EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 23, 2019, Nasdaq notified Eastside Distilling, Inc. (the “Company”) that as a result of the recent appointments of independent Directors Shawn Willard, Geoffrey Gwin, and Lawrence Firestone, the Company is in compliance with Nasdaq’s listing Rules and that the Nasdaq matter (reported in the Company’s Form 8-K dated August 19, 2019) has been closed.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Appointment of Lawrence Firestone to the Board

 

On September 19, 2019, the Company’s Board of Directors (the “Board”) appointed Lawrence Firestone to the Board, effective immediately, to serve until the Company’s 2020 Annual Meeting of Stockholders or until his successor is duly elected and qualified or until his earlier death, resignation or removal, whichever first occurs. Mr. Firestone was also appointed to be a member of and the Chair of the Audit Committee, and a member of the Nominating and Corporate Governance Committee and Compensation Committee.

Mr. Firestone is the Executive Vice President and Chief Financial Officer of Akonni Biosystems, Inc. and the Chairman of FirePower Technology, Inc. Mr. Firestone has over three decades of experience as the Chief Executive Officer, Chief Financial Officer, and Director of public and private companies. Mr. Firestone holds a Bachelor of Science in Business Administration, with an emphasis in accounting, from Slippery Rock University of Pennsylvania.

With the appointment of Mr. Firestone, the membership of the committees of the Company’s Board are as follows: Audit Committee: Lawrence Firestone (Chair), Paul Shoen, Shawn Willard, and Geoffrey Gwin; Compensation Committee: Geoffrey Gwin (Chair), Paul Shoen, Shawn Willard, and Lawrence Firestone; Nominating and Corporate Governance Committee: Shawn Willard (Chair), Paul Shoen, Geoffrey Gwin, and Lawrence Firestone.

Item 8.01 Other Events

On September 24, 2019, the Company issued a press release announcing it had appointed Mr. Firestone to the Board and that it had regained compliance with Nasdaq listing rules. 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 24, 2019

Eastside Distilling, Inc. Exhibit
EX-99.1 2 ex99-1.htm   Lawrence Firestone Joins Eastside Distilling’s Board of Directors   Company regains compliance with Nasdaq listing rules   PORTLAND,…
To view the full exhibit click here

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.