General Assembly Pizza Announces Appointment of New Board Member, Karen Zuccala

TORONTO–(BUSINESS WIRE)–General Assembly Holdings Limited (the “Company” or “GA Pizza”) (TSXV: GA), a fast-casual, Toronto pizza restaurant turned omnichannel consumer packaged goods (“CPG”) brand, today announced that Karen Zuccala has been appointed to the Company’s Board of Directors and has also been appointed as Chair of the Nominating and Corporate Governance Committee (the “Committee”), effective July 20, 2021. Ms. Zuccala’s appointment as Chair of the Committee succeeds Nima Besharat’s role as Chair of the Committee.

Ms. Zuccala has 20+ years of global business experience working with some of the world’s most recognized companies in the consumer/packaged goods space and brings a breadth of knowledge in retail brand strategy to the Company’s Board of Directors. Having lived and held executive positions across Europe and Canada, Ms. Zuccala has built a strong reputation in brand and digital marketing, strategic business planning, and eCommerce. Her passion for technology and innovation has fueled market disruption for some of the world’s most iconic brands.

“We are proud and excited to welcome Karen to the team. Karen brings a wealth of retail and eCommerce experience and will be a tremendous asset as we move forward and expand our wholesale channel and diversify our product offering,” stated Ali Khan Lalani, Founder and Chief Executive Officer of GA Pizza.

No stranger to retail, Ms. Zuccala began her career at adidas, where she launched the brand’s first national brand campaign, Impossible is Nothing, and product innovation, ClimaCool, that led to double-digit sell-through. Ms. Zuccala later moved to Germany to work for adidas’ Global Headquarters in Herzogenaurach. She managed Global marketing campaigns for running and training, working with some of the world’s most recognizable athletes, including David Beckham, Allyson Felix and Haile Gebrselassie. After working in fashion in Italy and landing back in Canada at creative agency, Anomaly, Ms. Zuccala returned to the world of sport, working at Nike as Brand Marketing Director, where she managed a cross-functional team in Chicago and Toronto. She launched Nike Canada’s first eCommerce platform, which quickly became the second-largest growth market amongst 27 countries. Ms. Zuccala led all brand experiences, including Toronto’s first-ever All-Star Weekend and countless digital activations, including a Raptors DeMar DeRozan Sticker Pack, Air Max Month, Nike Women’s Toronto Weekend, Women’s World Cup and the Just Do It Basketball Headquarters in Chicago.

The Company also announces the issuance to Ms. Zuccala of 100,000 stock options (the “Options”) to acquire that same number of Class A Common shares in the capital of the Company at an exercise price of C$1.73 per share with 25% of such Options being exercisable on the first anniversary of the grant date, and 9.375% on a quarterly basis following the first anniversary of the grant date.

Ms. Zuccala’s appointment to the Company’s Board of Directors and the issuance of Options to Ms. Zuccala are each subject to TSX Venture Exchange approval.

About GA Pizza

GA Pizza began its life as a fast-casual pizza restaurant in the heart of Toronto. Three years later, we also offer a freezer-to-table consumer packaged goods line, and a groundbreaking direct-to-consumer platform: a pizza subscription (gapizzaclub.com) and a gifting service (give.gapizza.com). Our ambition? Make delicious pizzas available to everyone, everywhere. We’re always working to take pizza to new heights—from showing the world that better pizza is possible, to finding new spaces and places to deliver unrivaled pizza experiences. Find us at the grocery store or visit gapizza.com.

GA Pizza media assets available for download.

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

Forward-Looking Information

This press release contains statements which constitute “forward-looking information” or “forward-looking statements” (together “forward-looking information”) within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding anticipated increases to the Company’s production capacity at the master facility and the Company’s growth strategy.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among key factors and risks that could cause actual results to differ materially from those projected in the forward-looking information may include, without limitation, the following: there being no market for the securities of the Company; the Company’s limited operating history; global economic risk; COVID-19’s impact on the Company; the general economic environment; cybersecurity risks; financial projections may prove materially inaccurate or incorrect; the Company may experience difficulties to forecast sales; general competition in the industry from other companies; management of growth-related risks; reliance on management; risks relating to insurance; changes in food and supply costs could adversely affect profitability and ultimately our results of operations; our business could be adversely affected by increased labour costs or difficulties in finding suitable employees; changes in customer tastes and preferences, spending patterns and demographic trends could cause sales to decline; changes in nutrition and food regulation; failure to establish our master production facility; failure to expand production capacity; disruption at our facilities; government regulation of the food industry creating risks and challenges; risk associated with food safety and consumer health; changes in internet and social media search algorithms; risks associated with leasing commercial and retail space; third party reliance for shipping and payment processing; environmental laws; we may not persuade customers of the benefits of paying our prices for higher-quality food; our marketing and advertising strategies may not be successful, which could adversely impact our business; requirements for further financing; the Company may prioritize customer growth and engagement and the customer experience over short-term financial results. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Contacts

Media
Tat Read, Communications Director, GA Pizza

[email protected]

Investor Relations
Glen Akselrod, Bristol Capital

[email protected]

Ali Khan Lalani, Chief Executive Officer & Founder

(416) 583-5571