Toro Expands Distribution with Loblaw Companies Limited
News Release - Montreal, Quebec – May 17th, 2022: Toro Beverages Inc. (“Toro”) or the "Company"), is pleased to announce the further expansion of its ToroMatcha brand within Loblaw companies Limited, Canada’s largest grocery retailer. The rapidly growing matcha-powered energy drinks will now be available for the first time in over 100 Maxi store locations across Quebec.
Maxi was founded in 1984 by Provigo, a division of Loblaw Companies. It is a discount grocery retailer based in Quebec. Maxi is the largest of Loblaws' Quebec supermarket chains and is the Quebec equivalent of No Frills, a chain of franchised discount grocery stores outside Quebec.
ToroMatcha is already distributed across Loblaws, Provigo and Real Canadian Superstore stores located in the provinces of Alberta, British Columbia, Manitoba, Ontario, Quebec and Saskatchewan. Toro has now started distributing its products in Maxi stores in Quebec. ToroMatcha is well positioned to be merchandised in over 100 Maxi’s locations this Summer.
Oussama Saoudi (Sam), President of the Company commented “Our mission is to transform the energy drink category. No one wants highly caffeinated and sugar loaded beverages anymore. ToroMatcha is becoming an established brand in Canada and we are excited to continue expanding our network of retailers across the country. Our partnership with Loblaws provides us with a key national presence. We also look forward to beginning expanding into key US market locations now that we have the Canadian channel working for our customers. We are thrilled to see such an overwhelming demand for our better-for-you energy drinks in Canada and we can't wait to bring them to the rest of the world, welcome to the new era of energy drinks.”
About Toro Beverages Inc
Toro is a bold, fast-growing beverage company founded in 2017, when it revolutionized the energy drink industry by introducing Canada's first matcha-powered energy drink. The Company now markets natural energy drinks under the brand ToroMatcha, as well as innovative Hard Matcha Seltzers under the brand Matcha Colada. Toro products are carried across Canada and the United Arab Emirates through a distribution network of nearly 800 points of sale including select Loblaws, Whole Foods, Sobeys, IGA, Metro and Zoom stores. Toro plans to expand into the United States and other global markets upon completion of this Transaction. The company has built powerful brands that resonate with the increasing demand for better-for-you products. Toro is committed to becoming a global leader in matcha-based beverages across both non-alcoholic and alcoholic categories. For more information about Toro, visit www.torobeverages.com
For further information, please contact:
Oussama Saoudi (Sam)
Chief Executive Officer and Director
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking information contained or referred to in this news release includes but is not limited to the Company’s partnership with CBM and the anticipated expansion of the availability of the Company’s products across Canada.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Certain assumptions in respect of continued demand for the Company’s products; that future added production capacity will enable us to increase our sales volume, that we do not experience material interruptions or supply chain failures as a result of COVID-19, our ability to retain key personnel, the availability of labour, and changes and trends in our industry or the global economy are material assumptions made in preparing forward-looking statements or information and management's expectations. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward- looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; regulatory changes in the Company’s primary markets and the impact of and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company's contracted production facilities or in its supply and distribution channels. The forward- looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.