Coho Collective Kitchens Announces Extension of Outside Date to Acquire Purebread

Vancouver, British Columbia--(Newsfile Corp. - August 9, 2023) - Coho Collective Kitchens Inc. (TSXV: COHO) ("Coho" or the "Company") is pleased to announced that, further to the Company's announcements on May 29, 2023 and July 31, 2023, the Company and its counterparties have agreed to extend the outside date of the definitive purchase agreement dated May 28, 2023 with Twin Lakes Investments Inc., Paula Lamming, Mark Lamming, Jack Lamming, Purebread. Bakery Inc. ("Purebread"), and Coho Acquisition Corp. for the purchase of Purebread (the "Acquisition"), from August 9, 2023 to August 31, 2023. This extension aims to allow more time for necessary documentation, financing and closing procedures.

According to Andrew Barnes, CEO, "Purebread's business continues to strengthen, adding value to its customers and investors alike."

Since the acquisition announcement, Purebread has successfully opened a new location at the Vancouver International Airport. Barnes' statement reflects his confidence in Purebread's ongoing growth and its positive impact on stakeholders.

About Coho Collective Kitchens Inc.

Coho is a growing player in commercial real estate and food technology, operating fast casual restaurants and shared-kitchen facilities. As Canada's largest shared-kitchen company, Coho is expanding its presence and services. The combined efforts of Coho and Purebread strive to positively impact the communities in which it operates. Learn more about Coho's growth and innovations in the food economy at https://www.cohocollectivekitchens.com and https://www.purebread.ca.

Contacts

Andrew Barnes, Chief Executive Officer
andrew@cohocommissary.com
(778) 877-6513

Investor Relations
invest@cohocommissary.com
(604) 243-7355

Forward-Looking Information

This press release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation, the Company's ability to complete the Acquisition of Purebread; and expected value of Purebread's business, ongoing growth and impact on stakeholders.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.

Coho's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Coho's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Acquisition, including: that Coho will not be able to complete the Acquisition within the anticipated timeline, or at all; that the actual impact of the Acquisition on Coho's business and growth strategy will not be as currently anticipated; that Coho's other assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions; that the parties may not obtain all required consents or approvals for the Acquisition (including the approval of the TSXV); risks inherent in the ghost-kitchen, retail bakery, or coffeehouse sectors in general; that future results may vary from historical results; and competition in the markets where Coho operates. Except as required by securities law, Coho does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176709