COHO COLLECTIVE ANNOUNCES UPCOMING OPENING OF NEW COMMISSARY KITCHEN ON THE SUNSHINE COAST
The new facility will be Coho's sixth and is centrally located in Lower Gibsons, British Columbia
Vancouver, British Columbia--(July 29, 2022) - Coho Collective (TSXV: COHO) ("Coho" or the "Company"), creator of Canada's premier commissary kitchen and food production spaces, will officially open its new facility in Lower Gibsons ("Coho Gibsons") in early August 2022. Located at 292 Gower Point Road, Gibsons, British Columbia, the shared kitchen space will join a diverse and burgeoning coastal culinary community.
"We thank the community of Gibsons for welcoming our team with open arms, and we can't wait to open the doors to our commissary and restaurant for everyone to enjoy," says Andrew Barnes, CEO of Coho Collective. "Opening our sixth location is a major milestone for Coho, and even more so, our third facility this summer. Now, more than ever, enabling entrepreneurship through access to flexible production space is critically important to sustaining and growing local economies. We are thrilled to be expanding our ability to empower more entrepreneurs throughout our home province of British Columbia."
Coho Gibsons is only a 40-minute ferry ride away from Metro Vancouver, and features 16 potential work stations to support up to 32 different community companies. The 8,445 square foot space is already filling fast, with notable community brands joining Coho's membership including Smokin' Dragon Hot Sauce, Mamma Musey's Pierogi, and Little Spoon Ice Cream. Coho Gibsons also features Coho's first restaurant, Brassica, a community-to-table restaurant highlighting the local bounty of the coast and Pacific Northwest. Brassica is expected to officially open in mid-September.
"Coho Collective continues to invest and grow discerningly into high potential, underserved markets, and what's great about our business model is that Coho works in both small and large communities," adds Barnes. "The Sunshine Coast has a rich and proud history of artisans and makers. The economy here is growing and we're excited to be a part of facilitating the growth of their businesses. In addition, this expansion in Western Canada will further our goals of providing a variety of food companies with space to create and reach new audiences."
Coho's presence on the Sunshine Coast also includes a Sechelt facility located at 4748 Sunshine Coast Highway, Sechelt, British Columbia ("Coho Sechelt"). Coho Sechelt is a mixed-use facility that includes Beach Day, a restaurant, and also commissary kitchen space.
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 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.
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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, Coho's ability to open the locations described in this press release substantially in accordance with the timelines indicated above, the ability of the Company to execute on its strategy and the factors discussed under "Risk Factors" in the final long-form prospectus of the Company dated May 27, 2022. Coho disclaims any obligation to update these forward-looking statements.
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