4Licensing Corporation Announces Retirement of Jay Emmett, Chairman of the Board of Directors

NEW YORK--()--4Licensing Corporation (FOUR), specializing in the end-to-end development of licensed products and programs for the sports and entertainment industries, announced today that after a long and distinguished career, its long time Board Member and Chairman Jay Emmett, who recently celebrated his 86th birthday, is retiring from the Company’s Board of Directors to concentrate on personal matters.

“I want to thank Jay Emmett for his recent years of service to 4LC as its Board Chairman, as well as for his many years of service as a Director to the 4LC predecessor, 4Kids Entertainment”

Mr. Emmett’s resignation is effective immediately. The Company will be conducting a search for a new Director, and will appoint an interim Board Chairman at its next meeting. A portion of the compensation that Jay Emmett received for services rendered to the Board was in the form of stock option grants, which must be exercised within a specific timeframe from the date of his resignation.

“I want to thank Jay Emmett for his recent years of service to 4LC as its Board Chairman, as well as for his many years of service as a Director to the 4LC predecessor, 4Kids Entertainment,” said CEO Bruce Foster. “During his time on the Board, 4Kids was the merchandise licensing agent for some of the most successful children’s properties, including Pokémon, Yu-Gi-Oh!, Teenage Mutant Ninja Turtles and Cabbage Patch Kids. We sincerely wish Jay Emmett a very happy and healthy retirement,” added Foster.

“Together with my family, after many years of service, I have decided that it is finally the right time for me to retire from my commitment to 4LC. It has been a pleasure serving the Directors and Management who have acted with the highest integrity on behalf of the shareholders to shepherd the Company out of its legal issues, bankruptcy, and created new value by launching a promising new product line. Heading into the future, I am confident that the Board of Directors and team of experienced executives at 4LC will do an excellent job for our clients and shareholders,” said Jay Emmett.

4LC is continuing to service its licensing properties, as well as exploring the various market opportunities that exist for the isoBLOX® impact protection technology.

4Licensing Corporation-4LC is a licensing company specializing in specialty brands, technologies and youth-oriented markets. Through its subsidiaries, 4LC licenses the merchandising rights to popular children’s properties and product concepts, builds brands through licensing, develops ideas and concepts for licensing, and has begun to forge new business relationships in the sports licensing industry and in developing private label goods to be sold at retail or directly to consumers.

The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of the federal securities laws. Any forward-looking statements are and will be based upon our then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated in any forward-looking statements. Such risks and uncertainties include our ability to generate sufficient cash flow to operate as a going concern, including our ability to successfully derive significant product revenue from the sale of IsoBLOX™ related products; our ability to raise additional capital; and those other risks and uncertainties described in the Quarterly Report on Form 10-Q and in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC, as well as other factors. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Contacts

INVESTOR
4Licensing Corporation
Lynda Pandolfo, (646) 822-4208
lpandolfo@4Licensingcorp.com

Release Summary

Jay Emmett, 4LC Board Chairman, Retires

4Licensing Corporation