TORONTO, June 1, 2021 /CNW/ - Globally Local Technologies
Inc., (the "Company")(TSXV: GBLY) the parent company of Globally
Local, one of the world's first vegan fast-food chains, is pleased
to announce the following corporate updates.
The company had record gross sales in the amount of $75,572 for the month of April, 2021, unaudited
at their 492 College St., Toronto
location. The financial results represent the strongest
monthly gross sales figures since the location opened in
October 2019.
The Company is also pleased to announce the appointment of
Ted Sehl to the position of Chief
Financial Officer. Mr. Sehl's successful career in finance
includes positions at McDonald's Restaurants of Canada where he was Director of Finance for 11
years and W.C. Wood Corporation, a leading manufacturer of freezers
and refrigerated appliances where he served as Senior VP of Finance
for almost 12 years. A graduate of York
University in Toronto, Mr.
Sehl holds an MBA and is a Chartered Accountant.
The Company is commencing a search for a new member of the Board
to transition into Mr. Sehl's Board position.
The Company wishes to extend its appreciation to Mr.
Carlo Rigillo, the former CFO, for
his insight, commitment and skill during the past eight months
which included the successful listing of the Company on the TSX
Venture Exchange. Due to other commitments of Mr. Rigillo,
the CFO change was implemented in order to have a full-time
dedicated CFO.
In addition, Eoin Craigie has
been appointed VP Information, Systems & Technology. Mr.
Craigie will be leading the information, systems, and technology
initiative at the Company. Mr. Craigie previously worked for
more than 14 years at a leading financial technology firm. He has
been involved in the design and implementation of sophisticated
software systems for latency-sensitive and technology-driven
trading. He worked in both the USA
and Canada, and his most recent
role in Montreal was Technical
Director where he oversaw all technology for a group of more than
75 software developers, traders, and trading support
specialists.
"We continue to build a world-class management team as we enter
our next phase of rapid growth at Globally Local," said CEO
James McInnes. "The knowledge
and experience that both Ted Sehl
and Eoin Craigie bring to our
organization will continue to strengthen our position as an
industry-leading plant-based food technology company."
In connection with these appointments, certain officers have
been granted 481,000 stock options with an exercise price of
$1.22 per share. The options
vest 1 /3 on each of the 12, 24 and 36 month anniversaries of
grant.
The Company has determined that exemptions from the various
requirements of TSX Venture Exchange Policy 5.9 are available for
the grant of these options. The options are subject to TSX
Venture Exchange acceptance.
About Globally Local Technologies Inc.
Globally Local is a plant-based food technology company that
manufactures and distributes industry-leading plant-based protein
and dairy alternatives using locally sourced and sustainable
ingredients. The company distributes its products through a
proprietary food service line to company owned and franchised
fast-food restaurant locations. Globally Local restaurant locations
operate as smart kitchens, which use state-of-the art cooking
technology and automation solutions to deliver a delicious food
experience to customers craving healthier and more sustainable fast
food. With small store footprints optimized for delivery and
takeout, advanced cooking technology, competitive pricing, a
vertically integrated supply chain along with healthier
ingredients, Globally Local is revolutionizing the fast-food
industry. The Company currently operates a manufacturing facility
and two restaurant locations in Canada, with plans to open 20 additional
restaurant locations across North
America in the next 12 months. The Company is traded on the
TSX Venture Exchange under the symbol GBLY. For more information
visit https://globallylocal.ca.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
This news release contains forward-looking statements
relating to the future operations of the company and other
statements that are not historical facts. Forward-looking
statements are often identified by terms such as "plans", "will",
"may", "should", "anticipate", "expects" and similar expressions.
Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are
beyond the control of the company.
Specifically, this press release contains forward-looking
statements. Such forward-looking statements of information are
based on a number of assumptions which may prove to be
incorrect.
Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will update or
revise publicly any of the included forward-looking statements as
expressly required by Canadian securities law.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many
of which are beyond the control of the Company. The reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are
made as of the date of this news release and the Company will
update or revise publicly any of the included forward-looking
statements only as expressly required by Canadian securities
law.
SOURCE Globally Local Technologies Inc.