Rocky Mountain Chocolate Factory, Inc., has announced that its Board of Directors unanimously elected Jeffrey Geygan as the Board's new Chair, effective June 9, 2022. He succeeds Elisabeth Charles, who will serve on the Board until the conclusion of the Company's Annual Meeting of Stockholders to be held on August 18, 2022 (the “Annual Meeting”). She will retire from the Company following the Annual Meeting.

Ms. Charles was elected a director in October 2021 and appointed Board Chair in January 2022. She oversaw continued positive change in the Company's corporate governance policies and the hiring of innovative food industry veteran Rob Sarlls as Chief Executive Officer in May 2022. Her decision to step down is for personal reasons and not related to any disagreement with the Company or its operations, policies, or practices.

Mr. Geygan joined the Board in August 2021, serving as Interim Board Chair from October 2021 to January 2022. Additionally, Mr. Geygan serves as Chief Executive Officer and President of Global Value Investment Corp. (“GVIC”), an investment research and advisory services firm he founded in 2007.

GVIC is an 8.5% stockholder in the Company. He has also served as a director of the Wayside Technology Group, Inc., since February 2018, and as the Chair of its Board of Directors since May 2018.