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GlobeNewswireProceeds to be Used to Introduce Same-Day Shipment in Extra Cities and Expand Innovation, Automation and Robotics PlatformsNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. MONTREAL, Qubec, Feb. 03, 2021 (WORLD NEWSWIRE)– Goodfood Market Corp. (“Goodfood” or the “Company”) (TSX: FOOD), a leading online grocery company in Canada, announced today that it has gotten in into a contract with a distribute of underwriters co-led by Desjardins Capital Markets and RBC Dominion Securities Inc.
50 per Common Share (the “Offering Price”) for aggregate gross earnings to Goodfood of roughly $60. 0 million (the “Offering”). The Underwriters have likewise been given an option (the “Over-Allotment Option”), exercisable in entire or in part and from time to time, at any time till one month after the closing of the Offering, to purchase from the Business up to 720,000 extra Typical Shares at the Offering Price for extra gross profits of approximately roughly $9.
If the Over-Allotment Option is exercised by the Underwriters in complete, aggregate gross profits of the Offering (including the Over-Allotment Alternative) will be approximately $69. 0 million. The Typical Shares will be used by way of a short form prospectus to be submitted in all of the provinces of Canada.
“Increasing delivery speed and versatility are crucial elements of Goodfood’s tactical strategy. On the back of a successful launch of Goodfood WOW, our same-day delivery service, in Montreal and the Greater Toronto Location, we will now want to develop on that success in Vancouver, Calgary, Ottawa and Quebec City as well as expand same-day accessibility in both Montreal and Toronto,” said Jonathan Ferrari, Chief Executive Officer of Goodfood.
Ferrari. The Offering is anticipated to close on or about February 24, 2021 and undergoes particular conditions including, but not restricted to, the receipt of all needed business and regulative approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The securities being used have not been, nor will they be, registered under the United States Securities Act of 1933, as modified, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S.