Coho Collective Kitchens Inc. Announces New Board Member, Yuri Fulmer, O.B.C.
Vancouver, British Columbia-- Coho Collective Kitchens Inc. (TSXV: COHO) ("Coho" or the "Company"), a commercial real estate and food technology company that provides private and shared kitchen and food production space to a variety of businesses, is pleased to announce the appointment of Yuri Fulmer, O.B.C., to its Board of Directors, effective February 6, 2023.
Mr. Fulmer is a seasoned entrepreneur, an award-winning businessperson and a proud philanthropist. With over 25 years of experience in the restaurant industry, Mr. Fulmer has grown his first A&W franchise into dozens more. Mr. Fulmer's company, Fulmer & Company, was listed twice on the Profit 100 as one of the country's largest and fastest growing private companies. As Chairman of Fulmer & Company, he works to enable small and mid-cap businesses to reach their next level of growth, while striving to provide an ethical support network for entrepreneurs and their companies.
Over his career, Mr. Fulmer has been honoured with many awards including Canada's Top Forty Under 40 (2008), The BC Community Achievement Award (2010), The Spirit of Vancouver Award (2011), The Ǫueen's Diamond Jubilee Medal (2012), and The Order of British Columbia (2010).
"We are excited to have Yuri Fulmer join the Coho Board," said Andrew Barnes, CEO of Coho. "Yuri's extensive experience in rapidly growing businesses within the food industry and other key sectors will be invaluable to Coho as we grow our company. We are conﬁdent he will provide valuable insights and perspectives as we continue to implement our strategic plan, drive proﬁtability, and boost value for all Coho shareholders."
Grant of Options and RSUs
Coho's Board has approved the grant of 362,500 common share purchase options ("Options") at the Fair Market Value on the date of grant to the non-executive members of its Board of Directors, effective February 6, 2023. The 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. The Options will have a five-year term and will vest in equal installments over a period of 4 years from the date of grant.
Coho has granted 624,500 Restricted Share Units ("RSUs") to the non-executive members of its Board of Directors, employees and consultants effective February 6, 2023. The RSUs will vest in equal installments over a period of 4 years from the date of grant. Once vested, each RSU represents the right to receive one common share of the Company, or an equivalent cash payment or a combination thereof. The RSUs will be granted pursuant and subject to the terms of Coho's Amended and Restated Omnibus Equity Incentive Plan, the applicable grant agreement and with the requirements of the TSX Venture Exchange.
Coho is a growth stage, community-driven, commercial real estate and food technology company that provides private and shared kitchen and production space to food companies from start-ups to restaurant groups seeking turnkey solutions and business services. Each of the Company's customers, called "Members", are revenue generating companies that have signed a membership agreement with Coho for an agreed upon term. The concept falls in line with a rapidly growing trend in the food-delivery industry creating a market for delivery-only and/or virtual restaurant concepts. For more information about how Coho is growing and innovating in the commissary space, visit https://www.cohocommissary.com.
Andrew Barnes, Chief Executive Officer
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 and the factors discussed under "Risk Factors" in the annual financial statements and MD&A of the Company. Coho disclaims any obligation to update these forward‐looking statements.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.