Announces launch of Website saveDTEA.com outlining important information for shareholders about its turnaround plan for DAVIDsTEA, and about its seven director nominees

MONTREAL, Quebec, May 17, 2018 (GLOBE NEWSWIRE) -- Rainy Day Investments Ltd. (“RDI”), the holding company of Mr. Herschel Segal, a founder of DAVIDsTEA Inc. (Nasdaq: DTEA) and a director until March 5, 2018, is pleased to announce the launch of www.saveDTEA.com, a website that outlines RDI’s plan for a financial turnaround of DAVIDsTEA through improved operations, to be led by RDI’s slate of seven nominees for election as directors of DAVIDsTEA at the annual meeting to be held in Montreal on June 14, 2018. RDI holds approximately 46.4% of the outstanding shares of DAVIDsTEA.

“It’s time for change at DAVIDsTEA. The current Board is wasting valuable time, resources and shareholder money exploring strategic alternatives aiming to sell all or part of DAVIDsTEA at a time when its underlying value is depressed by deeply disturbing financial results. Urgent action is needed now to put DAVIDsTEA back on the path to growth and long-term success for the benefit of all shareholders,” Mr. Segal said.

“A key prerequisite for success is a unified vision at the Board level and a clear strategic direction, both of which are currently lacking. By focusing on the right priorities, I am confident that DAVIDsTEA can aspire to a great future as an iconic Canadian brand. The seven highly-qualified nominees RDI proposes, myself included, bring vast retailing and business experience, and share a passion and common vision for the future of DAVIDsTEA as well as a commitment to creating long-term value for all shareholders,” Mr. Segal concluded.

Shareholders are encouraged to visit www.saveDTEA.com as well as consult RDI’s shareholder letter and dissident proxy circular filed on May 11, 2018 to find out more on why change is needed now. RDI’s proxy circular is also available under DAVIDsTEA’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Shareholders who need assistance in voting their BLUE proxy form or BLUE voting instruction form FOR RDI’s seven nominees should contact RDI’s proxy solicitation agent, Shorecrest Group, by email at [email protected] or by calling toll free at 1-888-637-5789; brokers and banks - 647 931 7454.

About Rainy Day Investments Ltd.

RDI, which holds approximately 46.4% of the outstanding shares of DAVIDsTEA, is the holding company of Mr. Herschel Segal, a founder of DAVIDsTEA and a director until March 5, 2018. To find out more, go to www.saveDTEA.com.

Investor Contact
Christine Carson
Co-founder & Managing Director
Shorecrest Group
Direct: 1-888-637-5789
E-mail: [email protected]

Media Contact
Lyla Radmanovich
514-845-8763
[email protected]

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