TORONTO, May 6, 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,
announced today it is on track to open five new Ontario restaurant locations in the Summer
2021 timeframe.
These new locations are in development in Hamilton, Downtown
Waterloo, Vaughan, Toronto
East, and South London. When
completed, these will bring Globally Local to a total of seven
restaurants, six corporately owned and one franchised.
All restaurant locations will operate as compact smart kitchens
with on-demand cooking technology to facilitate rapid service,
takeout and delivery, low costs, and simplified employee
training.
"The restaurants in development are in communities that have
welcomed us at events and where we feel there is demand for
healthier, more sustainable, and more humane food choices," said
James McInnes, Globally Local
co-founder and CEO. "While we work strategically to build a global
brand, we continue to establish the best local base of support in
the Ontario region."
In addition, subject to the policies of the TSX Venture Exchange
and the terms and conditions of the Company's stock option plan,
certain consultants of the Company have been granted 150,000
options to purchase common shares of the Company ("Options") as
part consideration for their services. The Options will be
exercisable at $1.55 per share for a
term of two years. The Options will vest quarterly in equal
tranches over a one-year period on each of the three, six, nine
and twelve month anniversaries of the date of grant. 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 relating to but not limited to the the opening plans and
dates disclosed herein. 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.