Rocky Mountain Chocolate Factory Announces Retirement of Franklin Crail, Board Member


DURANGO, CO / ACCESSWIRE / August 9, 2021 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) (the “Company”), a global confectionery manufacturer, international franchisor and retail operator that delights consumers with a premium gourmet chocolate, confectionery offering and self-serve frozen yogurt, today announced the retirement of Franklin “Frank” Crail from the company’s board of directors.

As co-founder of RMCF, Mr. Crail was instrumental in transforming the company into the global confectionery leader it is today. From 1982 to 2019, he was President and CEO of RMCF and from 1986 to 2019 Chairman of the Board of Directors. Mr. Crail will not stand for re-election as a director of the board and will retire as a director of the board of directors of RMCF upon the appointment by the company of a successor independent director.

“Frank’s vision and leadership have been instrumental in the growth of the RMCF brand around the world and to the delight of millions of customers,” said Rahul Mewawalla, Chairman of the Board of Directors of RMCF. “Frank has demonstrated a remarkable commitment to the employees, franchisees and customers of RMCF and we are grateful for the legacy he has created. On behalf of RMCF, I would like to express our deep gratitude to Frank. It has been a personal privilege and honor for me to know Frank and I know our entire RMCF organization joins me in wishing Frank the best and our thanks for many years of inspiring leadership, ”added Mr. Mewawalla.

“Being part of the creation of Rocky Mountain Chocolate Factory and seeing it grow from our first store on Main Street in Durango to the international brand it is today was the trip of a lifetime,” said Mr. Crail. . “It has been an honor and a privilege to serve this company for 40 years alongside such an amazing group of talented people who make up our staff, our wonderful group of franchisees who have embodied our vision, and every shareholder who believes like us. how great chocolate can make the world sweeter. My experience at Rocky Mountain Chocolate Factory will forever fill me with joy and, as a significant shareholder, I have full confidence in the board of directors and leadership to lead the company into its next chapter of growth. and success. ”

About Rocky Mountain Chocolate Factory, Inc.

Rocky Mountain Chocolate Factory, Inc., headquartered in Durango, Colorado, is an international franchisor of self-serve gourmet chocolate, confectionery, and frozen yogurt stores and a manufacturer of an extensive line of premium chocolates. range and other confectionery products. The Company, its subsidiaries and its franchisees and licensees operate more than 300 Rocky Mountain Chocolate Factory and self-service frozen yogurt stores in the United States, South Korea, Qatar, Republic of Panama and Republic of from the Philippines. The Company’s common shares are listed on the Nasdaq Global Market under the symbol “RMCF”.

Forward-looking statements

This press release includes statements about the Company’s expectations, intentions, plans and beliefs that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to fall within the safe harbor protection provided by those sections. These forward-looking statements involve various risks and uncertainties. The nature of the Company’s operations and the environment in which it operates subjects it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. Statements, other than statements of historical fact, included in this press release are forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “will”, “intend”, “believe”, “expect”, “anticipate”, “should “,” “Plan”, “estimate”, “potential” or similar expressions. Factors that could cause differences in results include, but are not limited to: the impact of the COVID-19 pandemic and conditions global economic impact on the Company’s business, including, but not limited to, online sales, factory sales, retail sales and royalties and marketing fees, Company liquidity, cost reduction measures and preservation of the Company’s capital, the realization of the anticipated potential benefits of the strategic alliance with Edible Arrangements®, LLC and its affiliates (“Edible”), the ability to supply products to Edible as part of the strategy alliance, the capaci edible to increase the Company’s online sales, changes in the confectionery business environment, seasonality, consumer interest in the Company’s products, general economic conditions, the success of the the Company’s frozen yogurt business, the Company’s international product responsiveness, consumer and retail trends, raw material costs and availability, competition, Company co-branding success strategy, success international expansion efforts and the effect of government regulations. Government regulations to which the Company and its franchisees and licensees are or may be subject that could cause results to differ from forward-looking statements include, but are not limited to: local, state and federal laws relating to health, sanitation, safety, building and fire codes, franchising, licensing, employment, manufacturing, packaging and distribution of food products and highway carriers. For a detailed discussion of the risks and uncertainties that may cause the Company’s actual results to differ from the forward-looking statements contained in this document, please see “Risk Factors” contained in Section 1A. of the Company’s annual report on Form 10-K for the fiscal year ended February 28, 2021, as amended. Additional factors that could cause such differences include, but are not limited to: the duration and severity of the current COVID-19 pandemic and its effects on, among others, factory sales, retail sales, royalties and fees and marketing operations, the effect of any government action or employer-paid benefits mandated in response to the COVID-19 pandemic, and the Company’s ability to manage costs and reduce expenses and the availability of additional funding if and when needed. These forward-looking statements speak only as of the date hereof. As such, they should not be unduly relied on for more current circumstances. Except as required by law, the Company does not undertake to publicly release any revisions to these forward-looking statements which could reflect events or circumstances occurring after the date of this press release or those which could reflect the occurrence of unforeseen events.

Important additional information and where to find it

The Company intends to file a proxy statement on Schedule 14A, an accompanying proxy card and other relevant documents with the Securities and Exchange Commission (the “SEC”) in connection with this solicitation. of proxies for RMCF shareholders for the 2021 Annual Meeting of Shareholders of the Company. . SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE COMPANY’S FINAL PROXY STATEMENT (INCLUDING ANY CHANGES OR ADDITIONS) AND ALL OTHER DOCUMENTS FILED WITH THE SEC. Investors and shareholders may obtain a copy of the final proxy statement, a proxy card, any amendment or supplement to the final proxy statement and other documents filed by the Company with the SEC free of charge from the website of the SEC at . Copies will also be available free of charge in the “SEC Filings” section of the Company’s investor relations website at or by contacting the investor relations department. of the Company at (970) 375-5678. , as soon as reasonably practicable after such documents have been electronically filed with or provided to the SEC.

Certain information about the participants in the solicitation

The Company, its directors and certain of its executive officers participate in the solicitation of proxies from shareholders in connection with matters to be considered at the 2021 Annual Meeting of Shareholders of the Company. Information regarding the direct and indirect interests, by title or otherwise, of the directors and officers of the Company, in the Company is included in its proxy statement in Appendix 14A for its 2020 annual meeting of shareholders, filed with the SEC on August 13. 2020, the Company’s annual report on Form 10-K for the fiscal year ended February 28, 2021, filed with the SEC on June 1, 2021, as amended by amendment # 1 on Form 10-K / Filed with the SEC on June 28, 2021 and in the company’s current reports on Form 8-K filed with the SEC from time to time. Changes in the direct or indirect interests of directors and officers of the Company are set out in filings with the SEC on Initial Statements of Beneficial Ownership on Form 3, Statements of Change of Ownership on Form 4, and Statements annual changes of beneficial ownership on Form 5. These documents are available free of charge as described above. Updated information regarding the identity of potential participants and their direct or indirect interests, by title or otherwise, in the Company will be presented in the proxy statement for the 2021 Annual Meeting of Shareholders of the Company and in other relevant documents to file with the SEC, if and when they become available.

Media contacts:

Kendell Moore / Jake Yanulis
Abernathy Mac Gregor
[email protected]
(212) 371-5999

Investor contact:

William P. Fiske
Georgeson SARL
(212) 440-9128

THE SOURCE: Rocky Mountain Chocolate Factory, Inc.

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