Tony G Co-Investment Holdings Announces Changes to Management

Rhea-AI Summary

Tony G Co-Investment Holdings (CSE: TONY) announced significant management changes effective March 18, 2025. Ron Akram will step down from his positions as CEO and CFO but will remain as a director. The company will appoint Gediminas Klepackas as the new CEO and Douglas Harris as the new CFO.

Positive

• Planned leadership transition with clear succession plan in place
• Maintaining continuity with former CEO remaining on board as director

Negative

• Simultaneous change of both CEO and CFO positions could create temporary operational uncertainty

Toronto, Ontario--(Newsfile Corp. - December 23, 2024) - Tony G Co-Investment Holdings Ltd. (CSE: TONY) (the "Company" or "TGH") would like to announce that effective March 18, 2025, Mr. Ron Akram will be stepping down as the Chief Executive Officer and Chief Financial Officer of the Company. Mr. Ron Akram will remain as a director of the Company. In connection with these management changes, effective March 18, 2025, Mr. Gediminas Klepackas will be appointed the Company's Chief Executive Officer and Mr. Douglas Harris will be appointed the Company's Chief Financial Officer. The Company will issue a press release upon the effective date of the appointments.

For more information, please contact:

Ron Akram
Chief Executive Officer
Tel: +44 786 6464 520
Email: contact@tony.holdings

This press release contains "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Tony G Co-Investment Holdings Ltd. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

The forward-looking statements and information in this press release include, but are not limited to the Company's intention to defend the litigation with the Fund, the Company's liability under the Debenture and the above-mentioned litigation.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Such forward-looking statements, including but not limited to statements relating to the Loan and the Company's business strategy, involve risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among others, that the litigation referred to herein will be resolved in a manner that is unfavourable to the Company (including any judgment, award or settlement of the litigation that results in the Company incurring liability, costs or expenses that, in the aggregate, exceed the share issuance costs of the Conversion Shares), the Company is required to issue shares other than the Conversion Shares or pay any amount to the plaintiff in defending, resolving, or in connection with, such litigation, and other related matters, or other factors set forth in the Company's publicly filed documents under its profiles at www.sedarplus.ca.

Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

None of the Canadian Securities Exchange or its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235004

FAQ

When will Ron Akram step down as CEO of Tony G Co-Investment Holdings (CSE: TONY)?

Ron Akram will step down as CEO and CFO of Tony G Co-Investment Holdings effective March 18, 2025.

Who will be the new CEO of Tony G Co-Investment Holdings (CSE: TONY)?

Gediminas Klepackas will be appointed as the new CEO of Tony G Co-Investment Holdings effective March 18, 2025.

Who is replacing Ron Akram as CFO at Tony G Co-Investment Holdings?

Douglas Harris will be appointed as the new CFO of Tony G Co-Investment Holdings effective March 18, 2025.

Will Ron Akram remain with Tony G Co-Investment Holdings after stepping down as CEO?

Yes, Ron Akram will remain as a director of Tony G Co-Investment Holdings after stepping down from his CEO and CFO positions.