VANCOUVER, BC, Dec. 20, 2021 /CNW/ - Freshlocal Solutions Inc.
(TSX: LOCL) (OTC: FLOCF) ("Freshlocal" or the "Company") is
pleased to announce it has secured an additional $800,000 investment from the Digital
Supercluster (the "Supercluster") to further enhance its FoodX
eGrocery Management Solution (eGMS), with a focus on ensuring safe
food delivery and reducing food waste. This investment is a
continuation of work previously done in partnership with leading
companies involved in the Supercluster such as Microsoft, Adaptech,
ETG Consulting, 1QBit, OpsGuru and Freshlocal's on-line grocery
provider – SPUD.ca.
In the early days of the COVID-19 pandemic, food security became
a critical issue with precarious workers, front line responders and
Canadians across the country experiencing food insecurity when
pre-pandemic reliable food supply chains were disrupted.
Working with the Supercluster, FoodX enhanced and scaled its eGMS
systems to support the safe provision of food to Canadian frontline
workers, an emerging essential service, during the pandemic. The
new Supercluster investment of $800,000 will support system improvements
designed to reduce inventory and labour costs, enhance system
throughput, and reduce food waste within the grocery business,
thereby further supporting the effective, efficient and reliable
delivery of food to those who need it most.
"As part of the Supercluster's commitment to continue to support
Canadians as we battle the pandemic, through this investment the
Supercluster is supporting FoodX's development of enhanced digital
solutions that will result in safe, cost-effective and sustainable
grocery services being available to all Canadians," said
Sue Paish, CEO of the Digital
Supercluster. "We are honored to support this ambitious endeavor
and excited to see the lasting benefits for Canadians as a result
of the work being led by FoodX."
"We are very excited to grow our partnership with the
Supercluster to address an issue as important as food security with
new thinking and new technologies," said Freshlocal's Chief
Executive Officer, Simon Cairns.
"Grocers are operating as an essential service while also embracing
the rise of eCommerce in the grocery business. Our view is that
minimizing food waste needs to remain a top priority, and our work
with the Supercluster can contribute viable solutions to this
global challenge."
About Digital Technology Supercluster
Ahead of the curve starts here. The Digital Technology
Supercluster is building a better Canada by growing Canadian businesses,
creating a digitally skilled workforce and positively impacting
lives across our Country. We accelerate the development and
adoption of digital technologies that keep Canadians healthy,
address climate change and drive economic productivity. Through a
powerful combination of co-investment, cross-sector collaboration,
IP creation and digital talent development, we unlock the potential
of Canadians to lead and succeed in the Digital world.
About Freshlocal Solutions Inc.
Freshlocal Solutions is a Vancouver-based company that is building a
leadership position in the provision of end-to-end grocery
e-commerce solutions. The Company operates two primary businesses,
FoodX and eGrocery, both of which support its corporate mission to
innovate food systems for people, planet and prosperity. Food-X
Technologies ("FoodX") is Freshlocal Solutions' scalable end-to-end
SaaS-based eGrocery Management Solution (eGMS) which is designed to
meet the needs of large and small grocery retailers while providing
profitable unit economics. The FoodX eGMS is the culmination of
over 20 years of experience in online grocery and the Company's
proven track record of delivering efficiently, sustainably and
profitably. The Company's consumer eGrocery business has expanded
into one of Canada's largest
online grocery companies, with a focus on delivering fresh, local,
organic produce and groceries, along with exceptional customer
experiences. Freshlocal Solutions serves the main urban markets in
Alberta and British Columbia through its brick and mortar
store locations operating under the Blush Lane and Be Fresh
banners, as well as through SPUD.ca which is the Company's
award-winning online eGrocery platform. Freshlocal's common shares
are listed on the Toronto Stock Exchange under the symbol "LOCL".
Please visit www.freshlocalsolutions.com.
Notice on Forward Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to the Supercluster and the receipt of
such funding.
Often, but not always, forward-looking statements or information
can be identified by the use of words such as "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions,
including, among other things, assumptions about general business
and economic conditions of the Company and the market in which it
operates. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions
made and the expectations represented by such statements or
information are reasonable, there can be no assurance that
forward-looking statements or information herein will prove to be
accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. These factors include, but are not
limited to: risks associated with the business of the Company;
business and economic conditions in the eGrocery industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to unanticipated
operational difficulties (including failure of technology or
processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); changes in general economic conditions or conditions in
the financial markets; changes in laws; risks related to the direct
and indirect impact of COVID-19 including, but not limited to, its
impact on general economic conditions; the ability to obtain
financing as required; and other risk factors as detailed from time
to time. The Company does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Freshlocal Solutions Inc.
