BBTV Promotes Ben Groot to Chief Financial Officer

Rhea-AI Summary

BBTV Holdings Inc. (OTCQX: BBTVF) has appointed Ben Groot as Chief Financial Officer, effective immediately. Groot, who has been with BBTV for nearly eight years, previously served as Acting CFO. His extensive experience in finance and the media industry positions him well for driving the company's growth. The leadership change comes as BBTV continues to develop market-leading solutions to enhance creator monetization. Groot expressed enthusiasm for the company's ongoing efforts to expand revenue opportunities and unlock value for stakeholders.

Positive

• Ben Groot's promotion to CFO indicates stability and continuity in leadership, which can positively affect investor confidence.
• Groot's extensive experience with BBTV may enhance strategic decision-making and financial performance.

Negative

• BBTV has a history of losses and negative cash flow, which could hinder confidence in future growth.
• The company is significantly reliant on one digital platform, posing potential risks if that relationship falters.

VANCOUVER, BC, Oct. 21, 2021 /PRNewswire/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) ("BBTV" or the "Company"), the leading creator monetization company with a mission to help creators become more successful, announces the promotion of Ben Groot to Chief Financial Officer (CFO). A seasoned financial executive that has been with BBTV for almost eight years, Mr. Groot previously served as Acting CFO for the Company for the last few months and prior to that was the Company's Vice President of Finance for 6 years, serving as BBTV's highest ranking finance executive.

"Ben's deep experience and knowledge of BBTV's business, the media and technology industry, and capital markets makes him a uniquely qualified CFO at this exciting time for the company," comments Shahrzad Rafati, Chairperson & CEO, BBTV. "Our business continues to roll out market leading solutions across both its Base and Plus Solutions, and the strength of our leadership team has been fundamental to BBTV's growth over the past 16 years. Ben has had an exceptionally positive impact on our success for the better part of a decade, and I'm delighted to express our board's unreserved confidence in him and appoint him as our Chief Financial Officer."

Mr. Groot will continue to report to BBTV's Chairperson and CEO, Shahrzad Rafati.

"BBTV is a Canadian success story that has redefined what is possible for creators around the world. The market opportunity continues to grow for creators and investors alike, and I'm excited to be a part of the journey," commented Ben Groot, CFO, BBTV. "In addition to continuously expanding our powerful suite of solutions we remain wholly focused on expanding revenues and unlocking value from the business."

Mr. Groot started his professional career at PricewaterhouseCoopers in 2007 during which time he obtained his Chartered Professional Accountant designation (CPA, CA) and Masters in Professional Accounting (MPAcc). In his role he managed multiple national top tier clients before starting a successful financial consulting business which he ran for several years, providing a breadth of services to a range of businesses, spanning high-growth private start-up companies to large US and Canadian public companies.

For more information visit www.bbtv.com.

About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com)

[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.

Forward-Looking Statements
This press release contains "forward–looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which reflects the Company's current expectations regarding future events, including that the Company will carry its previous momentum of success forward, the market opportunity continues to grow for creators and investors alike, and the Company is continuously expanding its powerful suite of solutions and remains wholly focused on unlocking value from the business.   Forward-looking information is necessarily based on a number of estimates and assumptions that we considered appropriate and reasonable as of the date such information is given, including but not limited to our assumptions that our industry will continue to experience positive changes, growths and trends; the Company will continue to have timely access to needed capital, and will continue to grow its creator base; the Company's technology will continue to perform and be expanded; the Company will be able to continue to adopt new and widely accepted Solutions. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that our assumptions on which our forward-looking information is based may not be accurate or be realized; the effect of competition; the risk of changes in government regulation which may be adverse to the Company's business; the Company's significant reliance on its relationship with one digital platform; litigation risk; that the Company has a history of losses and negative cash flow; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020, and in its Annual Information Form dated March 28, 2021 filed on sedar at www.sedar.com and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

For further information please contact:

Media Relations: PR@bbtv.com 

Investor Relations: IR@bbtv.com 

BBTV-C

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SOURCE BBTV Holdings Inc.

FAQ

What is the significance of Ben Groot's appointment as CFO for BBTV (BBTVF)?

Ben Groot's promotion is seen as a positive move for BBTV as it ensures experienced leadership during a crucial growth phase.

What challenges does BBTV (BBTVF) face moving forward under Ben Groot's leadership?

BBTV faces challenges including reliance on a single digital platform and a history of financial losses which may impact future stability.

How long has Ben Groot been with BBTV (BBTVF)?

Ben Groot has been with BBTV for nearly eight years, contributing significantly to the company's financial strategy.

What are the future plans of BBTV (BBTVF) after Ben Groot's promotion?

BBTV aims to continue expanding its solutions for creators and increasing revenue opportunities under Groot's leadership.

When was the press release about Ben Groot's promotion issued for BBTV (BBTVF)?

The press release announcing Ben Groot's promotion to CFO was issued on October 21, 2021.