Global Diversified Marketing Group Appoints Independent Board of Directors in Preparation for Future NASDAQ Listing

Rhea-AI Summary

Global Diversified Marketing Group Inc. (GDMK) announced plans to up-list its stock to NASDAQ by forming an Independent Board of Directors. This initiative is a crucial step towards meeting NASDAQ's listing requirements. The new board includes experienced professionals such as James Donegan, Michael Cascione, Sr., Sandi Williams, and David Natan, who bring extensive backgrounds in sales, marketing, and finance. CEO Paul Adler expressed confidence that this move will enhance the company's profile and attract more institutional investors, aligning with the ongoing success in its snack food business.

Positive

• Formation of an Independent Board of Directors to support business growth.
• New board members possess extensive industry experience and leadership skills.
• Potential NASDAQ listing could increase company visibility and investor interest.

Negative

• Concerns about the challenges of meeting NASDAQ's stringent listing requirements.

Appointment of Independent Board of Directors is a First Step Towards Up-Listing to NASDAQ 2021

ISLAND PARK, N.Y., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Global Diversified Marketing Group Inc. (OTC: GDMK) has begun working towards an intended up-listing of the company stock to the NASDAQ market system at some point in 2021. In preparation for meeting the higher requirements and standards of NASDAQ, Global Diversified Marketing Group is now assembling the pieces which will be needed, the first of which is an Independent Board of Directors. At this time, GDMK management is pleased to announce the following new Board Members have been added, all of whom are professionally qualified to assist the company in its business growth and fulfill the NASDAQ listing requirements.

James Donegan

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46b35b3f-076e-4c09-8d0f-3960e37824de

Beginning his career with Procter & Gamble and PepsiCo, Mr. Donegan offers a 30 plus-year track record of accomplishment as a Sales and Marketing executive in the food industry. As VP of Sales and Marketing at Denver-based VICORP Restaurants, Mr. Donegan pioneered a new division, building a $20M business in 4 years. Additional roles have included as Senior VP Sales and Marketing at Phoenix-based Café Valley Bakery, Northeast Sales Manager at Ragu Foods/Unilever and National Sales Manager at New Jersey-based McCain Ellio’s Pizza Company. He also served as VP Sales and Marketing for Cereform USA, a food ingredient company that was based in Denver.

Michael Cascione, Sr., President of CC Vending, Inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/404e23d6-4c17-4731-9919-0c5daf225a5e

Michael Cascione, Sr. (“Mike”) is the founder and president of Group C, whose various companies provide Pantry, Micro Markets, Coffee and Vending services.

Mike’s original startup, CC Vending (CCV), began in 1989 was with a single beverage machine. CCV has subsequently grown into one of the largest vending companies on the East Coast, servicing over 15,000 machines, while managing the operations of several other companies throughout four states.

Mike credits his early embrace and investment in technology as one of the keys to his and the company’s success. CCV currently develops new technology for Micro-Markets and creates healthy products for the K-12 market, where it services the nation’s largest public school system, the NYC Department of Education. In addition, Group C’s Metropolitan Coffee House roasts and packages its own coffee for OCS accounts throughout the tri-state area.

Mike continues to guide Group C’s expansion in both technology and geography; committing resources to R&D, as well corporate acquisition. He is a lifelong advocate for innovation in the vending industry and continues to fulfill his goal of establishing its leading technology firm.

Sandi Williams

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd85b7ba-432e-4b43-851c-48e490b50bc1

Has had an over 40 year career in many aspects of retail, including buying, selling and design. She spent 24 years at Frugal Fannie’s Fashion Warehouse. As a buyer, merchandise manager and vice president she was responsible for all merchandise. She also managed two private label programs, one domestic and one import.

She has spent 17 years as a buyer for TJX Corporation buying for Marshalls and TJMaxx. She was responsible for buying ladies outwear, ladies activewear, swimwear and multiple categories in the shelf stable food area.

