General Assembly Holdings Limited announced the following leadership changes: Ali Khan Lalani, founder and current Chief Executive Officer has transitioned from CEO into the role of President of the Company, effective September 15, 2022. He will apply his talents to the Company's day-to-day operations, taking on many of Mr. Tharakan's responsibilities. Mr. Lalani will maintain his directorship on the Board of Directors of the Company (the “Board”).

The Board thanks Mr. Lalani for his leadership as CEO in growing GA Pizza from a concept to an established CPG brand sold in 500 retail locations across Canada. The Board looks forward to his continued contributions during the next phase of GA Pizza's growth. Eric Balshin has been appointed as Interim CEO, subject to TSX Venture Exchange approval, effective September 15, 2022.

Mr. Balshin has extensive capital markets and consumer product goods start-up experience, and brings a financial, bottom-line focus to the business. He also serves as the Vice President of Capital Markets Advisory at Sophic Capital. On September 14, 2022, the Company and Sophic Capital have agreed to the mutual termination of that certain capital markets advisory agreement entered into between the Company and Sophic Capital on December 20, 2021 (as amended on February 7, 2022).