ElectraMeccanica Announces Reconstitution of its Nominating Committee
August 02 2019 - 8:31AM
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica”
or the “Company”), a designer and manufacturer of electric
vehicles, has provided an update regarding a recent review by
Nasdaq Listings Qualifications of the Company’s recent continuous
disclosure respecting the composition of the Company’s Nominating
Committee.
In this respect the Company reports that from
the time of the Company’s listing on Nasdaq (August 9, 2018) up to
June 24, 2019, the Company was not in compliance with Nasdaq
Listing Rule 5605(e)(1)(B) which requires that its Nominating
Committee be comprised solely of independent directors.
ElectraMeccanica originally had four members appointed to its
Nominating Committee, two of whom were not independent
directors. The Company had intended to reconstitute the
members of its Nominating Committee prior to listing on Nasdaq,
however, it inadvertently failed to do so. Upon realizing
such non-compliance around the time of ElectraMeccanica’s annual
general meeting which was held on June 24, 2019 (the “AGM”), the
Company reconstituted the members of its Nominating Committee at
the Board meeting held immediately subsequent to the AGM. This has
since been resolved and the members of the Company’s Nominations
Committee are currently independent directors Shaun Greffard,
Steven Sanders and Luisa Ingargiola. In addition, all other
Company Board Committees have now been reconstituted to comprise
only independent directors going forward.
About ElectraMeccanica Vehicles
Corp.
ElectraMeccanica is a designer and manufacturer
of electric vehicles. The Company builds the innovative,
all-electric SOLO, a single passenger vehicle developed to
revolutionize the way people commute, as well as the Tofino, an
elegant high-performance two-seater electric roadster sports car.
Both vehicles are tuned for the ultimate driving experience while
making your commute more efficient, cost-effective and
environmentally friendly. Intermeccanica, a subsidiary of
Electrameccanica, has successfully been building high-end specialty
cars for 60 years. For more information,
visit www.electrameccanica.com.
Forward Looking Statements
Some of the statements contained in this press
release are forward-looking statements and information within the
meaning of applicable securities laws. Forward-looking statements
and information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Media Contact: Sean Mahoney (310) 867-0670
sean@ElectraMeccanica.com
Investor Relations: Greg Falesnik Managing
Director MZ Group - MZ North America (949) 385-6449
greg.falesnik@mzgroup.us www.mzgroup.us
Source: Electra Meccanica Vehicle Corp
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