Colabor Group Inc.
TSX : GCL

Colabor Group Inc.

November 13, 2017 17:00 ET

Colabor Group Inc. Announces the Departure of Stephane Gonthier From the Board of Directors

BOUCHERVILLE, QUEBEC--(Marketwired - Nov. 13, 2017) - Colabor Group Inc. (TSX:GCL) ("Colabor" or the "Corporation") announced today that Stéphane Gonthier, member of the Board and Chairman of the Corporate Governance and Human Resources Committee, has informed the Corporation's Board of Directors of his plans to step down from the Board as of December 31, 2017. Mr. Gonthier has been a member of Colabor's Board of Directors since May 1, 2013.

"With the arrival of new shareholders and Board members in 2016, I felt it was necessary to remain on the Board of Directors to ensure a quick and successful transition. I also wanted to make sure there was an efficient selection process in place to find a successor for our current president and CEO, Claude Gariepy, who will be stepping down in 2018. I believe my work here is done, and it is now time for me to move on," said Mr. Gonthier.

The Chairman of the Board of Directors, Robert Cloutier, thanked Mr. Gonthier for his contribution to Colabor's development: "Although Mr. Gonthier now lives in the United States, he was consistently present at Board meetings, and demonstrated exemplary commitment in making himself available to Board members. Over the last year, Mr. Gonthier contributed greatly to the transition between the old and new Board. Stéphane is a tireless worker, and we thank him sincerely for his contribution."

The Board of Directors immediately began the process to fill Mr. Gonthier's vacancy as soon as possible.

ABOUT COLABOR

Colabor is a distributor and wholesaler of food and non-food products serving the foodservice market (cafeterias, restaurants, hotels, restaurant chains) in Quebec, Ontario and the Atlantic provinces, as well as the retail market (grocery stores and convenience stores).

FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance and business operations and future events. These statements are subject to risks, uncertainties and assumptions. Actual results and events may differ. The Corporation assumes no obligation beyond what is required under law to update forward-looking statements pursuant to changes in the beliefs, estimates and opinions of management or to other factors.

Contact Information

  • Investors: Colabor Group Inc.
    Jean-Francois Neault, CPA, CMA, MBA
    Vice President and Chief Financial Officer
    450-449-0026, ext. 1308
    450-449-6180 (FAX)
    jean-francois.neault@colabor.com

    Media: Maison Brison Inc.
    Martin Goulet, CFA
    Senior Vice President, Investor Relations
    514-731-0000, ext. 229
    514-731-4525 (FAX)
    martin@maisonbrison.com