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An Update on Glooscap Ventures’ former Partnership with Ilia Gourmet Foods Canada Inc.

In follow-up to our 2019 AGM, we wanted to provide the community with an update on Glooscap Venture’s business plan to import feta cheese and processing equipment. During our AGM, we shared with you that we made the decision to dissolve our relationship with Ilia Gourmet Foods Canada Inc. as they were not meeting the obligations as required by them in their partnership contract with us. Since that time, and upon completing an annual audit and routine financial oversight, Glooscap Ventures identified irregularities in spending and accounting projects associated with Ilia Gourmet Canada Incorporated. As soon as these irregularities were confirmed, Glooscap Ventures referred the matter to the R

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