MONTREAL, Aug. 14, 2026 /CNW/ -- Goodfood Market Corp. ("Goodfood" or the "Company") (TSX: FOOD), a leading Canadian online meal solutions company, announced today that the Superior Court of Qu(EQNX::eacute)bec (Commercial Division) (the "Court") has granted an order approving a sale and investment solicitation process (the "SISP") in connection with the Company's proceedings under the Companies' Creditors Arrangement Act (the "CCAA").

The SISP will be conducted by the Company's board of directors together with Raymond Chabot Inc., in its capacity as Court-appointed Monitor (the "Monitor"), in accordance with the procedures approved by the Court.

The SISP is intended to provide interested parties with an opportunity to submit proposals for a purchase of, or investment in, the Company or its business and/or its assets with a view to identifying a transaction that maximizes value for the benefit of the Company and its stakeholders. No transaction has been selected or approved at this stage.

The SISP contemplates two separate bidding processes. With respect to the Company's assets other than the shares it holds in 16423132 Canada Inc., the wholly-owned subsidiary of the Company that holds approximately 80% of the shares of Genuine Tea Inc., (the "GF Business"), the SISP provides for a single-phase bidding process under which interested parties must submit binding offers no later than September 28, 2026. With respect to the shares held by the Company in 16423132 Canada Inc. (the "164 Shares"), the SISP provides for a two-phase bidding process under which interested parties must submit non-binding letters of intent no later than September 28, 2026, followed by binding offers no later than on October 30, 2026. If one or more successful bids are selected under either process, the Company expects to seek Court approval of the resulting transaction or transactions shortly thereafter, with closing to occur no later than November 6, 2026 for the GF Business and December 7, 2026 for the 164 Shares, subject in each case to the terms of the SISP and any applicable Court approval.

Any party interested in participating in the SISP should contact the Monitor for additional information regarding the process:

Raymond Chabot Inc., in its capacity as Court-appointed Monitor of Goodfood Market Corp.
600, rue De La Gaucheti(EQNX::egrave)re Ouest
Bureau 2000
Montr(EQNX::eacute)al, QC H3B 4L8
Attn: Gautier P(EQNX::eacute)chadre
Email: pechadre.gautier@rcgt.com

"The Court's approval of the SISP represents a key step in our financial restructuring," said Donald Olds, Lead Independent Director of Goodfood. "As the process moves forward, we remain focused on operating the business, serving our customers and continuing to implement our operational turnaround plan."

Goodfood continues to operate and serve customers across Canada. Customers can continue to place orders, and the Company expects to continue fulfilling customer orders in the ordinary course throughout the restructuring process.

The Company also expects to continue working with its suppliers and business partners in the ordinary course and remains focused on maintaining strong commercial relationships. For goods and services provided after the CCAA filing date, the Company anticipates that its obligations to suppliers will continue to be addressed in accordance with existing commercial arrangements.

Goodfood's Board of Directors and management team remain in place, and management continues to be responsible for the day-to-day operation of the business. The SISP forms part of the Company's broader financial restructuring and does not change management's focus on operating the business, serving customers and implementing the Company's turnaround plan.

Court materials and other information relating to the Company's CCAA proceedings, including the order approving the SISP and the SISP procedures, are available on the Monitor's website at https://www.raymondchabot.com/en/business/public-records/goodfood.

The Company will provide further updates as material developments occur.

ABOUT GOODFOOD

Goodfood (TSX: FOOD) is Canada's leading digitally native meal solutions brand, delivering fresh meals that make it easy for customers nationwide to enjoy delicious, sustainable meals at home. Goodfood connects partner farms and suppliers directly to customers' kitchens, reducing food waste and retail overhead. Headquartered in Montreal, Qu(EQNX::eacute)bec, with production facilities in Qu(EQNX::eacute)bec and Alberta, Goodfood is building Canada's most loved millennial food brand.(EQNX::nobreakspace)

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, assumptions, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", as well as the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, statements regarding the Company's ability to continue as a going concern, that management's attention may be diverted from ongoing operations as a result of the CCAA process, that additional financing or re-financing, a strategic change, transaction or any outcome will result from or be consummated or implemented as a result of the CCAA process and that any financing, re-financing or transaction resulting from the CCAA process, if any, will ultimately result in stabilizing the Company's financial position and debt levels for the benefit of all of its stakeholders, and as to value of the Company's securities. Forward-looking information is provided for the purposes of assisting the reader in understanding the Company and its business, operations, prospects and risks at a point in time in the context of historical trends, current condition and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes.

Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the potential inability of the Company to continue as a going concern and risks and uncertainties related to the CCAA process, and the risk factors discussed under "Risk Factors" in the Company's Annual Information Form for the 52 weeks ended September 6, 2025, available on SEDAR+ at www.sedarplus.ca and under the "Events and Presentations" section of our website at www.makegoodfood.ca/en/investors. This is not an exhaustive list of risks that may affect the Company's forward-looking statements. Other risks not presently known to the Company or that the Company believes are not significant could also cause actual results to differ materially from those expressed in its forward-looking statements. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward- looking information concerning the availability of capital resources, business performance, market conditions, as well as customer demand and, in connection with the CCAA process, our ability to obtain necessary Court orders to complete the restructuring.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward- looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

SOURCE Goodfood

View original content: http://www.newswire.ca/en/releases/archive/August2026/14/c5015.html