Globally Local to Begin Trading on TSXV; World’s First Vegan Fast-Food Company to Go Public
TORONTO, April 15, 2021 /CNW/ – April 15, 2021 – Globally Local Technologies Inc. (“the company”), the parent company of Globally Local, one of the world’s first vegan fast-food chains, announced it will begin publicly trading on the TSX Venture Exchange under the symbol GBLY tomorrow, April 16, 2021.
Globally Local is a technology company that creates, manufactures and distributes a food service product line of proprietary plant-based proteins and dairy alternatives to corporate-owned and franchised restaurant locations. As vegan fast-food concept pioneers, founders James and Vasiliki McInnes opened the first location in 2016 in London, Ontario, with a goal of being superior to animal-based fast food in taste, nutrition, and affordability. The company scaled quickly by opening a food manufacturing facility in 2018, allowing it to control the key links in its supply chain, keep menu prices competitive with conventional fast food, as well as engage customers to validate product development.
Globally Local restaurant locations operate as compact smart kitchens, which facilitate primarily takeout and delivery business. Their advanced restaurant design uses the most modern on-demand cooking technology for a consistent food experience, quick service, low costs and simplified employee training. With online ordering, self-checkout kiosks, cashless transactions, and an ideal setup for its delivery app partners, Globally Local is thriving during a global pandemic that has challenged many other businesses.
“Our team has spent five years developing an advanced fast-food restaurant concept and vertically integrated supply chain which, combined together, will revolutionize the fast-food industry,” said James McInnes, co-founder, CEO and one of the lead scientists at the company. “Our smart kitchens will soon be deploying proprietary automation technology that will not only enhance our efficiency but will also make us more affordable than traditional fast food, ultimately allowing us to create change through a better economic model.”
The company currently has one corporate location and one franchise location with six more corporate locations under development in Ontario, Canada. The company plans to open at least 20 locations across North America in the next twelve months.
Globally Local boasts early investors including musician Tony Kanal of the band No Doubt.
Rather than an IPO, Globally Local entered an agreement with Black Lion Capital Corp., a capital pool corporation listed on the TSXV to consolidate as Globally Local Technologies Inc. Those interested in details of this transaction may contact Globally Local investor relations at [email protected].
The TSX and its TSX Venture Exchange constitute the eighth largest stock market in the world based on market capitalization, and the third largest in North America. Interested investors in Canada may purchase shares of Globally Local by contacting their broker or placing an order via their electronic trading platform, and in the U.S. through reputable brokerage firms that allow purchase of Canadian stocks via their trading platforms.
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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 Toronto Stock 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 plans for growth in North America. 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.
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SOURCE Globally Local Technologies Inc.
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