Creative Learning Corporation Announces Change in Board of Directors
ST. AUGUSTINE, Fla., July 13, 2017 /PRNewswire/ -- On July 6, 2017, Blake Furlow delivered to Creative Learning Corporation ("CLC") (OTC: CLCN) the written consents of nine shareholders, representing approximately 6,207,509 shares of CLCN common stock, or 51.7% of CLCN shares issued and outstanding. On July 8, 2017, CLC validated the written consents of these shareholders and certified their vote. As a result of this vote, Blake Furlow, Gary Herman, and Bart Mitchell have been added as new members of the Board of Directors, joining existing members, Joseph Marucci and JoyAnn Kenny-Charlton, and replacing Charles Grant and Michael Gorin.
"Our shareholders have sent the message that they're ready to move in a new direction," said Blake Furlow. "We are focused on providing outstanding support to our franchisees, the life blood of this company. We will begin by conducting a strategic and operational review of the business and then developing and implementing a plan to enhance the franchisee experience."
The new members believe that with their addition, the refreshed Board, reflecting a diversity of experiences, expertise and perspectives, will support the Company in achieving its goals of improved operating efficiency and a return to profitability.
JoyAnn Kenny-Charlton stated: "I wish to sincerely thank Chuck Grant and Michael Gorin for their unwavering dedication, service and contributions to the Company through a challenging phase. I look forward to working with the new Board members in ensuring a smooth transition and concentrating our energies and efforts on strengthening, and responsibly expanding, the Bricks 4 Kidz® and Sew Fun® brands, including through improved operational efficiencies and CLC team support. Healthy, sustainable franchise systems yield increased brand strength, profitability and shareholder value."
Karla Kretsch, CLC President and Chief Operating Officer, added, "I am excited to partner with the Board and Franchisees to develop and implement new initiatives focused on strengthening the franchisee support system, operational processes and tools, sales and marketing. We all share the vision of growing the business through innovation and continual improvement of our highly recognized STEM educational programs."
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements contained herein, including without limitation, statements addressing the believes, plans, objectives, estimates or expectations of the Company or future results or events constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known or unknown risks, including, but not limited to, general economic and business conditions, and conditions in the educational franchising industry. There can be no assurance that the actual future results, performance, or achievements expressed or implied by such forward-looking statements will occur. We caution investors and all others not to place undue reliance on such forward-looking statements. Investors are encouraged to review the Company's latest annual report on Form 10-K, its filings on Form 10-Q, management's discussion and analysis in the Company's latest annual report to shareholders, the Company's filings on Form 8-K, and other federal securities law filings for a description of other important factors that may affect the Company's business, results of operations and financial condition All forward-looking statements made or attributable to us are expressly qualified in their entirety by this notice. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that projected results expressed or implied in such statements will not be realized.
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SOURCE Creative Learning Corporation
