EMERGE Announces Voting Results From 2021 Annual Meeting of Shareholders and Stock Option Grant

TORONTO, June 22, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified, rapidly growing acquirer and operator of direct-to-consumer ("D2C") e-commerce brands, announced results of the matters voted upon at the Company's Annual General and Special Meeting (the "Meeting") of the shareholders of the Company (the "Shareholders") held on June 21, 2021.   

A total of 20,321,848 common shares of the Company ("Common Shares") represented by Shareholders present or represented by proxy at the Meeting were voted, representing 22.7% of the Company's issued and outstanding Common Shares.

All six of the individuals nominated for the board, all of whom previously served as directors of the Company, were elected as directors:

• Drew Green
• Ghassan Halazon
• John Kim
• Kia Besharat
• Nima Besharat
• Jonson Sun

At the Meeting MNP LLP was re-appointed as auditor of the Company. Disinterested Shareholders approved an ordinary resolution approving EMERGE's Stock Option Plan and grant of options. The RSU Plan and grant of RSU's was not approved by disinterested Shareholders represented at the Meeting. The RSU Plan and 4,104,000 outstanding RSU's have subsequently been cancelled.

The Company also announces that it has granted under its Stock Option Plan, 1,040,000 incentive stock options to employees and consultants (no officers or directors of the Company received any stock options as part of this grant). The incentive stock options have an exercise price of $0.92 per share, are valid for a 5-year period from the date of grant and vest over a period of 48 months. As a result of this grant, the Company has 10,357,723 stock options issued and outstanding.

About EMERGE

EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of direct-to-consumer e-commerce brands. Our network of e-commerce sites provides our members with access to groceries, golf, nearby escapes, and family offers. Our portfolio houses some of Canada's most coveted online destinations including trulocal.ca, UnderPar.com, WagJag.com, JustGolfStuff.ca, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.

To learn more visit https://www.emerge-commerce.com/

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 release.

SOURCE EMERGE Commerce Ltd.

James Bowen, CFA, EMERGE Commerce Ltd., 416-519-9442, [email protected]