Colabor Group Corporate Update

BOUCHERVILLE, Quebec, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Corporation”) today announces that Mr. Pierre Gagné has been appointed Interim CEO in addition to his role as Chief Financial Officer, replacing Mr. Bob Briscoe who stepped into that role to fill an immediate need.

“We thank Bob Briscoe for his input during this initial transition. Bob will return to his role as director of the Corporation but will continue to be available to provide support and assistance to Pierre Gagné during this interim period. We are confident that Pierre, together with the management team, will pursue the strategic agenda of Colabor, indicated Mr. Warren White, Chairman of the Board.”

The Board of Directors of Colabor has retained the services of an executive search firm to assist with the process of hiring the next President and Chief Executive Officer of the Corporation.

Forward-Looking Statements

This news release contains certain statements that may be deemed to be forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance, business operations and future events. Such statements are subject to risks, uncertainties and assumptions and the analysis of the debt structure and available alternatives, and risks mentioned in the Corporation’s annual information form found under its profile on SEDAR (www.sedar.com), such as the risk of dilution for existing shareholders. As such, these statements are not guarantees of future performance, and actual results, realities or events may differ materially. Except as required by law, the Corporation assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions or other factors change.

About Colabor

Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or “HRI” in Quebec, Ontario and in the Atlantic provinces, as well as the retail market (grocery stores and convenience stores). Within its two operating segments, Colabor offers specialty food products such as meat, fresh fish and seafood, as well as food and related products through its Broadline activities.

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