TORONTO, June 28,
2024 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM)
("EMERGE" or the "Company"), a premium
e-commerce brand portfolio, announced that it held its annual
general meeting of shareholders today and that all matters put
forward before shareholders for consideration and approval as set
out in the Company's management information circular dated
May 13, 2024, were approved by the
requisite majority of votes cast at the meeting.
In particular, shareholders approved the election of all
director nominees, the appointment of MNP LLP as the Company's
auditors, authorized the Board of Directors (the "Board") to
fix the auditor's remuneration for the ensuing year and approved
the Company's fixed Equity Incentive Plan, as amended and
restated.
All four of the individuals nominated for the board, all of whom
previously served as directors of the Company, were elected as
directors:
- Drew Green
- Ghassan Halazon
- John Kim
- Ian McKinnon
Following the meeting, the Company re-appointed Drew Green
as Chairman of the Board, John Kim as Audit Committee Chair
and Ian McKinnon as Compensation,
Governance and Nominating Committee Chair.
Jonson Sun did not seek re-election to the EMERGE Board of
Directors. Mr. Sun will continue to support the Company in an
advisory capacity moving forward.
The Board wishes to thank Mr. Jonson Sun for his various
contributions to EMERGE through the years, and looks forward to
continuing to work with him as an advisor to the Company.
Issuance of Restricted Share Unit Grants
The Company announces the granting of restricted share units
(the "RSUs"), pursuant to the Company's omnibus equity
incentive plan.
The grants were made as part of the Company's annual
compensation process and are intended to reward and incentivize
performance and contributions to EMERGE's future success.
A total of 5,232,692 RSUs were granted to certain directors,
officers, employees, and consultants of the Company. The RSUs have
a one-year vesting schedule and were issued with an effective price
of $0.065. Each vested RSU entitles
the holder to receive one common share of the Company.
The directors of the Company continue to suspend their cash
retainer and accept compensation in the form of RSUs.
About EMERGE
EMERGE (TSXV: ECOM) is a premium e-commerce brand
portfolio in Canada and the U.S. Our subscription and
marketplace e-commerce properties provide our members with access
to unique offerings across grocery and golf verticals. Our grocery
businesses include truLOCAL.ca, our premium meat
subscription brand, and Carnivore Club, our
artisanal meat brand. Our golf businesses
include UnderPar, our discounted experiences business,
and JustGolfStuff, our golf products & apparel
brand.
To learn more
visit https://www.emerge-commerce.com/
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EMERGE:
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Cautionary notice
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
On Behalf of the Board
Ghassan Halazon
Director, President and CEO
SOURCE EMERGE Commerce Ltd.
