Trading Symbol: VPI
VANCOUVER, BC, July 20, 2021 /CNW/ - Vitality Products Inc. held
its annual and special general meeting of shareholders ("AGM") on
July 20, 2021. The Board of
Directors is pleased to announce that all resolutions put to vote
at the AGM passed with a 99.97% or higher approval from the votes
cast. Joanne Yan was elected
to the Board of Directors for the first time and Brian L. Gessner (Chairman of the Board),
Richard V. Gannon, Cheryl Grant (President & CEO), W. Douglas Grant (Vice President & CFO) and
Stuart E. Pennington were re-elected
to the board.
SHAREHOLDERS ELECT JOANNE YAN TO THE BOARD OF
DIRECTORS
Joanne Yan brings 25 years
experience in the public markets including currently serving on the
Board of Directors for ElectraMeccanica Vehicles Corp. (NASDAQ:
SOLO) and has served as a senior corporate executive, director and
consultant in a number of public companies in North America, Europe and China. Joanne is active in the
cross-border investment and mergers and acquisitions space and is
familiar with the business culture and operations of North American
and Chinese businesses. Joanne's expertise includes market
access, business negotiations, project and company financing,
strategic planning, business development, and governance and
compliance. Joanne has advised on significant transactions between
Chinese and North American companies.
In addition to serving on the Board of Directors, Joanne also
joins Vitality's Audit Committee.
Cheryl Grant, President & CEO
of Vitality Product Inc. states "the Board is excited Joanne Yan has joined the Board of Directors of
Vitality. Joanne is a strategic thinker, activator and
relationship builder. We are excited for Joanne to join the
Board and build new relationships and support the Executive Team in
the future growth of the Company."
VITALITY BOARD APPOINTS BRIAN GESSNER TO CHAIRMAN OF THE
BOARD
Brian Gessner has been appointed
Chairman of the Board effective July 20,
2021, replacing Bruce
McDonald. Brian is a Vice President & Senior
Private Banker of Ultra-High Net Worth Private Banking with Private
Wealth Group at BMO Bank of Montreal Private Banking. Brian
joined Vitality Products Inc.'s Board of Directors in 2009 and is
excited to step into a new role to support and guide the Company in
its growth plans.
Additional information on Vitality's management team and Board
of Directors is available at www.investinvitality.com.
VITALITY DIRECTOR BRUCE MCDONALD RESIGNS FROM THE
BOARD
Vitality Products Inc. announces Bruce
J. McDonald has resigned from the Board of Directors and his
role as Chairman of the Board. Bruce is retiring following 26
years of service on the Board of Directors of Vitality Products
Inc. and did not seek re-election at the AGM. The Board
wishes to express its appreciation for Mr. McDonald's years of
service to the Company.
VITALITY GRANTS 425,000 INCENTIVE STOCK OPTIONS
Vitality Products Inc. announces that, pursuant to its stock
option plan, the Company has granted incentive stock options to
directors, officers, employees and consultants which will entitle
the option holders to purchase up to 425,000 common shares of the
Company at a price of $0.19 per share
for a period of five years. These options are not subject to
any vesting schedule and may be exercised at any time up to the
expiry date of July 20, 2026.
These options are subject to a four-month hold period commencing
July 20, 2021. Shareholders
ratified and approved, subject to regulatory approval, the
continuance of the Company's 10% rolling stock option plan at the
Company's AGM held on July 20,
2021.
ABOUT VITALITY
Visit our Investor site: investinvitality.com
VITALITY® is an award-winning line
of clean vitamins and supplements, marketed to natural health
retailers and health and wellness conscious consumers.
Manufactured locally in BC, and currently sold in 600 natural
health stores and online, the products are non-GMO and third party
tested. Following the proven success of the line through
repeat orders and same store sales growth, the Company is focused
on expanding distribution and growing sales in-store and online;
evaluating, researching and developing new products for future
distribution; and exploring new markets for its products.
On behalf of the Board of
VITALITY PRODUCTS INC.
"Cheryl A. Grant"
(signed)
Cheryl A. Grant, President &
CEO
Forward-Looking Information
Information set forth in this news release involves
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors
include, among others, the following risks: risks associated with
marketing and sale of securities; the need for additional
financing; reliance on key personnel; the potential for conflicts
of interest among certain officers or directors with certain other
projects; and the volatility of common share price and
volume. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and except as required by law, the Company
undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should
change. Investors are cautioned against attributing undue
certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
SECURITIES LEGISLATION.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Vitality Products Inc.