Eastside Distilling, Inc. Announces Cancellation of Special Meeting of Stockholders
Eastside Distilling (NASDAQ: EAST) announced the cancellation of its Special Meeting of Stockholders scheduled for March 4, 2022, due to insufficient proxies and likely lack of quorum. The agenda will be presented for approval at the upcoming 2022 Annual Meeting, with details to be announced later. Eastside specializes in high-quality craft spirits, operating since 2008 in Portland, Oregon, producing well-known brands like Azuñia Tequilas and Burnside Whiskeys. The Company emphasizes natural ingredients and has a significant presence in ready-to-drink canned beverages.
- Strong brand recognition with products like Azuñia Tequilas and Burnside Whiskeys.
- Established presence in the ready-to-drink beverage market, enhancing growth potential.
- Cancellation of the Special Meeting may indicate governance or shareholder engagement issues.
- Insufficient proxies suggest potential disinterest or lack of support from shareholders.
PORTLAND, Ore., March 4, 2022 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) ("Eastside" or the "Company"), a consumer-focused beverage company that builds craft inspired experiential brands and high-quality artisan products around premium spirits and ready-to-drink "RTD" craft cocktails, announced that it will cancel the Special Meeting of Stockholders scheduled to be held today March 4, 2022 at 2:00pm Pacific Time (the "Special Meeting") due to its receipt of insufficient proxies and a probable lack of the required quorum. A quorum consists of a majority of the shares entitled to vote. The proposal will instead be submitted to the Company's stockholders for approval at the Company's 2022 Annual Meeting of Stockholders. The Company will announce the date of the Annual Meeting once it is determined by its Board of Directors.
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 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 ready-to-drink canners.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements that reflect our expectations or anticipations rather than historical fact. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the impact of COVID-19 and related business disruption, the Company's ongoing financing requirements and ability to achieve financing, 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 other risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). A detailed discussion of the most significant risks can be found in the "Risk Factors" section of the Company's Annual Report on Form 10-K. The Company assumes no obligation to update the cautionary information in this press release.
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SOURCE Eastside Distilling, Inc.
FAQ
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