Sol Cuisine Announces Appointment of Experienced Financial Leader Adam Kozak as CFO
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 [email protected].
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.
Jonathan Ross, Sol Cuisine Investor Relations, [email protected], 416-283-0178; Kieran Lawler, Sol Cuisine Public Relations, [email protected], 416-303-0799
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