Global Gardens Group Announces Additions to Board of Directors and Advisory Board, Stock Option Grants and Warrant Extension
16 Dezember 2015 - 3:00PM
Global Gardens Group Inc. (the "Company")
(CSE:VGM) is pleased to announce that the Company has appointed
Nitin Kaushal to the Board of Directors and Praveen Varshney and
Paul Sun to the Board of Advisors of the Company.
Nitin Kaushal
Mr. Kaushal has over 25 years of financial and investment
experience across North America spanning a number of industries. He
is presently a Managing Director at PriceWaterhouseCoopers in the
corporate finance practice. Over the course of his career he has
worked in senior roles with a number of Canadian investment banks,
including Desjardins Securities Inc., Orion Securities Inc.,
Vengate Capital, HSBC Securities Inc. and Gordon Capital. He has
held roles within the private equity/venture capital industry at
MDS Capital Corp. In addition, Mr. Kaushal has sat on a number of
public and private company boards. He was awarded a Bachelor of
Science (Chemistry) from the University of Toronto and is a
Chartered Accountant. Mr. Kaushal is currently a director of
Patient Home Monitoring Corp., Convalo Health International,
Delivra Inc. and Shelby Ventures.
Praveen Varshney
Mr. Varshney, FCPA, FCA has been a principal of
Varshney Capital Corp., a Vancouver based merchant banking, venture
capital and corporate advisory services firm, since 1991. He has
many years of public market experience and is a director or officer
of various publicly traded companies including Canada Zinc Metals
Corp. and Mogo. Mr. Varshney is a very active angel
investor, is a Vancouver Social Venture Partner and on a number
of other non-profit boards. He is also a past recipient of
Business in Vancouver's 40 Under 40 Awards.
Paul Sun
Paul Sun has over 20 years of business
experience and has held numerous senior roles at investment banks
including Scotia Capital, Desjardins, and Beacon
Securities. Paul has provided financial solutions from
small start-ups to billion dollar market-cap companies and has been
involved in many transactions across the entire capital structure.
He has built an extensive investor network and is a trusted
advisor. He has also held project and operations management
positions at a number of private and publicly traded companies. He
was awarded his Bachelor of Applied Science and Engineering from
The University of Toronto and his Master of Business Administration
from the Schulich School of Business. He holds the Professional
Engineer and Certified Financial Analyst
designations. Paul is as passionate about the markets as
he is about health and well-being.
“We are excited to welcome all three executives
to our team,” says Rob Harrison, President and CEO of Global
Gardens Group. “Having the opportunity to attract such talented and
successful entrepreneurs really highlights the value of our product
and GGG’s growth opportunity. Mr. Kaushal, Mr. Varshney and Mr. Sun
each bring the necessary capital market and industry experience
that we need to take this company to the next level and I can’t be
happier to be working with them. Given their past successes, I
think our shareholders should be very happy with their involvement
and our outlook going forward. Although we’ve made some significant
strides in putting Veggemo on the shelves of some of the biggest
retailers in Canada, we are only at our infancy and look forward to
issuing more positive news and developments to our shareholders
over the coming quarters.”
Stock Option Grants and Warrant
Extension
The Company also announces that it has granted a
total of 775,000 incentive stock options under the Company's Stock
Option Plan to certain directors, officers, employees and
consultants of the Company. The options have a five year term and
are exercisable at a price of $0.25 per Class A common share for a
period of 5 years.
The Company also announces that the expiry date
of 400,000 warrants issued to Brian Isherwood on June 5, 2014 has
been extended to November 21, 2017. Each such warrant is
exercisable at a price of $0.35 per Class A common share.
About Veggemo
The Veggemo product line is the first and only
non-dairy beverage to originate from vegetables and is Global
Garden Group’s showcase product for the dairy-free industry. The
Dairy-free industry continues to witness dynamic growth led by the
development of plant-based food and beverages.
Driven by shifting consumer behavior Health
& Wellness food and beverage companies have become a popular
acquisition target for many multi-national corporations. Most
recently Vega, the provider of plant-based shakes and supplements,
was successfully sold to WhiteWave Foods for $550 million
representing a 5.5x revenue multiple.
About Global Gardens Group
Global Gardens Group is comprised of a highly
experienced management team and board that have provided senior
leadership to many consumer brands including: Neilson Dairy, Ben
& Jerry’s and Haagen Dazs ice cream, Gillette, P&G, Cadbury
Schweppes, Sunkist, Dole, Primo pasta and Lululemon.
For further information, please contact:
Investor Relations
Transcend Capital Inc.
Etienne Moshevich
T: 604.681.0084
E: et@transcendcapitalinc.com
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