Coho Collective Kitchens Inc. Announces Former Reef Technology VP Operations as Senior Director, Business Development
Vancouver, British Columbia--(August 15, 2022) - 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 Matthew Kenney ("Kenney") as its new Senior Director of Business Development.
Kenney joins Coho after an extensive career with Reef Technology ("Reef") as Vice President of Operations, with duties including Head of Kitchens & Retail (Canada). His experience within Reef, a hyper-growth organization, helped scale notable brands such as Wendy's, Mr. Beast Burger and others across North America in record numbers. Joining Coho as their Senior Director of Business Development, his focus is on rapidly growing their business and furthering it as an industry leader.
Kenney brings deep knowledge, passion and in-depth understanding of the ghost and shared kitchen business, and will be instrumental in ensuring optimum network growth and performance across North America for Coho.
"Matthew has a deep understanding of the marketplace, and what ghost kitchen companies need to thrive in a competitive marketplace," said Andrew Barnes, CEO of Coho Collective. "We are very excited to utilize his vast experience in helping scale Coho across Canada and North America, to help propel Coho into an even more dominant industry leader."
Effective August 15, 2022, Carla Matheson, CA ("Matheson"), officially begins her position as Chief Financial Officer for Coho Collective Kitchens Inc. Barnes, who temporarily assumed the role of interim-CFO, will return to focus efforts solely on his CEO duties.
Incoming Corporate Secretary
Coho is also pleased to announce the appointment of Ms. Bernadette D'Silva ("D'Silva") as Corporate Secretary of the Company. D'Silva is a Corporate Compliance and Governance Professional with an extensive background in Corporate Securities spanning over 20 years. She has over 12 years of experience in advising and assisting Canadian public companies with their continuous disclosure obligations and regulatory compliance requirements. D'Silva is a Member of the BC Securities Corporate Finance Stakeholder Forum.
Grant of Options and RSUs
Coho's Board has approved the grant of 400,000 restricted share units ("RSUs") to a corporation owned and controlled by Matheson, effective August 15, 2022. The RSUs will fully vest one year from the date of grant. Once vested, each RSU represents the right to receive one common share of the Company. Matheson's RSUs will be granted pursuant and subject to the terms of Coho's omnibus incentive plan (the "Omnibus Plan"), the applicable grant agreement, and the requirements of the TSX Venture Exchange.
Coho's Board has also approved the grant of 120,000 RSUs to a corporation owned and controlled by D'Silva, effective August 15, 2022. The RSUs will fully vest 1 year from the date of grant. Once vested, each RSU represents the right to receive one common share of the Company. D'Silva's RSUs will be granted pursuant and subject to the terms of Coho's Omnibus Plan, the applicable grant agreement, and the requirements of the TSX Venture Exchange.
Finally, as previously disclosed, Coho will be issuing 150,000 common share purchase options ("Options") to Apollo Shareholder Relations ("Apollo") at Fair Market Value (as defined in Coho's Omnibus Plan), effective August 15, 2022. The Options will be granted pursuant and subject to the terms of Coho's omnibus incentive plan, the applicable grant agreement, and the requirements of the TSXV Venture Exchange. Apollo's Options will vest over a period of twelve months (in equal parts, every three months).
In addition to the grants to Matheson, D'Silva, and Apollo, Coho also granted another 400,000 Options and 1,352,500 RSUs to various employees and contractors on August 15, 2022.
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.