Company’s expanded online reach and ample cash
position will support FY 2022 growth initiatives
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF, FRA: 9CW1),
one of Canada’s leading independent organic grocers, announced that
it has signed an exclusive partnership agreement with Instacart,
North America’s largest online delivery platform, for the online
ordering and delivery of groceries from all Organic Garage retail
locations. The agreement significantly increases the Company’s
online delivery service area, amplifying an online sales strategy
that was implemented in January 2020, and has shown consistent
growth since its inception.
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the full release here:
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Comparison of Organic Garage's online
delivery service areas.(Graphic: Business Wire)
As part of the agreement with Instacart, Organic Garage has
extended its delivery range and increased its online delivery
availability to over 2.11 million households in the Ontario market.
This includes delivery to new markets that were previously not
available for delivery from Organic Garage including Mississauga,
Milton, Brampton, Newmarket, Scarborough, and Pickering, to name a
few. Under the data sharing agreement, prices on the Instacart
platform will reflect Organic Garage’s regularly priced on-shelf
and flyer merchandise.
In January 2020, the Company expanded its offerings to include,
through partnership, online ordering and deliveries from all
Organic Garage locations with the intent of enhancing its
relationship with existing customers and at the same time open up
access to segments of shoppers that the Company could not
previously reach.
Matt Lurie, CEO of Organic Garage commented, “This agreement
with Instacart will significantly increase the potential customer
base of Organic Garage. Extending our delivery range by partnering
with North America’s largest online grocery platform further
evolves our e-commerce business, providing additional safe shopping
options for our existing customers in addition to finding
innovative ways of increasing brand awareness and growing our
customer base going forward.”
The Company believes that the data sharing agreement will
provide additional benefits as a complementary research tool to
those used in its current site selection strategy. Typical
evaluation of new sites consists of standard demographic statistics
like population density and average income but the ability to use
enhanced data in a Company-specific context could be used to
research expansion opportunities in an effective and targeted
manner.
Organic Garage reported a sizable increase to its year-end cash
position, which grew to $1.6 million at fiscal 2021 year-end from
the $0.2 million reported the year prior. That cash position was
further solidified with additional warrants and options exercised
subsequent to the fiscal 2021 year-end, and now stands at over $2.4
million as of June 4th, providing the Company with ample funds to
execute on its stated growth and expansion strategies heading into
the 2022 fiscal year.
About Organic Garage Ltd.
Organic Garage (TSXV: OG, OTCQX: OGGFF, FRA: 9CW1) is one of
Canada’s leading independent organic grocers and is committed to
offering its customers a wide selection of healthy and natural
products at everyday affordable prices. The Company’s stores are in
prime retail locations designed to give customers an inclusive,
unique and value-focused grocery shopping experience. Founded in
2005 by a fourth-generation grocer, Organic Garage is headquartered
in Toronto. The Company is focused on continuing to expand its
retail footprint within the Greater Toronto Area. For more
information please visit the Organic Garage website at
www.organicgarage.com
About Instacart
Instacart is the leading online grocery platform in North
America. Instacart shoppers offer same-day delivery and pickup
services to bring fresh groceries and everyday essentials to busy
people and families across the U.S. and Canada. Instacart has
partnered with more than 600 beloved national, regional and local
retailers, including unique brand names, to deliver from more than
45,000 stores across more than 5,500 cities in North America.
Instacart’s delivery service is available to over 85% of U.S.
households and 70% of Canadian households. The company's
cutting-edge enterprise technology also powers the ecommerce
platforms of some of the world's biggest retail players, supporting
their white-label websites, applications and delivery solutions.
Instacart offers an Instacart Express membership that includes
reduced service fees and unlimited free delivery on orders over
$35. For more information, visit www.instacart.com.
For anyone interested in becoming an Instacart shopper, visit
https://shoppers.instacart.com/.
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.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements
and forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
Canadian securities laws. All statements other than statements of
present or historical fact are forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "anticipate", "achieve", "could",
"believe", "plan", "intend", "objective", "continuous", "ongoing",
"estimate", "outlook", "expect", "may", "will", "project", "should"
or similar words, including negatives thereof, suggesting future
outcomes.
Forward looking statements are subject to both known and unknown
risks, uncertainties and other factors, many of which are beyond
the control of Organic Garage, that may cause the actual results,
level of activity, performance or achievements of Organic Garage to
be materially different from those expressed or implied by such
forward looking statements. Although Organic Garage has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future
performance and involve a number of risks and uncertainties, some
of which are described herein. Such forward-looking statements
necessarily involve known and unknown risks and uncertainties,
which may cause Organic Garage's actual performance and results to
differ materially from any projections of future performance or
results expressed or implied by such forward-looking statements.
Any forward-looking statements are made as of the date hereof and,
except as required by law, Organic Garage assumes no obligation to
publicly update or revise such statements to reflect new
information, subsequent or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210607005269/en/
Bill Mitoulas T: (416) 479-9547 E:
investor_relations@organicgarage.com W: www.organicgarage.com
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