Organic Garage Announces the Commencement of Construction on Its Leaside Store
28 11월 2019 - 10:54PM
Business Wire
Organic Garage Ltd. (TSXV: OG) (“Organic Garage”
or the “Company”), an independent organic and natural foods
grocery chain, is pleased to announce that developer construction
has commenced on its long-awaited Leaside location. Once completed,
Organic Garage anticipates that it will take possession of the
facility to complete the store’s fit out phase by the middle of
next year. The store will be the Company’s 5th location.
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Rendering of Organic Garage's Leaside
location (Graphic: Business Wire)
Maintaining the aesthetic appeal of the Company’s most recently
opened two locations in the Junction and Liberty Village, Organic
Garage’s Leaside store will retain a historic quality and measure
approximately 12,000 square feet in size. Due to the delay in
construction of the project in which the store is to be situated,
Organic Garage has been able to obtain significant concessions from
the developer as compensation.
The Leaside neighbourhood ideally suits the Company’s mandate of
expanding its store footprint into high population density
locations in both established and growing markets within the
Greater Toronto Area. Leaside is located northeast of Toronto’s
downtown core and consists of over 229,000 households with an
average household income of over $139,000 per year within a 5km
radius according to the developer’s data.
“I am pleased that the development is finally under
construction,” commented Matt Lurie, CEO of Organic Garage. “This
location will be a great market for Organic Garage and we look
forward to getting the store finished and opened for our customers
who have been eagerly and patiently waiting. While the delays in
developing the new plaza have been beyond our control, we are
pleased with the concessions we have been able to negotiate and we
are excited about bringing our message of “Healthier Food for Less”
to the Leaside community.”
The Company remains focused on its goal of opening one to two
new stores per year as it aims to position itself as one of
Canada’s largest natural food grocers and establish the Organic
Garage brand through its stated mission of making healthy food
affordable and accessible.
About Organic Garage Ltd.
Organic Garage (TSX-V: OG) is one of Canada’s leading
independent organic grocers committed to offering its customers a
wide selection of healthy and natural products at everyday
affordable prices. The company’s stores are in prime retail
locations designed to give customers an inclusive, unique and
value-focused grocery shopping experience. Founded in 2005 by a
fourth-generation grocer, Organic Garage is headquartered in
Toronto and operates a highly efficient supply chain through its
centralized distribution centre. The company is focused on
continuing to expand its retail footprint within the Greater
Toronto Area. For more information please visit the Organic Garage
website at www.organicgarage.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
NEWS RELEASE.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements
presented for the purpose of assisting the reader to understand
management's expectations regarding the Company's strategic
priorities, objectives and plans. All statements other than
statements of present or historical fact are forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "expects", "intends", "may",
"plans", "will", and other similar expressions or the negative of
these terms.
These statements include those related to the operations of the
Company, which may be impacted by general business, economic,
competitive, political and social uncertainties as they relate to
the grocery industry.
By its nature, forward-looking information requires the Company
to make assumptions and is subject to inherent risks, uncertainties
and other factors which may cause actual results to differ
materially from forward-looking statements made. Forward-looking
statements are not a guarantee of future performance. Any
forward-looking statements are made as of the date hereof and,
except as required by law, neither Organic Garage assumes no
obligation to publicly update or revise such statements to reflect
new information, subsequent or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191128005397/en/
Bill Mitoulas T: (416) 479-9547 E:
investor_relations@organicgarage.com W: www.organicgarage.com
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