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
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