Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 30, 2021, by unanimous written consent, the Board of Directors (the
"Board") of Twinlab Consolidated Holdings, Inc. (the "Company") appointed Mr.
Craig Fabel to fill a vacancy on the Board.
Mr. Fabel was proposed by David Van Andel and was recommended by the
Nominating/Corporate Governance Committee to be appointed to the Board pursuant
to certain provisions of the Voting Agreement, dated as of October 5, 2015,
among the Company, GREAT HARBOR CAPITAL, LLC ("Great Harbor") and Golisano
Holdings LLC, Thomas A. Tolworthy, Little Harbor, LLC ("Little Harbor"), and the
David L. Van Andel Trust U/A dated November 30, 1993 (the "Voting Agreement").
Mr. Fabel is an Investor Designee of Great Harbor pursuant to Section 1.2 of the
Voting Agreement. The transaction pursuant to which the Voting Agreement was
entered into is more fully described in the Company's Current Report on Form 8-K
filed with the Securities and Exchange Commission (the "SEC") on October 8,
2015, which Current Report is hereby incorporated by reference herein.
From 2012 to the present, Mr. Fabel, age 51, has served as managing partner of
Silverback Companies, LLC ("Silverback"), an investment consulting firm
providing advisory services to early-stage technology companies. From 2019 to
the present, Mr. Fabel has served as Chief Executive Officer of eTail Partners,
a Silverback company, which provides Amazon marketing services for global
consumer brands. Elected in May 2021, Mr. Fabel is currently a member of the
board of directors of Veritas Farms, Inc. (OTC:VFRM), a vertically-integrated
agribusiness focused on producing, marketing, and distributing full spectrum
hemp oils and extracts. From 2018 to 2019, Mr. Fabel served as President and a
member of the Board of Directors of Green Roads World, a formulator and
manufacturer of high-quality CBD products. From 2009 to 2012, Mr. Fabel was the
national account manager for Invacare Supply Group, a national healthcare and
medical supply distributor. From 2008 to 2009, Mr. Fabel served as director of
business development for AOM Healthcare Solutions (subsidiary of Owens & Minor,
Nasdaq:OMI) a company delivering products and services to the diabetic patient
market. From 2004 to 2008, Mr. Fabel served as founder and Chief Executive
Officer of pulseMD, a health information technology company focused on emergency
medicine. From 2001 to 2004, Mr. Fabel served as managing partner of Alternergy
Partners, a company providing advisory services to venture capital. Mr. Fabel
holds a Bachelor of Science degree in marketing from Florida State University.
The Company began working with eTail Partners in April 2020. For the year ended
December 31, 2020, the Company paid eTail Partners $228,500 for the services
eTail Partners provided the Company relating to the marketing and sales of the
Company's products on ecommerce platforms. Mr. Fabel is the owner and Chief
Executive Officer of eTail Partners.
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