Stockholder Group Announces Three New Independent Directors Are Elected to the Evercel, Inc. Board Based on Preliminary Report from Inspector of Elections

NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) -- James D. Gerson and Richard A. Krantz (collectively, the “Stockholder Group”), the collective owners of approximately 12.0% of the outstanding voting stock of Evercel, Inc. [OTC Pink: EVRC] (“Evercel” or the “Company”), announced today that based on preliminary voting results provided by the independent inspector of elections for Evercel’s 2021 Annual Meeting of Stockholders held on October 7, 2021, the Stockholder Group’s nominees, Daniel Lewis, Richard Lewisohn III and Alan Mitrani, have been elected to the Board. Additionally, based on preliminary voting results, stockholders representing greater than a majority of the outstanding shares also supported and approved the Stockholder Group’s other business proposals to restore and amend the Bylaws in order to increase the size of the Board to nine members through the 2024 annual meeting of stockholders and allow stockholders to fill the resulting vacancies.

Despite the Inspector’s preliminary report, the Company has requested a formal review and challenge of the results with the independent Inspector of Election. The Stockholder Group expects the preliminary results will be certified in the upcoming days.

“The preliminary results of the Annual Meeting confirm that stockholders support our desire to see greater accountability and transparency at Evercel. We are confident that our three nominees have the right skillsets to improve the Company’s strategy and corporate governance in order to help Evercel achieve its full potential,” said Mr. Gerson.

Sources:

James D. Gerson(914) 525-4542Richard A. Krantz(203) 362-8007

Investor Contact:

Saratoga Proxy Consulting LLCJohn Ferguson(888) 368-0379(212) 257-1311

Source: Stockholder Group Including Mr. James Gerson

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