General Assembly Pizza secures C $ 1 million in second tranche of debt financing


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TORONTO – (BUSINESS WIRE) – General Assembly Holdings Limited (the “Society” Where “Georgia Pizza“) (TSXV: GA), a Toronto pizzeria turned omnichannel of consumer packaged goods (“GIC“), is pleased to announce that it has closed a second tranche of debt financing totaling $ 1 million (the”To lend”) Under the same conditions as the $ 2 million debt financing announced by the Company on November 5, 2021.

The Loan will bear interest at the rate of 12% per annum, will be evidenced by a promissory note in favor of the lender and will be secured by a fixed and floating charge on the assets of the Company in accordance with the terms of a general guarantee agreement, which will be subordinated in priority to any security granted by the Company to any bank, financial institution or other commercial lender under any future credit facility issued by such lender. The loan will be repayable in equal monthly installments from the date which falls two years after the advance of the loan and ends on the date which falls one year and six months after that date.

The Company will pay the Lender an additional fixed monthly fee of $ 1,000, equivalent to 1.2% of the original loan principal per year, as a monitoring fee. The Company also intends to issue to the Lender, subject to the approval of the TSX Venture Exchange (the “TSXV“), 1,652,228 warrants to purchase ordinary shares of the Company (each, a”Subscription voucher“), each warrant entitling the Lender to acquire one Class A common share (“Ordinary share) During the forty-two month term of the Loan at an exercise price of $ 0.76.

The Company shall have the right to prepay the Loan, in whole or in part, at any time before the due date, without any notice being given to the Lender and without any premium or penalty.

GA Pizza will use the loan for working capital, general business needs and to support the purchase of equipment at its new dedicated production facility in Vaughan, Ontario.

Loans are subject to TSXV review and acceptance.

About GA Pizza

GA Pizza began life as a quick, casual pizza place in the heart of Toronto. Four years later, we’re also delivering a line of consumer packaged freezer-to-table products and a revolutionary e-commerce experience right to the consumer, not to mention a pizza box with more than one pizza in it. Our ambition ? Make delicious pizzas available to everyone, everywhere. We are always striving to take pizza to new heights, to show the world that better pizza is possible, to find new spaces and places to deliver unparalleled pizza experiences. Find us in your freezer or visit for more information.

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Warning notice

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

Forward-looking information

This press release contains statements that constitute “forward-looking information” or “forward-looking statements” (all “forward-looking information”) within the meaning of applicable securities laws, including statements regarding plans, intentions, current beliefs and expectations. of the Company with respect to future business activities and operational performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intention”, “plan”, “anticipate”, “believe”, “estimate” , “Expect” or similar expressions and includes information regarding the expected increases in the Company’s production capacity at the main plant and the Company’s growth strategy.

Investors are cautioned that forward-looking information is not based on historical facts but rather reflects the expectations, estimates or projections of the Company’s management regarding future results or events based on the opinions, assumptions and estimates of management considered. as reasonable on the date the statements are made. Although the Company believes that the expectations reflected in this forward-looking information are reasonable, such information involves risks and uncertainties, and one should not place undue reliance on such information, as unknown or unforeseeable factors could have material adverse effects on the Company. the future results, performance, or achievements of the combined company. Some of the key factors and risks that could cause actual results to differ materially from those projected in the forward-looking information include, but are not limited to, the following: there is no market for the securities of the society ; the Company’s limited operating history; global economic risk; the impact of COVID-19 on Society; the general economic environment; cybersecurity risks; financial projections may turn out to be materially inaccurate or incorrect; the Company may encounter difficulties in forecasting sales; general competition in the industry from other firms; growth risk management; dependence on management; insurance risks; changes in the costs of food and supplies could adversely affect profitability and ultimately our results of operations; our business could be affected by increased labor costs or difficulties in finding suitable employees; changes in customer tastes and preferences, spending habits and demographic trends could lead to lower sales; changes in nutrition and food regulations; the failure to establish our main production plant; the inability to increase production capacity; disruption in 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; use of third parties for shipping and processing payments; environmental laws; we may not persuade customers of the benefits of paying our prices for better food; our marketing and advertising strategies may not be successful, which could have a negative impact on our business; additional financing needs; the Company can 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 relating to the activities of the Company and to market conditions.

If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking information turn out to be incorrect, actual results could differ materially from those described in this document as being intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify risks, uncertainties and important factors that could cause actual results to differ materially, there may be others that could cause results not to be as anticipated. , estimated or planned. The Company does not intend and assumes no obligation to update this forward-looking information, except as required by applicable law.


Tat Read, Senior Manager, Partnerships and Communications, GA Pizza

[email protected]

Investor Relations

Eric Balshin, Sophistic Capital


[email protected]

Ali Khan Lalani, CEO and Founder, GA Pizza

[email protected]

Source: General Assembly Holdings Limited


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