Colabor CFO Pierre Blanchette to step down in July

SAINT-BRUNO-DE-MONTARVILLE, Quebec - Colabor Group Inc. (TSX: GCL) announced Wednesday that Senior Vice-President and Chief Financial Officer Pierre Blanchette will leave the company effective July 4, 2025, to pursue other career opportunities. According to InvestingPro data, this transition comes as the company faces certain financial challenges, with its overall financial health score currently rated as weak.

The food distribution company will begin searching for a replacement for the vacated CFO position, according to the statement based on a press release.

"I would like to thank Pierre for his contribution to the execution of the strategic plan of Colabor. I wish him the best of luck in his upcoming projects," said Louis Frenette, President and Chief Executive Officer of Colabor Group.

Colabor operates as a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets in Quebec and Atlantic provinces, as well as the retail market. The company specializes in fish and seafood, meat, and other specialty food products through its Broadline activities.

The announcement comes as part of normal executive transition processes at the Quebec-based food distribution firm.

In other recent news, GCL Global Holdings Ltd has secured a convertible note financing facility that could provide up to $45.5 million in capital. The initial issuance under the agreement with ATW Partners involves a senior unsecured convertible note with a principal amount of $2.9 million, sold at a price of $2.61 million. This facility allows GCL to compel the investor to purchase additional notes totaling up to $42.6 million, contingent on meeting certain conditions. These notes carry an annual interest rate of 6% and mature in three years, with interest payable monthly either in cash or, under specific conditions, in GCL’s ordinary shares. GCL’s CEO, Sebastian Toke, highlighted that this financing represents confidence in the company’s strategy and will help accelerate strategic growth initiatives. The capital infusion is intended to support GCL in scaling operations and investing in gaming innovations. This development reflects the company’s focus on expanding its presence in the rapidly growing Asian gaming market.

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