Rocky Mountain Chocolate Factory Releases Preliminary Results of 2021 Annual Meeting of Shareholders
DURANGO, Colorado, October 08, 2021– (COMMERCIAL THREAD) – Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) (the “Company” or “RMCF”), one of the largest retailers, franchisors and manufacturers of premium artisanal chocolates and confectionery in North America , today announced the preliminary results of the vote following the Company’s 2021 Annual Meeting of Shareholders (“Annual Meeting”), as scheduled by the Independent Election Inspector. Based on the preliminary vote count, RMCF shareholders voted to elect four directors appointed by RMCF: Brett Seabert, Jeffrey Geygan, Gabriel Arreaga and Elisabeth Charles; and two directors appointed 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 made up of directors appointed by the Company.
Rocky Mountain Chocolate Factory has released the following statement:
“RMCF appreciates the continued support and feedback we have received from our shareholders throughout this process. The company’s board of directors and management team continue to execute RMCF’s transformation strategy to drive growth and profitability, expand its omnichannel distribution channels, including digital and e-commerce platforms, and bring value to all of the company’s shareholders. We look forward to welcoming Mr. Arreaga, Ms. Charles, Mr. Riegel and Ms. Taylor as directors. We are confident that the new RMCF Board of Directors will work collaboratively on behalf of the company’s shareholders, employees and franchisees to build on RMCF’s 40-year legacy and continue to deliver memorable experiences to consumers. “
The results announced today are considered preliminary until the final results are compiled and certified by the Independent Election Inspector. The final results will be communicated on a Form 8-K which will be filed with the United States Securities and Exchange Commission, at which time they will be 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 franchisor of self-serve gourmet chocolate, confectionery, and frozen yogurt stores and a manufacturer of an extensive line of premium chocolates. range and other confectionery products. The Company, its subsidiaries and its franchisees and licensees operate more than 300 Rocky Mountain Chocolate Factory and self-service frozen yogurt stores in the United States, South Korea, Qatar, Republic of Panama and Republic of from the Philippines. The Company’s common shares are listed on the Nasdaq Global Market under the symbol “RMCF”.
This press release includes statements about 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 fall within the safe harbor protection provided by these 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. 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 can be identified by the use of forward-looking words such as “will”, “intend”, “believe”, “expect”, “anticipate”, “should “,” “Plan”, “estimate”, “potential” or similar expressions. Factors that could cause differences in results include, but are not limited to: the impact of the COVID-19 pandemic and conditions global economic impact on the Company’s business including, but not limited to, online sales, factory sales, retail sales and royalties and marketing fees, Company liquidity, cost reduction measures and preservation of the Company’s capital, the realization of the anticipated potential benefits of the strategic alliance with Edible Arrangements®, LLC and its affiliates (“Edible”), the ability to supply products to Edible as part of the strategy alliance, the capaci edible 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, the Company’s international product responsiveness, consumer and retail trends, raw material costs and availability, competition, Company co-branding success strategy, success international expansion efforts and the effect of government regulations. Government regulations to which the Company and its franchisees and licensees are or may be subject that could cause results to differ from forward-looking statements include, but are not limited to: local, state and federal laws relating to health, sanitation, safety, building and fire codes, franchising, licensing, employment, manufacturing, packaging and distribution of food products and highway carriers. For a detailed discussion of the risks and uncertainties that may cause the Company’s actual results to differ from forward-looking statements contained in this document, please see “Risk Factors” contained in Section 1A. of the Company’s annual report on Form 10-K for the fiscal year ended February 28, 2021, as amended. Additional factors that could cause such differences include, but are not limited to: the duration and severity of the current COVID-19 pandemic and its effects on, among others, factory sales, retail sales, royalties and fees and marketing operations, the effect of any government action or employer-paid benefits mandated in response to the COVID-19 pandemic, and the Company’s ability to manage costs and reduce expenses and the availability of additional funding if and when needed. These forward-looking statements speak only as of the date hereof. As such, they should not be unduly relied on for more current circumstances. Except as required by law, the Company does not undertake to publicly release any revisions to these forward-looking statements which could reflect events or circumstances occurring after the date of this press release or those which could reflect the occurrence of unforeseen events.
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