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Goodfood Announces Successful Launch of Smoothie Line, Surpassing $10 Million in Annualized Gross Merchandise Sales

MONTRÉAL, June 10, 2019 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (the “Company” or “Goodfood”) (FOOD.TO) announced that its first breakfast meal solution, ready-to-blend superfood smoothies, is now available across Canada. Goodfood’s extensive preliminary testing amongst its current member base has yielded promising results, with the Breakfast line’s first product surpassing a gross merchandise sales1 run-rate of $10 million.

With a dozen finely crafted pre-portioned flavours such as the Açai Bellini, the Macadamia Sunrise or the Cold Brew Crisp, Goodfood Smoothies are prepared with high quality farm frozen ingredients and powerful superfoods for a unique and delicious breakfast ready to-go in 30 seconds. Delivered straight to subscribers’ doorsteps, Goodfood’s ready-to-blend smoothies contain delicious chunks of fruit and wholesome untransformed ingredients. Goodfood Smoothies are a standalone product that can be ordered independently or alongside a Goodfood ready to cook dinner box (available at makegoodfood.ca/smoothies) starting at only $4.99 per smoothie.

“Goodfood members tell us breakfast is their most important meal of the day, yet over 40% of Canadians admit to skipping breakfast. With the updated Canadian Food Guide standards, we see an opportunity to marry the guideline of starting your day right by consuming whole fruits and vegetables with the convenience of being able to set your alarm clock 10 minutes later in the morning.” said Greg Perowne, Head of Breakfast at Goodfood.

The Company’s continued success and leading position in the ready-to-cook dinner category provide a powerful platform to address different parts of the day with new meal solutions. “We are uniquely positioned to provide an elevated breakfast product to Canadians on the strength of our culinary expertise and operational infrastructure. Existing members will find even more value on the growing Goodfood platform, while this new product category also represents an important acquisition channel to bring thousands of new Canadians into the Goodfood fold.” added Jonathan Ferrari, Chief Executive Officer of Goodfood.

About Goodfood Market Corp.
Goodfood Market Corp. is a leading home meal solutions company in Canada that make it easy for subscribers to prepare delicious meals at home every week. Goodfood’s objective is to take the hassle out of cooking, leaving subscribers with the fun part - cooking, sharing with family and eating. Subscribers select their favorite recipes from a variety of original options online. The Company prepares a personalized box of fresh and/or farm frozen ingredients and delivers it to the subscriber's doorstep with easy step-by-step instructions. The Company has its main production facility and administrative offices based in Montreal, Quebec, and a second production facility in Calgary, Alberta. Goodfood had 189,000 active subscribers as of May 31, 2019. www.makegoodfood.ca

For further information:
   
Investors   Media
Philippe Adam, Chief Financial Officer  Ashley Rosenburger, Rose PR
(855) 515-5191  (514) 927-8347 
IR@makegoodfood.ca  ashley@rosepr.ca

1 Gross merchandise sales measures the retail value of goods sold by the Company before taking into account incentives and credits.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ff93d051-495e-468e-9454-0e83f86cb49c

https://www.globenewswire.com/NewsRoom/AttachmentNg/f0ff2b13-05f9-4127-9715-88c5f7c3bb7b