[1] Lola was launched by artist/writer Sally McKay, curator John Massier and arts writer and editor Catherine Osborne.
Catherine Osborne became the editor and Sally McKay became art director, though both played an equal role in the development of the editorial content.
Production of the magazine took place mostly at McKay's second-floor apartment in Parkdale, with editorial meetings held once a week at Lakeview Diner, a popular greasy spoon on Dundas Street in Toronto.
With the new role, Lola's founders hoped to secure a financial investor in order to transform the magazine into a paid publication that would attract more advertisers and readers.
During its run, Lola was frequently covered by the press, with articles appearing The Globe and Mail, Toronto Star, NOW, Shift, CBC among many others.