Eastside Distilling Announces Change to a Virtual-Only Meeting Format for the 2020 Annual Meeting of the Stockholders

Rhea-AI Summary

Eastside Distilling, Inc. (NASDAQ: EAST) has transitioned its 2020 Annual Meeting of Stockholders to a virtual-only format due to COVID-19 concerns. The meeting is scheduled for July 30, 2020, at 2:00 p.m. PT. Stockholders as of June 5, 2020, can join via an online platform, where they will have the ability to vote and ask questions. Proxy voting is encouraged ahead of the meeting, and detailed instructions are provided for both stockholders of record and beneficial owners.

Positive

• Transition to a virtual meeting format enhances safety for shareholders amid COVID-19.
• Stockholders can participate remotely, increasing accessibility.

Negative

• None.

PORTLAND, Ore., July 10, 2020 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) announced today a change in the format of its 2020 Annual Meeting of Stockholders (the "Annual Meeting") from in-person to a virtual-only meeting format due to the continuing public health impact of COVID-19 and to support the health and safety of the Company's stockholders and attendees. As previously announced, the Annual Meeting will be held on Thursday, July 30 at 2:00 p.m. Pacific Time ("PT").

Voting Electronically and Attending the Virtual Annual Meeting

The Company's stockholders as of the close of business on June 5, 2020 (the "Record Date") or their duly appointed proxies can join the live virtual meeting. Stockholders will be able to listen, vote and submit questions from any remote location with internet connectivity. If you were a stockholder of record as of the Record Date, to be admitted to the Annual Meeting at www.issuerdirect.com/virtual-event/east, and to vote your shares during the meeting or submit questions during the meeting, you must enter the control number found on your proxy card, voting instruction form or notice you previously received. Online access to the Annual Meeting will open at 1:45 p.m. PT to allow time for stockholders to log-in prior to the start of the Annual Meeting.  Stockholders of record may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting.

If you were a beneficial owner as of the Record Date of shares held in "street name" through a broker, bank or other nominee and you wish to attend the meeting and/or vote your shares during the meeting or submit questions during the meeting, you will need to provide proof of your authority to vote (legal proxy), which you must obtain from such nominee reflecting your holdings. You may forward an e-mail from your nominee or attach an image of your legal proxy and transmit it via e-mail to Issuer Direct at proxy@issuerdirect.com and you should label the e-mail "Legal Proxy" in the subject line. Requests for registration must be received by Issuer Direct no later than 12:00 a.m., PT, on July 28, 2020. You will then receive confirmation of your registration, with a control number by e-mail from Issuer Direct. At the time of the meeting, go to www.issuerdirect.com/virtual-event/east and enter the first 13 digits of your control number.

Proxy Information

Whether or not you plan to attend the Annual Meeting, we urge you to vote and submit your proxy in advance of the meeting by one of the methods described in the proxy materials for the Annual Meeting. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Annual Meeting. If you have previously submitted a proxy by one of the methods described in the proxy materials, you do not need to vote again unless you would like to change your vote.

The Company's 2020 proxy statement contains important information and this announcement should be read in conjunction with the 2020 proxy statement. The 2020 proxy statement and other relevant materials are available for free at the U.S. Securities & Exchange Commission's website (www.sec.gov) and at the Company's website under the investors tab (www.eastsidedistilling.com). Additionally, you may access the Company's proxy materials at www.proxyvote.com.

About Eastside Distilling

Eastside Distilling, Inc. (NASDAQ: EAST) has been producing high-quality, award-winning craft spirits in Portland, Oregon, since 2008. The Company is distinguished by its highly decorated product lineup that includes Redneck Riviera Whiskey with companion brands Granny Rich Reserve and Howdy Dew!, newly acquired Azuñia Tequilas, Burnside Whiskeys, Hue-Hue Coffee Rum, and Portland Potato Vodkas. All Eastside spirits are crafted from natural ingredients for quality and taste. Eastside's Craft Canning + Bottling subsidiary is one of the Northwest's leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.

Important Cautions Regarding Forward-Looking Statements

Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.

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SOURCE Eastside Distilling, Inc.

FAQ

What date is Eastside Distilling's virtual Annual Meeting scheduled for?

The virtual Annual Meeting of Eastside Distilling is scheduled for July 30, 2020, at 2:00 p.m. PT.

How can stockholders vote during Eastside Distilling's virtual meeting?

Stockholders can vote during the virtual meeting by logging in with their control number found on their proxy card or voting instruction form.

Why did Eastside Distilling change its Annual Meeting format to virtual?

Eastside Distilling changed its Annual Meeting format to virtual to ensure the health and safety of its stockholders due to the COVID-19 pandemic.

What is the record date for stockholders to participate in Eastside Distilling's meeting?

The record date for stockholders to participate in the meeting is June 5, 2020.

Where can I find more information about Eastside Distilling's Annual Meeting?

More information about Eastside Distilling's Annual Meeting can be found on their investor website and in the 2020 proxy statement available at the SEC's website.