On January 24, 2017, the Board appointed Mr. Charlie Huy La as a member of the Board, a member and the Chairman of the Board’s Nominating and Corporate Governance Committee, and a member of the Board’s Audit and Compensation Committees, in each case effective as of January 27, 2017, to serve until his successor has been duly elected and qualified. Since May 2015, Mr. La, age 41, has served as a managing member of Grand Pinnacle Investment LLC, an investment company specializing in real estate investment and management. Mr. La has also served since November 2008 as the human resource information system lead at Reliance Steel and Aluminum Co., a Fortune 500 company and the largest metals service center in North America. Mr. La holds a bachelor degree in management information systems from La Salle University, which he received in July 1999. The Board believes that Mr. La’s expertise and knowledge of investment, management, human resource systems and payroll operation will benefit the Company’s operations and make him a valuable member of the Board and its committees.

There are no arrangements or understandings between Mr. La and any other person to which Mr. La was appointed as a director of the Company. In addition, there is no family relationship between Mr. La and any director or executive officer of the Company.

Based on its investigation, the Board determined that Mr. La is an “independent director” under Rule 10A-3 promulgated under the Securities Exchange Act of 1934, as amended, and as defined by NASDAQ Rule 5605(a)(2). The Board also determined that, based on its review, Mr. La qualifies as a “Non-Employee Director” as defined by Rule 16b-3 under the Securities Exchange Act of 1934, as amended, and an “outside director” under Section 162(m) of the Internal Revenue Code and related regulations.

About NOVA LIFESTYLE, INC. (NASDAQ:NVFY)

Nova LifeStyle, Inc. is a manufacturer of contemporary styled residential furniture incorporated into a marketing and sales platform offering retail, as well as online selection. The Company operates through the design, manufacture and sale of furniture segment. The Company monitors trending and work to create design elements that are then integrated into its product lines that can be used as standalone, as well as whole room and home furnishing solutions. Through its global network, the Company also sells (through a third-party manufacturing partner) a range of bedding foundation components. Its LifeStyle brand family includes Diamond Sofa (www.diamondsofa.com), Colorful World, Giorgio Mobili and Bright Swallow International Group Limited (Bright Swallow). The Company’s customers principally consist of distributors and retailers having a specific geographic coverage that deploy middle to high-end private label home furnishings.

NOVA LIFESTYLE, INC. (NASDAQ:NVFY) Recent Trading Information

NOVA LIFESTYLE, INC. (NASDAQ:NVFY) closed its last trading session up +0.01 at 1.73 with 44,281 shares trading hands.