Rocky Mountain Chocolate Factory Reports Preliminary Results of 2021 Annual Meeting of Stockholders
October 08 2021 - 12:11PM
Business Wire
Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) (the
"Company" or “RMCF”), one of North America's largest retailers,
franchisers and manufacturers of premium, handcrafted chocolates
and confections, today announced the preliminary vote results
following the Company’s 2021 Annual Meeting of Stockholders
(“Annual Meeting”), as provided by the independent Inspector of
Election. Based on the preliminary vote count, RMCF stockholders
have voted to elect four directors nominated by RMCF: Brett
Seabert, Jeffrey Geygan, Gabriel Arreaga and Elisabeth Charles; and
two directors nominated by AB Value Management LLC (“AB Value”):
Mark Riegel and Sandra Taylor. With these preliminary results, the
majority of RMCF’s Board of Directors is composed of directors
nominated by the Company.
Rocky Mountain Chocolate Factory issued the following
statement:
“RMCF appreciates the continued support and input we have
received from our stockholders throughout this process. The
Company’s Board and management team continue to execute RMCF’s
transformative strategy to drive growth and profitability, expand
its omnichannel distribution channels including digital and
e-commerce platforms, and deliver value for all of the Company’s
stockholders. We look forward to welcoming Mr. Arreaga, Ms.
Charles, Mr. Riegel and Ms. Taylor as directors. We are confident
the new RMCF Board will work collaboratively on behalf of the
Company’s stockholders, employees and franchisees to build on
RMCF’s 40-year legacy and continue providing memorable experiences
to consumers.”
The results announced today are considered preliminary until
final results are tabulated and certified by the independent
Inspector of Election. Final results will be reported on a Form 8-K
that will be filed with the U.S. Securities and Exchange
Commission, at which time they will become available on
rmcf.com/SEC-Filings.aspx and https://www.sec.gov/.
About Rocky Mountain Chocolate Factory, Inc.
Rocky Mountain Chocolate Factory, Inc., headquartered in
Durango, Colorado, is an international franchiser of gourmet
chocolate, confection and self-serve frozen yogurt stores and a
manufacturer of an extensive line of premium chocolates and other
confectionery products. The Company, its subsidiaries and its
franchisees and licensees operate more than 300 Rocky Mountain
Chocolate Factory and self-serve frozen yogurt stores across the
United States, South Korea, Qatar, the Republic of Panama, and The
Republic of the Philippines. The Company's common stock is listed
on the Nasdaq Global Market under the symbol "RMCF."
Forward-Looking Statements
This press release includes statements of the Company's
expectations, intentions, plans and beliefs that constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and are intended to
come within the safe harbor protection provided by those sections.
These forward-looking statements involve various risks and
uncertainties. The nature of the Company's operations and the
environment in which it operates subjects it to changing economic,
competitive, regulatory and technological conditions, risks and
uncertainties. The statements, other than statements of historical
fact, included in this press release are forward-looking
statements. Many of the forward-looking statements contained in
this press release may be identified by the use of forward-looking
words such as "will," "intend," "believe," "expect," "anticipate,"
"should," "plan," "estimate," "potential," or similar expressions.
Factors which could cause results to differ include, but are not
limited to: the impact of the COVID-19 pandemic and global economic
conditions on the Company's business, including, among other
things, online sales, factory sales, retail sales and royalty and
marketing fees, the Company's liquidity, the Company's cost cutting
and capital preservation measures, achievement of the anticipated
potential benefits of the strategic alliance with Edible
Arrangements®, LLC and its affiliates ("Edible"), the ability to
provide products to Edible under the strategic alliance, Edible's
ability to increase the Company's online sales, changes in the
confectionery business environment, seasonality, consumer interest
in the Company's products, general economic conditions, the success
of the Company's frozen yogurt business, receptiveness of the
Company's products internationally, consumer and retail trends,
costs and availability of raw materials, competition, the success
of the Company's co-branding strategy, the success of international
expansion efforts and the effect of government regulations.
Government regulations which the Company and its franchisees and
licensees either are, or may be, subject to and which could cause
results to differ from forward-looking statements include, but are
not limited to: local, state and federal laws regarding health,
sanitation, safety, building and fire codes, franchising,
licensing, employment, manufacturing, packaging and distribution of
food products and motor carriers. For a detailed discussion of the
risks and uncertainties that may cause the Company's actual results
to differ from the forward-looking statements contained herein,
please see the "Risk Factors" contained in Item 1A. of the
Company's Annual Report on Form 10-K for the fiscal year ended
February 28, 2021, as amended. Additional factors that might cause
such differences include, but are not limited to: the length and
severity of the current COVID-19 pandemic and its effect on among
other things, factory sales, retail sales, royalty and marketing
fees and operations, the effect of any governmental action or
mandated employer-paid benefits in response to the COVID-19
pandemic, and the Company's ability to manage costs and reduce
expenditures and the availability of additional financing if and
when required. These forward-looking statements apply only as of
the date hereof. As such they should not be unduly relied upon for
more current circumstances. Except as required by law, the Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that might reflect events or
circumstances occurring after the date of this press release or
those that might reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20211008005426/en/
Media Contacts: Dan Scorpio / Jake Yanulis Abernathy
MacGregor amg-rmcf@abmac.com (212) 371-5999
Investor Contact: William P. Fiske Georgeson LLC (212)
440-9128
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