MONTREAL, April 26, 2018 (GLOBE NEWSWIRE) — The Lath of Directors of DAVIDsTEA Inc. (Nasdaq:DTEA) today provided the afterward account acclamation the best contempo accessible advertisement by Rainy Day Investments Ltd. (RDI), a holder of 46% of the outstanding shares of DAVIDsTEA, and Mr. Herschel Segal, RDI’s admiral and a above affiliate of the Lath of Directors of the company:
DAVIDsTEA’s lath and administration are focused on the company’s approaching and are committed to creating amount for all the company’s shareholders.
Mr. Segal co-founded the aggregation and has been on the lath back our antecedent accessible alms until he accommodated on March 5, 2018. Mr. Segal’s affirmation that his proposed ascendancy of the lath would accompany a new, cold eyes for the aggregation is disingenuous. The operational and banking challenges Mr. Segal highlights in his contempo columnist absolution all occurred beneath his watch.
By proposing a agitator slate of seven administrator nominees to alter the absolute board, Mr. Segal is now proposing to finer ascendancy the lath after accepting paid a exceptional to added shareholders.
The DAVIDsTEA Lath is accessible to connected discussions with all shareholders. In particular, it is the Board’s achievement that discussions with Mr. Segal can abide in a effective and able manner, alienated the accidental aberration and amount of a accessible proxy contest.
On March 28, three cogent DAVIDsTEA shareholders (Porchlight Equity Management, LLC, (12.8%), TDM Asset Administration PTY LTD. (12.2%), and Edgepoint Wealth Management, Inc. (11.5%)) beatific a letter to the DAVIDsTEA Lath cogent their affair over RDI’s proposed slate of administrator nominees and added contempo RDI announcements. A archetype of this letter is accessible online at:
The DAVIDsTEA Lath will abide to accede the interests of all the company’s shareholders as it evaluates its options in beforehand of the company’s anniversary affair in mid-June. The aggregation will accommodate added advice in a administration advice annular and shareholders are not appropriate to booty any activity at this time.
This columnist absolution includes advanced statements. These advanced statements about can be articular by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and added words of agnate meaning. These advanced statements abode assorted affairs including management’s behavior and affairs apropos the Company’s cardinal direction. Actual challenge may alter materially from these expectations due to risks and uncertainties including the risks of adventure a accessible cardinal process, the risks of a accessible proxy challenge as able-bodied as set alternating in the Company’s Anniversary Report on Form 10-K dated April 19, 2018 and filed with the Securities and Exchange Commission on April 19, 2018. Any advanced account fabricated by the Aggregation in this absolution speaks alone as of the date on which the Aggregation makes it. The Aggregation undertakes no obligation to about amend any advanced statement, whether as a aftereffect of new information, approaching developments or otherwise, except as may be appropriate by any applicative balance laws.
DAVIDsTEA is a banker of specialty tea, alms a differentiated alternative of proprietary loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories and aliment and beverages, primarily through 240 company-operated DAVIDsTEA stores throughout Canada and the United States as of February 3, 2018, and its website, davidstea.com. The Aggregation is headquartered in Montréal, Canada.
Shareholder QuestionsShareholders who accept questions may acquaintance DAVIDsTea’s proxy abettor at:Laurel Hill Advisory GroupToll chargeless in North America: 1 (877) 452-7184(1 (416) 304-0211 alfresco North America)[email protected]
Media ContactEdelman Nina Godard(416) [email protected]
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