PORTLAND, OR--(Marketwired - Jul 25, 2016) - Eastside Distilling, Inc. (OTCQB: ESDI), a producer of award-winning master-crafted spirits, has appointed Grover Wickersham as chairman of the company's board of directors.
Mr. Wickersham is a private investor, member of the California State Bar, and a portfolio advisor to Glenbrook Capital, a fund that invests primarily in emerging growth companies. A resident of London, England, and Portland, Oregon, he serves as the Vice Chairman of S&W Seed Company ("SANW") and was Chairman from October 2009, leading its IPO in May 2010. During his tenure, sales of S&W grew from $6 million to approximately $95 million. Since December of 2015, Mr. Wickersham has also served as Vice Chairman of SenesTech, a developer of a non-lethal pest control technology and as a Director of Verseon Corporation ("VRSN"), a U.S. company listed in London that uses "computational chemistry" to discover and develop new pharmaceuticals. From 1996 to July 2016, he was Chairman of Purisima Fund, a $400 million mutual fund advised by Ken Fisher and Fisher Investments. Mr. Wickersham is a former Staff Attorney and a Branch Chief of the U.S. Securities and Exchange Commission. A practicing securities lawyer for many years, he worked on financings for numerous blue-chip companies, including Genentech, Cree, and U-Haul. Mr.Wickersham holds an A.B. from the Univ. of Calif. (Berkeley), an MBA from Harvard Business School and a J.D. from the Univ. of Calif. (Hastings). He also is a member of the Board of Trustees of Hastings Law School.
Steven Earles, president and CEO of Eastside Distilling, commented: "I'm delighted to welcome Grover to our board as our new chairman. He has deep roots in Oregon, and has worked as a securities counsel for many public offerings with Oregon connections. We expect that Grover's career experience in business, corporate finance and law will serve the company well in the coming years, and we believe he will be a valuable partner as Eastside further develops its financial strategy to capitalize on the many opportunities ahead."
Mr. Wickersham said: "I am honored that Steven Earles has asked me to join the board and be part of the great Eastside team that he, CFO Steve Shum, and Master Distiller Melissa Heim have assembled. Not only do I love Eastside's amazing spirits, I have made a home in Portland for more than 25 years and look forward to contributing to the growth of a local business. I know Eastside will continue to be an enduring part of the Portland community as it expands its national and international presence."
As Chairman, Mr. Wickersham succeeds Mr. Earles, who continues to serve as CEO and President, as well a member of the board of directors.
About Eastside Distilling
Eastside Distilling, Inc. (OTCQB: ESDI) is located in Southeast Portland's Distillery Row, and has been producing high-quality, master crafted spirits since 2008. Makers of award winning spirits, the company is unique in the marketplace and distinguished by its highly decorated product lineup that includes Barrel Hitch American Whiskies, Burnside Bourbon, Below Deck Rums, Portland Potato Vodka, and a distinctive line of infused whiskeys. All Eastside spirits are master crafted from natural ingredients for unparalleled quality and taste. The company is publicly traded under the symbol OTCQB: ESDI. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.