MBG Holdings Appoints Jason Lohe and Paul Twitchel to Board of Directors

Rhea-AI Summary

MBG Holdings, Inc has appointed Jason Lohe and Paul Twitchell to its Board of Directors, effective immediately, following the resignation of Chief Financial Officer Jeremie Peterkin and Board Director Angela Paxton. Twitchell brings over 30 years of financial executive experience, having co-led investment strategies at Whitebox Advisors. Lohe has over 20 years of experience in revenue generation and strategic planning, contributing to various industries including sports and finance. The appointments aim to align with MBGH’s growth strategies as the company progresses in telecommunications and IT lifecycle solutions.

Positive

• Appointment of experienced executives Jason Lohe and Paul Twitchell to the Board of Directors.
• Lohe and Twitchell's expertise aligns with MBGH's growth strategies, potentially enhancing company direction.

Negative

• Resignation of CFO Jeremie Peterkin and Board Director Angela Paxton raises concerns about continuity.
• Leadership change may create experience gaps during a critical growth phase.

Both are Accomplished Financial Executives Aligning with MBGH Growth Strategies

AUSTIN, TX, March 31, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – MBG Holdings, Inc (OTC Pink: MBGH), holding company of Onepath Systems, LLC and AMR Resources, LLC, a leading telecommunications lifecycle company, today announced that the Company has appointed Jason Lohe and Paul Twitchel to its Board of Directors, effective immediately. They replace Jeremie Peterkin, who resigned as Chief Financial Officer, Treasurer and Director of MBG Holdings, Inc., and Angela Paxton, who resigned as a Board Director as well.

Both Mr. Twitchell and Mr. Lohe have been appointed to the Compensation Committee of the Board and the Audit Committee of the Board.

Chairman and CEO of MBG Holdings, Inc. James Frinzi, commented, “The Board and I welcome Paul Twitchell and Jason Lohe to MGB Holdings. Both men are accomplished executives in the financial field, Paul as a strategist and trading veteran, and Jason as a serial entrepreneur, C-level executive, and financial advisor. We believe that their respective expertise and experience align well with the growth strategies that MGB is focusing on going forward, and we look forward to their contributions.”

Paul Twitchell has over 30 years’ experience as a financial executive. He retired from Whiteboxadvisors in June 2021 where he was Co-Chief Investment Officer. While there, he developed several trading units and strategies and launched three very successful funds. He started structured product trading and municipal bond trading. Previously he was employed at EBF & Associates for more than seven years where he managed a convertible bond portfolio. Mr. Twitchell began his career with Cargill Inc. in 1992, assisting the North American, European, and Emerging Market trading desks.

Jason Lohe is an accomplished C-Level Executive, Entrepreneur, and Board Member with over 20 years of success with revenue generation and optimization, strategic planning, investment capital and structure, corporate partnerships, and marketing.  As the Head of N. America for United Cities, Jason is responsible for projects in Canada, Mexico, and the United States, and sits on the Global Board and the board for the United Cities Funds. Jason has over two decades of experience in both the sports and financial services industries, working for JP Morgan, AIG, Morgan Stanley, Michael Jordan, Major League Soccer, Oakland A’s Baseball team and for Octagon Football Sports Agency. In addition, he co-founding an investment banking and merchant banking firm with a focus on MES, media, entertainment, and sports, and facilitated the capital raise and sale of professional sports franchises.  As a serial entrepreneur, Jason founded Gameplan Impact, Gameplan Sports and Entertainment, Revolutionary Sports, and Safeguard Financial and Insurance Services, an SEC-registered RIA and insurance brokerage that focused on high-net-worth executives and professional athletes.

About MBG Holdings

MBG Holdings, Inc is the holding company of Onepath Systems, LLC and AMR Resources, LLC, a leading IT and network lifecycle company offering solutions for the complete IT and network lifecycle from deployment to decommissioning. The company is backed by logistics, field enterprise service systems, and a global technician base. AMR Resources, LLC specializes in large-scale telecommunications, system/network planning and engineering, fire and life safety systems, low voltage cabling, electronic security, audiovisual installation services, electronic waste recycling, and data destruction. The company’s clients include technology, communications, health care, sports entertainment, and government companies.

Forward Looking Statements

This Press Release contains certain “forward-looking statements” as such term is defined in the Exchange Act. These statements reflect our current expectations regarding our possible future results of operations, performance, and achievements. Wherever possible, the Company has tried to identify these forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “expect,” “plan,” “intend,” and similar expressions. These statements reflect our current beliefs and are based on information currently available to us. Accordingly, these statements are subject to certain risks, uncertainties, and contingencies, which could cause our actual results, performance, or achievements to differ materially from those expressed in, or implied by, such statements. Further, the safe harbor provisions of the Exchange Act may not apply to an issuer that issues penny stock. These statements speak only as of the date of this Press Release. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. The Company does not assume any obligation to update any forward-looking statements to reflect events or circumstances after the date of this Press Release except as required by federal applicable law.

Contact:

Mike McClure

mike.mcclure@multibandglobal.com

FAQ

Who were the recent appointments to the MBGH Board of Directors?

Jason Lohe and Paul Twitchell were appointed to the Board of Directors of MBG Holdings.

What positions did Jeremie Peterkin and Angela Paxton hold before resigning from MBGH?

Jeremie Peterkin was the Chief Financial Officer, Treasurer, and Director, while Angela Paxton was a Board Director.

What are the backgrounds of Jason Lohe and Paul Twitchell?

Jason Lohe has over 20 years in strategic planning and revenue generation, while Paul Twitchell has 30 years as a financial executive, previously Co-Chief Investment Officer at Whitebox Advisors.

How might the new board members impact MBGH's growth strategies?

The expertise of Lohe and Twitchell is expected to strengthen MBGH's alignment with its growth strategies in telecommunications and IT.

When were the new board members appointed?

Jason Lohe and Paul Twitchell were appointed to the Board of Directors effective March 31, 2023.