On February 29, 2020, Mark R. Holcombe resigned as a director of the Company. Mr. Holcombe will continue to provide business advisory services to the Company, to his agreement with the Company. On March 1, 2020, the Company’s Board of Directors appointed Richard Russell to serve on the Company’s Board of Directors, to serve in such capacity until the next annual meeting of stockholders of the Company, subject to earlier resignation or removal.
In connection with his appointment, the Company’s Board of Directors determined that Mr. Russell would meet the requirements of an “independent director” under the Nasdaq Stock Market’s corporate governance rules. Accordingly, the Board of Directors has designated Mr. Russell an “independent director” for corporate governance purposes. The Company intends to expand its Board of Directors and appoint additional “independent directors,” with the objective of enhancing corporate governance.
The compensation of Mr. Russell for serving on the Company’s Board of Directors will be determined at a later date, at which time the Company will file a Form 8-K Current Report as required.
Since November 2017, Mr. Russell has served as Chief Financial Officer of LM Funding America, Inc., a Florida based Nasdaq listed technology-based specialty finance company offering unique funding solutions to community associations. Since December 2019, Mr. Russell has served as Chief Financial Officer of Generation Income Properties Inc., a Florida based real estate investment company quoted on the OTCQB. Since August 2016, Mr. Russell has been a Board Member of the Hillsborough County Internal Audit Commission, of which he was appointed Chairman in January 2020. From September 2013 to December 2016, Mr. Russell served as Chief Financial Officer of Mission Health Communities, a skilled nursing company with 32 skilled and assisted living facilities in Florida. From 2007 – 2013, Mr. Russell was the Sr. Director Corp. Finance – Sr. Director – Head of Internal Audit – Assistant Corporate Controller of Cott Corporation, a large public international manufacturing beverage company headquartered in Florida.
About Trident Brands Incorporated (OTCMKTS:TDNT)
Trident Brands Incorporated is focused on branded consumer products and food ingredients. The Company maintains a portfolio of branded consumer products, including nutritional products and supplements under the Everlast and Brain Armor brands, and functional food ingredients under the Oceans Omega brand. The Company’s brands are focused on the supplements and nutritional product, and heart and brain health categories. The Company’s subsidiaries include Trident Brands Canada Ltd., Sports Nutrition Product Inc. and Brain Armor Inc. Trident Brands Canada Ltd. holds various banking facilities. Sports Nutrition Product Inc. holds the license to market and sell products in the nutritional foods and supplements categories under the Everlast brand. The Brain Armor product is a plant-based docosahexaenoic acid (DHA) supplement designed specifically for the needs of athletes. Its products under the Oceans Omega brand have application as a functional food ingredient.
