MISSISSAUGA, ON, Aug. 5, 2021 /CNW/ - Sol Cuisine Ltd. ("Sol
Cuisine" or the "Company") (TSXV: VEG) a growth-oriented North
American plant-based protein leader, today announced that it has
appointed experienced financial leader Adam
Kozak, as Chief Financial Officer of the Company. Mr. Kozak
replaces Sol Cuisine CFO David
McLaren and will assume the role on August 9, 2021. Mr. McLaren will continue to
provide support through a transitional period.
John Flanagan, CEO of Sol
Cuisine commented, "I would like to take this opportunity
to personally welcome Adam Kozak to
Sol Cuisine. Adam comes to the Company with a unique combination of
broad financial experience at Canada's largest grocer, as well as a track
record of astute financial leadership through periods of rapid
expansion, which will be invaluable as Sol Cuisine executes on
several important growth initiatives over the next 12 months. I
would also like to thank David for his significant contributions
through Sol Cuisine's public listing. I wish him all the best as he
transitions back to a private company role."
Outgoing CFO David McLaren added,
"It was a pleasure working with John and the team through Sol
Cuisine's public listing in late May. With the Company now public,
it was time for me to transition the role. Adam and I have been
working side by side to prepare for this transition and I am
confident that his experience will prove to be invaluable as the
Company scales its operations over the next several years."
Incoming CFO Adam Kozak
commented, "I am assuming the CFO role at a very exciting point in
time for Sol Cuisine. Having been involved in the grocery retail
business in Canada for over 10
years, I am intimately familiar with the growth opportunity
presented by plant-based protein, and I can't think of another team
that is better positioned to capture this opportunity and translate
it into returns for its shareholders. I look forward to working
both with the team internally as we build Sol Cuisine into a solid
plant-based protein leader in North
America, as well as with our shareholders to continue
building the business."
Adam Kozak
Adam Kozak has over 20 years of
experience in Finance, M&A Integration, and Investor Relations
in both established and emerging industries. Most recently he held
the role of CFO for a privately held group of direct store
delivery, warehousing, and logistics companies.
While holding the role of CFO at TerrAscend Corp. Adam led the
Company through several of its key milestones, including the
successful completion of TerrAscend's capital reorganization and
structuring and executing the Company's milestone M&A
transactions that laid the foundation for entering into the U.S.
market becoming a leading North American operator.
Prior to joining TerrAscend Adam spent over 10 years at Loblaw
Companies Limited where he held progressive roles in Finance,
Investor Relations, M&A Integration, Loyalty and Consumer
Insights.
Adam holds a Bachelor of Accounting with Honours from
Brock University and is a Chartered
Professional Accountant with C.A. specialization.
For more details, visit Sol Cuisine's IR website at:
investors.solcuisine.com or contact the IR team at
investors@solcuisine.com.
About Sol Cuisine Ltd.
Sol Cuisine is the publicly traded parent company of Sol Cuisine
Inc. following the completion of its "qualifying transaction" on
May 19, 2021. Sol Cuisine is a
fast-growing producer of branded, consumer-preferred plant-based
protein offerings across key center-of-plate and appetizer
categories. The Company's products are offered through an
established omni-channel distribution platform in Canada and the U.S. and are available in over
11,000 stores and more than 41,000 unique points of distribution.
Over a history of 20+ years, Sol Cuisine has consistently
demonstrated an ability to innovate and delight consumers in
Canada and the U.S., while
remaining true to its commitment to producing great tasting
products that are nutritionally superior both to meat-based
offerings and to competitive plant-based products. This commitment
has resulted in several Canadian product wins, including the #1
frozen plant-based burger in Canada, the #1 consumer-preferred chicken
alternative and the #1 quality roast product as determined by Whole
Foods Market. The Company's taste and nutritional superiority has
also resulted in private label contracts with some of the most
recognized natural brands in North
America. These products are all produced at Sol Cuisine's
two state of the art facilities, totaling 35,000 square foot
facility in Mississauga, Ontario,
capable of supporting up to 10 million kilograms of volume per
annum.
For more details on Sol Cuisine's consumer brands:
Website: www.solcuisine.com
Instagram: @solcuisine
Facebook: @solcuisine
Twitter: @solcuisine
LinkedIn: @solcuisine
Forward Looking Statements
This press release includes forward-looking information within
the meaning of Canadian securities laws regarding the Company and
its business. Often but not always, forward-looking information can
be identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of each entity, and are based on assumptions and subject to risks
and uncertainties. Although the management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this press release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the company, including risks regarding the
size of the industry, the growth of the market for the Company's
products, the rate and quantity of production at the Company's
facilities, market conditions, economic factors, management's
ability to manage and to operate the business of the Company and
the equity markets generally. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
The TSX Venture Exchange has not reviewed, approved, or
disapproved the content of this news release.
John Flanagan
Chief
Executive Officer
905-502-8500
Forward Looking Statements
This press release includes forward-looking information within
the meaning of Canadian securities laws regarding the Company and
its business. Often but not always, forward-looking information can
be identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of each entity, and are based on assumptions and subject to risks
and uncertainties. Although the management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this press release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the company, including , isks regarding the
ease of consumers to find the Company's products locally or to
purchase products online, the Company's conversion rate, the
ability of the Company to map consumer interest, track search
results and match the launch of new or additional SKUs and
continued revenue growth,. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
SOURCE Sol Cuisine Ltd.