Mr. Donald Olds reports

GOODFOOD OBTAINS INITIAL ORDER UNDER THE CCAA

The Superior Court of Quebec (commercial division) has granted to Goodfood Market Corp. an initial order under the Companies' Creditors Arrangement Act.

The initial order provides the company with the time and flexibility needed to advance its financial restructuring while continuing to operate its business, serve customers and implement its turnaround plan.

The court has appointed Raymond Chabot Inc. as monitor in the CCAA proceedings. RCI will provide independent oversight of the restructuring process and assist the court and stakeholders throughout the proceedings.

RCI intends to recommend at the comeback hearing that the court approve a formal sale and investment solicitation process. If approved, the SISP would provide interested parties with an opportunity to submit proposals for a sale of, or investment in, the company or its business with a view to identifying the transaction that maximizes value for the benefit of the company and its stakeholders. No transaction has been selected or approved at this stage.

"The initial order provides the stability and flexibility needed to continue implementing our turnaround plan and advance our financial restructuring," said Donald Olds, lead independent director. "We remain focused on executing our restructuring process while continuing to serve our customers."

Customers can continue to place orders, and the company expects to fulfill customer orders in the ordinary course throughout the restructuring process.

Goodfood employs approximately 230 people across Canada, with operations in Montreal, Calgary and Mississauga. The company does not expect any job losses as a direct result of the CCAA proceedings.

The company also expects to continue working with suppliers and business partners in the ordinary course, and anticipates that postfiling obligations to suppliers for goods and services will continue to be addressed in the normal course.

Trading in the company's securities on the Toronto Stock Exchange has been halted as of today. The TSX has indicated that it will place the company under a delisting review under the expedited review process. Trading in the company's securities is expected to remain halted pending completion of the TSX's review of the company's continued listing eligibility.

Further news releases will be provided during the CCAA proceedings as required by law or otherwise as may be determined necessary by the company or the court. Copies of the initial order, the monitor's reports and other court documents relating to the CCAA proceedings are available on the monitor's website. Additional documents will be posted as they become available.

About Goodfood Market Corp.

Goodfood is Canada's leading digitally native meal solution 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, Que., with production facilities in Quebec and Alberta, Goodfood is building Canada's most loved millennial food brand.

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