Freshlocal Solutions Inc. announced that it has entered into a loan and security agreement with a group of strategic lenders, pursuant to which the Lenders have agreed to advance $7,000,000 (the "Loan") to Freshlocal, to support the Company's ongoing financial and operational transformation, and to ultimately replace Silicon Valley Bank (the "Bank") as the Company's senior lender. In connection with the Nomination Right, Freshlocal announced the appointment of Mr. Ronan McGrath to the Board of Directors as an independent director of the Company. Mr. McGrath is an investor and experienced public company director.

He is on the Board of Redline Communications Group Inc. and has served on the boards of several other public companies. Mr. McGrath has consulted on strategic issues with some of the world's largest technology companies and is the former President of Rogers Shared Services and Chief Information Officer for Rogers Communications Inc., and previously Chief Information Officer for Canadian National Railway Company. He was also VP Accounting and Comptroller for Canadian National Railway Company.