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Second Cup Announces Amendment to Investment Agreement
Second Cup Announces Amendment to Investment Agreement Canada NewsWire MISSISSAU...
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[{"type":"text","content":"\n\n\n\nSecond Cup Announces Amendment to Investment Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Aug. 9, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, Aug. 9, 2019 /CNW/ - The Second Cup Ltd. (\"Second Cup\" or the \"Company\") (TSX: SCU) announced today that it has amended the previously-disclosed Investment Agreement, dated July 31, 2017, with (among others) four separate holding companies controlled by Michael Serruya, Aaron Serruya, Jacques Serruya and Simon Serruya (collectively, the \"Investors\").  The amendment deletes the provision of the Investment Agreement granting the Investors' representative the right to designate two nominees for director of the Company for so long as any Investor (or the Investors collectively) owns 20% of the Corporation's common shares and one nominee if the Investors' collective ownership is below 20% but is greater than or equal to 10%. Michael Serruya and Aaron Serruya were designated as nominees, both of whom are currently serving on the Corporation's board of directors.  Second Cup does not expect the amendment of the Investment Agreement to result in any changes to the current composition of its board of directors.     \nAbout Second Cup Coffee Co.™Founded in 1975, The Second Cup Ltd. is a Canadian specialty coffee retailer operating franchised and company owned cafes across Canada.  For more information, please visit www.secondcup.com or find the Company on Facebook and Twitter. \nAdditional information regarding Second Cup including required securities filings are available on our website at www.secondcup.com and on the Canadian Securities Administrators' website at www.sedar.com; the System for Electronic Document Analysis and Retrieval.\nFORWARD LOOKING STATEMENTS \nThis press release may contain forward-looking information that represents internal expectations, estimates or beliefs concerning, among other ...