Command Center Reaches Agreement with Ephraim Fields of Echo Lake Capital
Command Center, Inc. (OTCQB: CCNI), a national provider of on-demand and temporary staffing solutions, and Ephraim Fields of
Echo Lake Capital jointly announce today that they have entered into a settlement agreement. Under the settlement agreement,
Command Center will appoint Lawrence F. Hagenbuch to its board of directors and will nominate a designated slate of seven directors
for election at its upcoming annual meeting, consisting of Lawrence F. Hagenbuch, Richard K. Coleman, Jr., Steven Bathgate, Steve
Oman, R. Rimmy Malhotra, JD Smith and Galen Vetter.
All parties to the agreement have agreed to vote their shares of Command Center stock in favor of the election of the designated
slate, and Ephraim Fields has agreed to not solicit proxies in support of its previously filed preliminary proxy statement.
“We are pleased to have reached a resolution that we believe is in the best interests of all shareholders,” said Rick Coleman,
Command Center CEO. “We believe this settlement demonstrates our board and management team’s fervent commitment to achieving
Command Center’s full potential. To that end, we will continue to work constructively with Mr. Fields and with all other
shareholders to maximize shareholder value.”
Ephraim Fields commented: “Since I first called for changes in the company’s leadership, there have been several important
developments. The company’s Chairman has resigned, the CEO has resigned and a non-executive Board Director has resigned. In
addition, a current Board Member will not be nominated for re-election at the upcoming shareholder meeting. I am optimistic that
these four people have been replaced with individuals who have the skill set and motivation necessary to act in the best interests
of all shareholders.”
About Command Center
Command Center provides flexible on-demand employment solutions to businesses in the United States, primarily in the areas of
light industrial, hospitality and event services. Through 67 field offices in 23 states, the company provides employment annually
for approximately 33,000 field team members working for over 3,200 clients. For more information about Command Center, go to
commandonline.com.
Important Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to
uncertainties and risks, including, but not limited to, national, regional and local economic conditions, the availability of
workers’ compensation insurance coverage, the availability of capital and suitable financing for the company’s activities, the
ability to attract, develop and retain qualified store managers and other personnel, product and service demand and acceptance,
changes in technology, the impact of competition and pricing, government regulation, and other risks set forth in our most recent
reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission, copies of which are available on our website at
www.commandonline.com and the SEC website at www.sec.gov. All such forward-looking statements, whether written or oral, and whether made by or on behalf of
the company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the
forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
Liolios
Cody Slach, 949-574-3860
CCNI@liolios.com
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