EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Appointment of Shawn Willard and Geoffrey Gwin to the Board

On August 27, 2019, the Board of Directors (the “Board”) of Eastside Distilling, Inc. (the “Company”) appointed Shawn Willard and Geoffrey Gwin to the Board, effective immediately, to serve until the Company’s 2020 Annual Meeting of Stockholders or until his respective successor is duly elected and qualified or until his earlier death, resignation or removal, whichever first occurs.  Mr. Willard was also appointed to the audit committee as well as the the corporate governance committee. Mr. Gwin was appointed to the compensation committee as well as the audit and corporate governance committees.

Shawn Willard founded Orca Investment Management (“Orca”) in 2006 (then known as Cygnus Capital). Orca currently owns approximately 7.0% of the Company’s common stock. Previously, Mr. Willard was a Vice President focused on corporate finance opportunities with West Coast-based companies in high-technology industries, including storage networking, thin film technologies and EMS for Needham & Company (“Needham”), a prominent emerging market investment bank. Prior to his employment at Needham, Mr. Willard was a portfolio manager and equity research analyst with various investment firms, including Black & Company, Charter Investment Group, and Capital Consultants. Mr. Willard graduated from Portland State University with a bachelor’s degree in business administration in 1992.

Geoffrey Gwin is currently a member of Quad Capital Management Advisors, LLC (“Quad”) and the managing member of Group G Capital Partners, LLC (“Group G”). Collectively, Quad and Group G own approximately 7.2% of the Company’s common stock. Mr. Gwin is the Chairman of the Board of Directors of SMArtX Advisory Solutions, Inc., a private company offering technology solutions to wealth advisors, RIA’s and other financial services firms. He formed Group G in 2003 and has continuously managed its related strategies as its Chief Investment Officer. Mr. Gwin has held positions at Symphony Asset Management, BHF-BANK Aktiengesellschaft, and Citibank, Inc. over the last two decades. Mr. Gwin holds a Bachelor of Science in Business from Wake Forest University and is a Charter Financial Analyst.

Existing director, Paul Shoen, was appointed a member of both the audit committee and corporate governance committee. Director, Owen Lingley, was appointed to the compensation committee.

Item 8.01 Other Events

On September 3, 2019, the Company issued a press release announcing the appointment of Messrs. Willard and Gwin to the Board. A copy of the press release is attached hereto and furnished as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated September 3, 2019


Eastside Distilling, Inc. Exhibit
EX-99.1 2 ex99-1.htm   Shawn Willard and Geoffrey Gwin Join Eastside Distilling’s Board of Directors   PORTLAND,…
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About EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI)

Eastside Distilling, Inc. (Eastside) is a manufacturer, developer, producer and marketer of master-crafted spirits. The Company’s beverage alcohol categories include bourbon, whiskey, rum and vodka. The Company operates through the marketing and distributing of hand-crafted spirits segment. Its brands include Burnside Bourbon, Burnside Oregon Oaked Bourbon, Barrel Hitch American Whiskey, Barrel Hitch Oregon Oak American Whiskey, Below Deck Silver Rum, Below Deck Ginger Rum, Below Deck Coffee Rum, Below Deck Spiced Rum, Portland Potato Vodka, Marionberry Whiskey and Cherry Bomb Whiskey. Eastside creates seasonal and limited edition handmade products, such as Advocaat (eggnog) Liqueur, Peppermint Bark Liqueur, Bier Schnapps and Holiday Spiced Liqueur. Eastside distributes its products in approximately 15 states, including Oregon, Washington, Nevada, Texas, Virginia, Indiana, Illinois, New York, New Jersey, Massachusetts, Connecticut, Minnesota, Georgia, Pennsylvania and Maryland.

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