will launch in Vancouver, British Columbia with continued roll-out in the coming months across Canada.

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 additional production facilities located in the provinces of Quebec, Ontario, Alberta, and British Columbia.

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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 on 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: limited operating history, negative operating cash flow, food industry , COVID-19 pandemic as well as the impact of the vaccine rollout, quality control and health concerns, regulatory compliance, regulation of the industry, public safety issues, product recalls, damage to Goodfood’s reputation, transportation disruptions, storage and delivery of perishable foods, product liability, unionization activities, consolidation trends, ownership and protection of intellectual property, evolving industry, 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 duration and severity of the COVID-19 pandemic as well as the impact of the vaccine rollout 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.