Coho Collective Kitchens (COHO.V), a Vancouver, British Columbia-based company focused on empowering food entrepreneurs, announced today that it had expanded its commissary kitchen operations into Vancouver Island with the imminent opening of a new kitchen facility located at 1701 Douglas Street, Victoria, BC.
The commercial kitchen opening is part of Coho’s long-term plan to build a lasting community in the food and beverage technology industry across the country.
Coho Victoria will be the company’s first physical footprint on Vancouver Island. The facility is located in the downtown core of Victoria at the Victoria Public Market on Hudson.
The newly minted commercial kitchen space covers 2,324 square feet and features eight stations for up to 16 potential businesses, including ghost kitchens, caterers, consumer packaged goods companies and research and development for restaurants.
Andrew Barnes, Coho Collective CEO, commented, “Victoria is one of the most beautiful cities in British Columbia, and one with diverse population growth. We have big plans in this city and are thrilled to announce the opening of our new commissary kitchen in our province’s capital and help to drive more food concepts to the area. This is our first Victoria location and a second is expected to open this fall.”
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According to the company’s filing statement, it currently operates across three locations in the metropolitan Vancouver area with 108 Members. Coho also has more than 300 potential Members waitlisted, and including the Victoria facility, it has multiple shared kitchen spaces opening in 2022 and 2023.
Coho Collective Kitchens IPO’d on June 13, 2022 for aggregate proceeds of $5.0 million CAD.
In other news, the company announced on July 18, 2022, that it had appointed Carla Matheson as CFO, effective August 15, 2022.
Matheson was previously the CFO of Tiny Capital, a leading venture firm specializing in the acquisition of innovative and disruptive companies. On top of extensive M&A experience, Matheson is well familiar with managing high growth companies and is currently a director of two reporting issuers.
This appointment fills the vacancy created with the resignation of previous CFO, Ravinder Kang which took place July 15, 2022.
As a result of the appointment, Matheson will be granted 400,000 restricted share units effective August 15, 2022. The RSUs will fully vest one year from the date of grant. Once vested, each unit can be exercised to receive one common share in the company.
Coho Collective Kitchens currently trades at $0.21 per share for a market cap of $19.74 million.
–Gaalen Engen
