EMERGE Commerce Announces Results of Voting at Annual General Meeting of the Shareholders, and the Issuance of Restricted Share Units
TORONTO, June 30, 2025 /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, 2025, 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, and authorized the Board of Directors (the "Board") to fix the auditor's remuneration for the ensuing year.
The following four nominees were elected by the shareholders as directors of the Company for the ensuing year:
Director Nominee | Votes For | % of Votes |
Drew Green | 19,643,580 | 88.20 % |
Ghassan Halazon | 22,239,884 | 99.86 % |
John Kim | 22,240,034 | 99.86 % |
Ian McKinnon | 22,240,034 | 99.86 % |
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.
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 2,880,000 RSUs were granted to certain directors, officers, and employees of the Company. The RSUs have a one-year vesting schedule and were issued with an effective price of $0.05. Each vested RSU entitles the holder to receive one common share of the Company upon redemption thereof.
Starting July 1, the directors of the Company have agreed to accept 50% of their annual retainer in cash, and certain directors have agreed to accept RSU grants in lieu of cash for the remainder, pursuant to the Company's omnibus equity incentive plan as part of the directors' compensation package on a go forward basis. The compensation change reinforces the Board's confidence in the Company's long-term outlook and reflects its alignment with shareholder value creation.
About EMERGE
EMERGE is a premium, Canadian e-commerce and retail brand portfolio. Our subscription, marketplace, and retail businesses provide our members with access to offerings across our grocery and golf verticals. truLOCAL is our flagship Canadian meat and seafood subscription service, connecting local farmers with a health-conscious audience. Our golf vertical includes our discounted tee-times/ experiences brand, UnderPar, and our discounted golf apparel and equipment brands, JustGolfStuff and Tee 2 Green.
To learn more visit https://www.emerge-commerce.com/
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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.
On Behalf of the Board
Ghassan Halazon
Director, President and CEO
SOURCE Emerge Commerce Ltd.