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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Cautionary notice
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On Behalf of the Board
Ghassan Halazon
Director, President and CEO
SOURCE EMERGE Commerce Ltd.
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