TORONTO, Nov. 15, 2018 /CNW/ - Globalive Technology
(TSX-V: LIVE) Chief Executive Officer Anthony Lacavera today announced his intention
to receive his future salary in shares of Globalive Technology,
rather than cash, subject to approval by the TSX Venture Exchange.
Until receipt of such approval, effective as of January 1, 2019, Mr. Lacavera will begin
receiving his salary in cash quarterly in arrears, and, subject to
TSX Venture approval and compliance with applicable securities
laws, will use the after-tax total to purchase shares of Globalive
Technology by way of private placement.
Mr. Lacavera's willingness to forgo his cash salary in favour of
shares demonstrates his confidence in the long-term performance of
Globalive Technology and his ongoing commitment to remain aligned
with the interests of shareholders.
"I believe the pipeline of products we're building has
significant upside," said Mr. Lacavera. "The progress made by our
collaborators such as Flexiti Financial and Sponsor Energy shows
we're just starting to scratch the surface of our potential."
Separately, Globalive Technology announced Brice Scheschuk has been appointed to the role
of Chief Financial Officer of the Company, as Interim Chief
Financial Officer Brock Bundy
transitions out of the role.
"I am thrilled to have helped lay the groundwork for Globalive
Technology, and I am excited to watch the Company continue to
grow," said Mr. Bundy. "Over the next few months, I will work
closely with Brice and the rest of the leadership team to ensure a
smooth transition."
About Globalive Technology Inc.
Globalive Technology
is a next generation software company and venture partner that is
developing and investing in innovative solutions to disrupt
traditional industries. The company forms partnerships with leading
high growth companies to develop and commercialize software
solutions using optimal technology stacks. It is controlled by
Globalive Capital Inc. which has founded and co-founded 12
businesses over the past 20 years with six successful exits ranging
from $10M to $1.3B USD, has made over 100 venture investments
and has over 45 technology companies in its portfolio. For more
information, visit www.globalivetech.com.
For investor inquiries:
Melanie Barbeau
Account Manager, Renmark Financial Communications
InvestorRelations@globalivetech.com
For media inquiries:
Rob
Moysey
Communications Manager, Globalive
Media@globalivetech.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements relating
to the growth of the Company and Mr. Lacavera's intention to
acquire shares of the Company. Such forward-looking statements are
identified by terms such as "intention", "will" and similar
expressions. All statements other than statements of historical
fact included in this release, including those noted above, are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations include the Company's ability to grow
its business, securities laws that could prevent Mr. Lacavera from
purchasing shares in the open market and other risks as set out in
the Company's Filing Statement available on its SEDAR page at
www.sedar.com.
The reader is cautioned that assumptions used in the preparation
of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ
materially from those predicted as a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Company. As a result, the Company cannot
guarantee that any of the forward-looking statements contained in
this press release will occur as disclosed herein or at all. The
reader is cautioned not to place undue reliance on any
forward-looking information.
Such information, although considered reasonable by management
at the time of preparation, may prove to be incorrect and actual
results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will only
update or revise publicly the included forward-looking statements
as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Globalive Technology