Ms. Williams is a consultant to a New York City sportswear and dress manufacturer. She is responsible for working with the designers and creating 6 new collection a year. She also volunteers to mentor college students in the fashion program at a Framingham State University. She helps students interviewing, networking, capstone projects and class presentations.

David Natan, Financial Consultant

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d0e92ae8-dc05-40a0-9b6a-4a1777ecf7a0

David Natan is a 1975 graduate of Boston University where he majored in accounting and economics. In 1975, Mr. Natan was elected to Economics National Honor Society. Mr. Natan has public and private company experience, as well as Big Four accounting experience at Deloitte Touche. During his career he has served as Chief Financial Officer for five listed public companies. Since December 2007, he has been President and CEO of Natan & Associates, a consulting firm offering interim CFO services to numerous public and private companies, in a variety of industries.

Mr. Natan has extensive C level experience in the areas of distribution, manufacturing, retailing, emerging technologies, pharmaceuticals, SEC compliance, treasury, corporate finance, tax and operations, both domestically and internationally. During his career he has participated in over 25+ merger and acquisition transactions, and, has participated in the raising of over $400M in debt and equity financing on favorable terms.

Paul Adler, CEO of Global Diversified Marketing Group, commented, “I enthusiastically welcome the new members of our Independent Board of Directors. I am sure they will all make great contributions and also help us achieve our objective of NASDAQ up-listing. The potential NASDAQ listing will reflect the continued sales growth and consumer market penetration that is resulting from strong success of the company’s premium snack foods lines across multiple market sectors. An up-listing to NASDAQ for GDMK will increase awareness of the company within the financial investment community and among institutional investors as well as elevate the company’s overall profile.”

For more information on Global Diversified Marketing Group (GDMK) Please visit us at: www.360worldsnacks.com and www.gdmginc.com

About Global Diversified Marketing Group

Headquartered in Island Park, NY - Global Diversified Marketing Group Inc operates as a global multi-line consumer packaged goods (“CPG”) company with branded product lines and is a food and snack manufacturer, importer and distributor in the United States, Canada, and Europe. The Company operates in the snacks market segment and offers Italian Wafers, Italian filled Croissants, French Madeleines, Wafer Pralines, shelf-stable Macarons, and other gourmet snacks. The company sells its products directly through various distribution channels comprising specialty, grocery retailers, food-service distributors, direct store delivery (“DSD”) as well as the vending, pantry, and the micro-market segment.

Safe Harbor Statement

Certain statements in this announcement are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, by their nature, are inherently uncertain and outside of the Company's control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, information concerning the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Those assumptions and factors are based on information currently available to the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to develop the Company's brand and meet its growth objectives, the ability of the Company to complete acquisitions that are accretive to the Company's revenue, the ability of the Company to obtain and/or maintain licenses to operate in the jurisdictions in which it operates or in which it expects or plans to operate. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The forward-looking information contained in this release is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-looking information that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

The foregoing statements expressly qualify any forward-looking information contained herein. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Contact:

Global Diversified Marketing Group Inc

Paul Adler, Chairman, President & CEO

800-550-5996

paul@gdmginc.com

FAQ

What is the significance of GDMK's new Independent Board of Directors?

The new Independent Board of Directors is crucial for GDMK's strategy to meet NASDAQ listing requirements, enhancing corporate governance and expertise.

Who are the newly appointed board members of GDMK?

The new board members include James Donegan, Michael Cascione, Sr., Sandi Williams, and David Natan, all of whom have significant experience in their respective fields.

When does GDMK plan to up-list its stock to NASDAQ?

GDMK aims to achieve its NASDAQ up-listing at some point in 2021 as part of its ongoing business development strategy.

What potential benefits does GDMK anticipate from the NASDAQ listing?

GDMK expects the NASDAQ listing will enhance its visibility in the financial community, attract institutional investors, and reflect ongoing growth in its snack food lines.