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EMERGE Announces Termination of Investor Relations Agreement, Stock Option Grant, and Update on Issuance of Shares for Services

V.ECOM

TORONTO, Dec. 2, 2022 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified acquirer and operator of niche e-commerce brands, announces that the Company has ended its engagement with LodeRock Advisors Inc. effective December 2022 for strategic investor relations and capital markets communication services.

The Company also granted incentive stock options ("Options) to certain officers and employees of one of the Company's subsidiaries to acquire an aggregate of 350,000 common shares in the capital of the Company, in accordance with the Company's fixed equity incentive plan.

The Options were granted at an exercise price of $0.10. The Options will vest in equal semi-annual instalments over the next four years and expire five years from the date of grant.

The Option grants are governed by the terms of the Company's fixed equity incentive plan approved by shareholders at the Company's Annual and Special Meeting on June 28, 2022 and are subject to the requirements of the TSX Venture Exchange.

The Company also issued 150,000 Common Shares at a deemed price per Common Share equal to $0.20 pursuant to the shares for services agreement previously announced on March 11, 2022.

About EMERGE

EMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses various online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.co, WagJag.com, BeRightBack.ca, and Wanlow.com. EMERGE was named one of Canada's Top Growing Companies by Globe and Mail in 2022 (and 2020), and one of the fastest growing companies in Canada by the Startup 50 in 2020.To learn more about EMERGE, visit https://www.emerge-brands.com/

Follow 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.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements including statements regarding the Services Agreement. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's annual information form, which are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director and CEO

SOURCE EMERGE Commerce Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/December2022/02/c9742.html