VANCOUVER, BC – August 8, 2023.
LUXXFOLIO Holdings Inc. (the “Company” or “Luxxfolio”) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH), is pleased to announce the appointment of Rodney Stevens and Jason Cihelka as Directors of the Company. Rodney Stevens will serve as an Independent Director.
Mr. Stevens is a Chartered Financial Analyst (CFA) Charterholder with over a decade of experience in the capital markets, first as an investment analyst with Salman Partners Inc. and subsequently as a merchant and investment banker. While at Salman Partners, he became a top-rated analyst by StarMine for the metals and mining industry. Mr. Stevens was also a Portfolio Manager registered with Wolverton Securities Ltd. and over the course of his career, he has been instrumental in assisting in financings and mergers and acquisitions activities worth over $1 billion in transaction value. Mr. Stevens has been an advocate and participant in the crypto asset industry and was a principal of Digital Asset Management Corp., a private start-up, developing a cryptocurrency holdings company with the objective of providing investors with a convenient and more liquid way of gaining exposure to the cryptocurrency sector without sacrificing security.
Mr. Cihelka has extensive experience working with and developing Web3 protocols and applications. He is an Electrical & Computer Engineer, and a registered Professional Engineer with APEGA. Mr. Cihelka was the Company’s Director of Engineering. He is a co-founder of Vault32, a Filecoin storage provider and decentralized infrastructure provider, and a senior software engineer at Protocol Labs, a company focused on building decentralized protocols powering the next generation of the Internet.
In addition, the Company is pleased to appoint Maria Foran as Corporate Secretary of the Company. Mrs. Foran brings extensive experience in corporate governance, document management and regulatory matters and represents a significant addition to the management team.
Geoffrey McCord, interim CEO, commented, “Luxxfolio now has the dedicated, technical, capital markets, and administrative capacities to implement a meaningful recovery after a difficult year. Luxxfolio will continue to add qualified professionals to its team as required, and I look forward to seeing what the team accomplishes over the next few months.”
While the Company continues to search for a qualified person to be appointed as its CEO, Geoffrey McCord was appointed as interim CEO to undertake certain necessary duties on behalf of the Company.
On August 4, 2023, the Company also granted stock options to directors, officers and consultants of the Company to purchase an aggregate of 6.13 million common shares in the capital of the Company. The stock options are exercisable for five years from the date of the grant at an exercise price of $0.015 per common share. The stock options will vest over a 12-month period with 50% vesting immediately, and 25% at each of the six-month and twelve-month dates from the grant date. The stock options are subject to a four-month-and-one-day hold period from the date of the grant in accordance with applicable securities laws and were granted in accordance with the terms of the Company’s stock option plan and the policies of the CSE.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “intends”, “will”, or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements regarding the Company and its business and strategies are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its subsidiaries to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.