• Rainy Day Investments demands that DAVIDsTEA release its Q1 financial results now
• DAVIDsTEA shareholders are entitled to see the Q1 results well before the proxy voting deadline for the June 14 annual meeting

MONTREAL, June 06, 2018 (GLOBE NEWSWIRE) -- This past Monday, June 4, at 8 a.m., Rainy Day Investments Ltd. (“RDI”) issued a press release demanding that DAVIDsTEA Inc. (“DAVIDsTEA”) (Nasdaq: DTEA) immediately release its financial statements for the quarter ended May 5, 2018, so that shareholders could consider the financial results before the June 12 proxy-voting deadline for the annual meeting to be held on June 14.

This morning, two days later, DAVIDsTEA issued a press release announcing that its Q1 results will be released after the markets close next Monday, June 11.

This means that DAVIDsTEA will release its Q1 results one day before the Tuesday, June 12 deadline for proxy voting, and at the end of the business day, no less.

“The first quarter ended on May 5. I’m sure the Q1 financial statements are ready now. What are they hiding?” said Herschel Segal, co-founder of DAVIDsTEA and President of RDI.

“It is critical that DAVIDsTEA release its Q1 results immediately. This is a contested election for the Board, perhaps the most important in DAVIDsTEA’s history. And now they tell us we will see the Q1 results just before the deadline for proxy voting. DAVIDsTEA shareholders are entitled to see the Q1 results before they vote, and not at the last minute. To delay any further is an insult to all shareholders”, concluded Mr. Segal.

How to Vote for the RDI Nominees

RDI holds approximately 46.4% of the outstanding shares of DAVIDsTEA and has proposed a slate of seven highly-qualified Canadian nominees with extensive experience operating retail businesses in Canada for election as directors at the annual meeting. They share a common vision about the future of DAVIDsTEA and are committed to a turnaround of operations and financial performance for the benefit of ALL shareholders.

RDI’s nominees are Herschel Segal, M. William Cleman, Pat De Marco, CPA, CA, Emilia Di Raddo, CPA, CA, Max Ludwig Fischer, Ph.D., Peter Robinson and Roland Walton. RDI mailed a proxy circular dated May 11, 2018 to shareholders, including a BLUE voting instruction form, which allows shareholders to vote FOR the seven nominees.

To vote for RDI’s seven nominees, use only the BLUE voting instruction form. If you have already voted using the yellow management proxy and wish to vote FOR RDI’s qualified nominees, please vote using the BLUE form. This will automatically revoke any previous proxies submitted. To ensure that your vote is counted, please vote even if you are planning to attend the annual meeting. The deadline to vote your BLUE voting instruction form is at 9:00 a.m. (eastern time) on Tuesday, June 12, 2018.

Shareholders who need assistance in voting their BLUE voting instruction form in favour of the seven RDI 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 can reach Shorecrest Group at 647-931-7454. RDI’s proxy circular is available at www.saveDTEA.com as well as under DAVIDsTEA’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Investor Contact	Media Contact
Christine Carson Co-founder & Managing Director Shorecrest Group Direct: 1-888-637-5789 E-mail: [email protected]	Lyla Radmanovich 514-845-8763 [email protected]

Forward-looking Statements

This press release may contain forward-looking statements with respect to DAVIDsTEA and RDI. These statements generally can be identified by use of forward-looking words such as “may” “will”, “expect”, “estimate”, “anticipate”, “intends” or “believe” or the negative thereof or similar variations. Actual results could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. These cautionary statements qualify all forward-looking statements attributable to RDI and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and RDI has no obligation to update such statements, except to the extent required by applicable securities laws.

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