TORONTO, Nov. 07, 2018 (GLOBE NEWSWIRE) — Emblem Corp. (TSXV: EMC, OTCQX: EMMBF) (“Emblem” or the “Company”) today announced the appointment of Connie A. Stefankiewicz and Loreto Grimaldi to its Board of Directors (the “Board”) following Emblem’s annual and special shareholders’ meeting. Harvey Shapiro, current chair, and Maxim Zavet have stepped down from the Board, and the Board would like to thank them for their immense contributions since Emblem’s inception. Ms. Stefankiewicz and Mr. Grimaldi will join current Board members Daniel Milliard, Jeffrey Fineberg, John H. Stewart, Terry Johnson and Nick Dean. In connection with the resignation of Mr. Shapiro, the Board has appointed independent director Mr. Milliard as the new chair of the Board.
“Both Connie and Loreto bring an incredible amount of experience to our Board. Connie possesses an impressive background with a leading Canadian financial institution, most recently serving as Chief Marketing Officer. This expertise will be a valuable asset for Emblem as we pursue our strategic focus on innovation and brand building,” said Nick Dean, CEO of Emblem. “Loreto also brings a strong background as a business partner and trusted advisor to C-suite leaders and boards of directors. As an accomplished senior executive with global legal and business transformation experience, he brings a wealth of knowledge to help inform and shape Emblem’s global growth strategy.”
“With a strategic focus on product innovation, brand building and strengthening its distribution channels, Emblem is at a critical juncture in its evolution,” said Dean. “The Company is poised to see a number of initiatives come to fruition over the coming months, including the opening of a 30,000 sq. ft. Product Innovation Centre with GMP capabilities, entry into the German market in mid-2019, and the continued growth of the both medical and adult-use cannabis markets domestically. The bench strength of the Board will provide the guidance and expertise to see Emblem through this exciting period of growth and transformation.”
In connection, subject to receipt of the TSX Venture Exchange’s approval of both Ms. Stefankiewicz and Mr. Grimaldi’s appointment, the Company has approved the granting of 250,000 incentive stock options (the “Options”) to each of Ms. Stefankiewicz and Mr. Grimaldi. Such Options are exercisable at a price of $1.37 per share for a period of five years from the date of grant and shall vest over a period of three years in equal annual installments of one-third of the Options on each of November 6, 2019, 2020 and 2021.
In addition, the Board has also approved the granting of 1,100,000 Options to certain employees of the Company. Such Options are exercisable at a price of $1.37 per share for a period of five years and are subject to vesting as to one-third the number of Options granted on each of November 6, 2019, 2020 and 2021.
All other items were passed at the meeting. Full details of all policies and proposals are more fully described in the Company’s Management Information Circular as filed on www.sedar.com.
Emblem is a fully integrated cannabis company focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Through its wholly-owned subsidiary Emblem Cannabis Corporation, Emblem is licensed to cultivate, process, and sell cannabis and cannabis derivatives in Canada under the Cannabis Act. Emblem’s state-of-the-art indoor cannabis cultivation facility and Product Innovation Centre is located in Paris, Ontario. Emblem is also the parent company of GrowWise Health Limited, one of Canada’s leading cannabis education services. Emblem trades under the ticker symbol EMC on the TSX Venture Exchange.
For more information, please visit www.emblemcorp.com.
For media inquiries, please contact:
For investor inquiries, please contact:
Chief Financial Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which Emblem believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While Emblem is not aware of any misstatement regarding any industry or government data presented herein, the medical marijuana industry involves risks and uncertainties and is subject to change based on various factors.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company’s December 31, 2017 Management’s Discussion and Analysis, which has been filed with the Canadian Securities Administrators and available on www.sedar.com. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.