VANCOUVER, BC, Nov. 30, 2021 /CNW/ - Swarmio Media Holdings Inc. (CSE: SWRM) ('Swarmio' or 'the Company'), a vertically integrated, end-to-end gaming and esports platform that helps telcos and game publishers engage and monetize the gaming industry, announced today the appointment of Larry Taylor, CPA, as Board Chair and Chair of Swarmio's Audit Committee.
As a former Managing Partner of Ernst & Young Management Consulting, Mr. Taylor brings to Swarmio significant experience in corporate governance and financial oversight. He has held several senior leadership roles including CEO Americas at global foreign exchange operator Travelex plc, and Canadian President at Dollar Financial Group. Larry has broad management consulting experience assisting various multinational and regional companies in transforming their organizations. He also has experience as an investor and independent board member. Larry is Board Chair of several publicly traded companies including: VIQ Solutions Inc, Nasdaq:VQS and TSX:VQS; Spark Power Corp., TSX:SPG; as well Audit Committee Chair for Drone Delivery Canada Corporation, TSXV:FLT.V.
"Larry brings extensive business experience and relationships that will complement management's reach with telecommunications operators and game publishers," said Vijai Karthigesu, CEO of Swarmio Media. "As Board Chair, his leadership and acumen will provide strong direction for the Company as we execute our growth plan over the coming months. On behalf of everyone at Swarmio Media, I'd like to welcome Larry to our Board."
"Swarmio has a very unique and compelling solution able to bring value to both global telecoms operators and game developers and publishers," said Larry Taylor. "It will be up to Vijai and the talented team he's assembled to take advantage of the major opportunities this presents, and I have every confidence they'll do that. I'm excited to play a part in scaling this organization and see Swarmio become the next big Canadian success story."
Swarmio Media Holdings also announces the appointment of Sophic Capital Inc. ("Sophic Capital" or "Sophic") as its Capital Markets advisor. Sophic Capital is a comprehensive capital markets advisory firm and will focus on increasing investor awareness of Swarmio by developing a comprehensive communications strategy and introducing Swarmio to investment advisors, investment dealers, institutions and other financial professionals.
Swarmio's engagement with Sophic Capital is a 12-month term, on a fee-for-services basis of CAD$10,000 per month. In addition, Swarmio has granted Sophic 500,000 options to purchase Swarmio shares at a price of $0.35 per share. The options will vest in accordance with the company's ESOP plan.
About Swarmio Media
Swarmio is a technology company that is focused on providing an end-to-end gaming and esports platform for telcos to monetize their subscribers. Using its patented edge computing technology, Swarmio has engaged with several telcos that have launched its solution allowing their subscribers to access tournaments, engage in a localized gaming community, challenge friends and influencers and earn points that can be used to purchase gaming content.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation: statements about the Company's growth, the Company's ability to capitalize on the major global opportunity in the gaming and esports market, anticipated benefits to the Company's partners and their customers from using the Company's products, ongoing discussions with potential new customers or partners and the possibility that such discussions may result in additional contracts or revenue for the Company, the Company's future plans, its goals and expectations, including but not limited to, the Company's continuing ability to enter into agreements to deploy its products with international telecommunications companies and game publishers and its ability to monetize these agreements through generating SaaS based revenues are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Companies long-form prospectus dated November 10, 2021 (which can be accessed through the Company's profile on www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCE Swarmio Media Holdings Inc.
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