Rocky Mountain Chocolate Factory raises $2.7M via private placement of 1.5M shares at $1.80; appoints new board member

Rocky Mountain Chocolate Factory, Inc.

Sold 1,500,000 shares at $1.80 each to ARM-D Rocky Mountain Chocolate Holdings LLC for total proceeds of $2.7M.
Proceeds to be used for general working capital purposes.
Appointed Alberto Pérez-Jácome Friscione to the Board, effective immediately; will chair Nominating and Corporate Governance Committee.
Amendment caps GVIC ownership at 25% of outstanding voting securities.
Investor Rights Agreement provides registration rights, preemptive rights, and standstill provisions.

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