Evercel Reminds Shareholders of Their Final Chance to Vote Ahead of the Annual Meeting

MIAMI, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Evercel, Inc. [OTC Pink: EVRC] (the “Company”) today sent the following letter to shareholders from its Board of Directors in advance of its Annual Meeting on October 7, 2021, urging them to vote on the WHITE proxy card in support of the Board’s two unopposed candidates, Richard Perkins and Patrick McGeehin. The text of the letter is below:

Dear Valued Shareholders:

Evercel’s Annual Meeting is just days away and time is running out for you to make your voice heard. This is your final opportunity to vote on the WHITE card at the Company’s upcoming annual meeting. Please return the enclosed official WHITE Evercel proxy card to vote at the upcoming annual meeting. You can also use the instructions on your card to cast your vote online or by calling the toll-free voting line.

Evercel’s current leadership has numerous initiatives under way that we believe will drive meaningful share price appreciation and propel Evercel into an exciting and promising future. We believe shareholders should continue to move forward on a path of value creation and support the Board’s nominees, Richard Perkins and Patrick McGeehin, on the WHITE card. But even if you do not support the Company’s nominees, you can make your voice heard by voting against them on the WHITE card.

Do not be fooled by former Chairman Jim Gerson’s misleading statements in his campaign to pack the Board with additional directors who are loyal to him, which we believe will lead to value destruction and the potential departure of management, leaving Evercel with no path forward to source or manage new investments. AMAZINGLY, in his latest communication, Mr. Gerson claims he does not seek to remove the current CEO, despite his relentless array of criticism. This highly dubious claim demonstrates that Mr. Gerson will say ANYTHING to get your vote and simply cannot be believed. Further – even if he were telling the truth – Mr. Gerson’s proposal that you vote for a sharply divided board and management team makes no sense and clearly is NOT a recipe for value creation at Evercel. Shareholders should not let that happen and VOTE THE WHITE CARD FOR THE COMPANY’S NOMINEES!

Similarly disingenuous is Mr. Gerson’s claims of disenfranchisement: HE is the one seeking disproportionate representation of 4 of 9 board seats (3 nominees plus Mr. Krantz) given his 12% ownership. The simple fact is that Mr. Gerson’s involvement has been an impediment for value creation: since the announcement of Mr. Gerson’s forced departure, current leadership has taken meaningful steps forward and Evercel’s stock price has increased by approximately 32% as of close on October 1, 2021.

SUPPORT CONTINUED PROGRESS AT EVERCEL, NOT ITS DESTRUCTION:

If you filled out any previous proxy cards where you didn’t select whether to vote for or against Mr. Perkins and Mr. McGeehin, it is important to fill out this card and return it for your vote to be counted on this key topic. You can vote for or against the Board’s nominees by returning the official WHITE Evercel proxy card enclosed with this letter, or by calling Evercel’s proxy firm, Okapi Partners, at (212) 297-0720. This is your last opportunity for your vote to be counted, so please vote now.

We encourage you to only vote the WHITE Evercel proxy card and disregard any blue proxy cards sent to you by or on behalf of James D. Gerson and Richard A. Krantz (the “Stockholder Group”) via mail or email. If you have accidentally voted on the blue card, you can reverse this by submitting a later dated WHITE Evercel card – only your latest dated card will count. We urge you NOT to submit any votes using a blue proxy card. By submitting a later dated WHITE Evercel card, you will revoke your previous votes on a blue proxy card. By submitting a WHITE Evercel card, you are voting FOR the Company’s proposals and effectively voting AGAINST the Stockholder Group’s proposals presented in the blue proxy card.

We appreciate you taking the time to vote your shares as we work together to shape Evercel’s future.

Sincerely,

The Evercel Board of Directors1

About Evercel, Inc.

Evercel, Inc. is a holding company that brings an entrepreneurial approach to acquiring and managing businesses through a hands-on, data-driven approach as it partners with strong management teams to drive long term results. Evercel’s current portfolio companies include Printronix, ZAGG and Current Technologies.

Evercel is currently exempted from the SEC’s periodic reporting requirements, and voluntarily reports financial and other information from time to time. Evercel may change its reporting practices at any time, in its discretion and without notice. www.evercel.com

Cautionary Statement Regarding Forward-Looking Information

This press release includes "forward-looking statements" within the meaning the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding our plans to pursue trading of our common stock on the OTCQX, are forward-looking statements. Forward looking statements are generally delivered in the future tense and/or are preceded by words such as "may," "will," "should," "forecast,“ "projected," "could," "expect," "suggest," "believe," "estimate," "anticipate," "intend," "plan,“ or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. Evercel cautions readers not to place undue reliance on forward-looking statements.

Investors:

[email protected]

or

Okapi PartnersBruce Goldfarb/Chuck Garske/Teresa Huang(212) 297-0720[email protected]

Media:

ReevemarkHugh Burns/Paul Caminiti/Jessica Engle [email protected]

__________________________1 Mr. Krantz did not participate in the issuance of this letter.

Source: Evercel

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