Vancouver, British Columbia--(Newsfile Corp. - February 9, 2024) - Coho Collective Kitchens Inc. (TSXV: COHO) ("Coho" or the "Company"), a leader in the food & beverage space, is excited to announce the appointment of two distinguished leaders, Dan Haroun and Marija Radulovic-Nastic, to its Board of Directors ("Board") effective February 8, 2024. Their extensive expertise in technology, finance, and the food industry will undoubtedly bring a unique perspective to the organization as it continues to evolve and expand.
Mr. Haroun has held leadership roles at Restaurant Brands International, Walmart Canada, and Freshii, including serving as CEO and CFO before the sale of Freshii in 2023. Mr. Haroun's broad experience across finance, strategy, real estate and supply chain, particularly in supporting the growth of global brands makes him an invaluable addition to the board as we look to scale Purebread across Canada. Mr. Haroun, a CPA and CA, will also be joining our audit committee, adding value with his expertise and financial acumen.
Ms. Radulovic-Nastic, Chief Technology Officer (CTO) of Electronic Arts, brings a wealth of experience in technology and innovation to Coho. As a seasoned leader in the technology industry, Ms. Radulovic-Nastic has successfully managed global teams, navigated complex organizational challenges, driven advancements and fostered a culture of innovation. Her strategic mindset and passion for leveraging technology to create positive change align seamlessly with Coho's mission.
"We are delighted to welcome Mr. Haroun and Ms. Radulovic-Nastic to our Board," said Andrew Barnes, CEO at Coho. "Their unique blend of financial strength, technological innovation and entrepreneurial spirit will play a crucial role in steering our organization towards new heights. We look forward to their insights and contributions as we continue to empower food entrepreneurs and drive positive change in the culinary world."
The announcement of these appointments follows Yuri Fulmer's decision to step down from the Board. Coho extends its deepest appreciation to Mr. Fulmer for his dedicated service, guidance and valuable contributions during his tenure.
Coho remains committed to advancing culinary innovation and collaboration within local communities. With the addition of Mr. Haroun and Ms. Radulovic-Nastic to its Board, the organization is poised for a transformative journey towards a future where technology and sustainable practices converge.
Grant of RSUs and Options
In connection with the appointments, Coho's Board has authorized the grant of 93,750 restricted share units ("RSUs") each to Ms. Radulovic-Nastic and Mr. Haroun, effective February 8, 2024. The RSUs will vest in equal amounts over three years, commencing on the first anniversary of the grant date. Once vested, each RSU represents the right to receive one common share of the Company or the equivalent of cash value or a combination thereof, at the discretion of the Board.
In addition, Coho's Board has also authorized the grant of 93,750 stock options (the "Options") each to Ms. Radulovic-Nastic and Mr. Haroun, effective February 8, 2024. Each option is exercisable for one common share of the Company, at an exercise price of, the greater of $0.17 or the Fair Market Value on the date of grant, for a period of 5 years. The Options will vest in equal amounts over four years, commencing on the first anniversary of the grant date.
The 187,500 RSUs and 187,500 Options will be granted pursuant and subject to the terms of Coho's Amended and Restated Omnibus Equity Incentive Plan, the applicable grant agreement, and the requirements of the TSX Venture Exchange.
About Purebread and Coho Collective Kitchens Inc.
Coho is a growing player in commercial real estate and food technology, operating fast casual restaurants and shared-kitchen facilities. As Canada's largest shared-kitchen company, Coho is expanding its presence and services. Through their combined efforts, Coho and Purebread strive to positively impact the communities in which they operate.
For more information, please visit cohocollectivekitchens.com or contact:
Andrew Barnes, Chief Executive Officer
Coho Collective Kitchens
andrew@cohocommissary.com
(778) 877-6513
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. 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 the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy, the growth and performance of the ghost kitchen industry globally and in Canada; risks inherent in the ghost-kitchen, retail bakery, or coffeehouse sectors in general; that future results may vary from historical results; and competition in the markets where Coho operates. Except as required by securities law, Coho does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197335
SOURCE: Coho Collective Kitchens Inc.
