Pride Holdings Group (OTC: PHSE) announced the formation of a new Advisory Board and the appointment of Richard Hawkins, George Wallace and Darren Donnelly as its initial members. The move signals the company’s intent to bolster corporate governance and strategic infrastructure as it expands its operating portfolio, evaluates additional acquisition opportunities and works toward a long-term objective of pursuing an uplisting to the New York Stock Exchange or NASDAQ. According to the announcement, which was distributed via NEWMEDIAWIRE, the Advisory Board will work alongside company leadership, offering perspective and guidance on acquisitions, corporate governance, operational growth and capital markets strategy.
The appointments bring a mix of capital markets, community and operational experience. Richard Hawkins is a seasoned capital markets executive and strategic advisor with more than two decades of experience in public company leadership, corporate finance, restructurings, mergers and acquisitions, and strategic growth initiatives. He has held and continues to serve in executive leadership and board roles across multiple public companies, and is managing partner of a multi-strategy investment fund focused on public company investments and special situations. Pride Holdings Group believes his experience will be valuable as it strengthens corporate infrastructure, evaluates strategic transactions and pursues longer-term capital markets objectives.
George Wallace, a member of the Orlando LGBTQ+ community, brings a community-focused perspective. His appointment reinforces the company’s commitment to maintaining a strong connection between its growth strategy and the LGBTQ+ communities it serves. Darren Donnelly, MBA, adds both business education and direct operating experience. Donnelly previously served as Manager of Trevi Lounge in Connecticut and has since joined the Pride Holdings Group team. His venue-level experience provides the Advisory Board with an operational perspective as the company evaluates acquisitions and expands its portfolio of hospitality and nightlife businesses.
“Establishing our Advisory Board is another important step in building the corporate infrastructure for the future of Pride Holdings Group,” said Tim Majors, CEO of Pride Holdings Group. “Richard, George and Darren each bring a different perspective to the table - from corporate strategy and community engagement to direct operational experience. That diversity of experience will be valuable as we continue evaluating acquisitions, strengthening our governance and positioning the Company for its next stage of growth.” Majors continued, “As Pride Holdings Group grows, we want to surround the Company with individuals who understand business, understand our operations and understand the community we serve. Our objective is to build a stronger organization with the governance, accountability and strategic discipline necessary to operate at a significantly larger scale.”
The company expects the Advisory Board to play an active role in reviewing acquisition opportunities and providing management with additional perspective on strategic fit, operational integration, potential financial contribution and long-term shareholder value. The board will also advise management as Pride Holdings Group continues evaluating the steps necessary to pursue a future NYSE/NASDAQ uplisting. Any potential uplisting would be subject to the company satisfying applicable listing standards, regulatory requirements and other conditions, and there can be no assurance that an uplisting will occur within any particular timeframe.
Pride Holdings Group anticipates adding additional members to the Advisory Board in 2027 as the company continues to expand its operations and corporate infrastructure. The formation of the Advisory Board underscores the company’s focus on building the governance and strategic discipline needed to operate at a larger scale, which could enhance its ability to attract investors and pursue growth opportunities in the LGBTQ+ hospitality and nightlife sector.
