Cloud Nine Announces New CFO and Adds New Board Member

Rhea-AI Summary

Cloud Nine (CSE:CNI)(OTC PINK:CLGUF) announced significant leadership changes, appointing Kant Trivedi to its Board of Directors and Nilda Rivera as Chief Financial Officer and Corporate Secretary, effective immediately. Kant brings over 20 years of experience in technology and blockchain, with a notable record at Blockfusion Technologies and Rogers Communications. Nilda has extensive experience in corporate finance, previously serving at Aurora Cannabis, where she managed substantial financial operations. Both appointments aim to bolster the company's growth strategy.

Positive

• Kant Trivedi's extensive blockchain experience is expected to enhance strategic direction.
• Nilda Rivera's background in corporate finance can improve financial governance and operational efficiency.

Negative

• Management changes may cause temporary disruption in continuity.

VANCOUVER, BC / ACCESSWIRE / February 9, 2021 / Cloud Nine (CSE:CNI)(OTC PINK:CLGUF) is pleased to announce the appointments of Kant Trivedi to Cloud Nine's Board of Directors and Nilda Rivera as Chief Financial Officer and Corporate Secretary effective immediately.

Kant has over 20 years of experience building and managing world-class customer operations within the Technology, Telecommunications, Financial Services and Blockchain sectors. Kant is a co-founder and Director of Blockfusion Technologies Inc. (Blockfusion), a technology company building the world's largest blockchain and AI infrastructure. Blockfusion has been investing in new capabilities to offer end-to-end crypto services to fuel mainstream crypto adoption and stay at the forefront of future technology advancements. Before founding Blockfusion, Kant was Chief Operating Officer & Managing Director (Partner) at Greenwich Associates, a consulting firm that works with over 260 of the largest banks and Fintech firms globally, which he successfully led to an exit. He also held several senior leadership positions with Rogers Communications Inc. (RCI.B)(RCI), one of Canada's largest communications and media companies. Kant authored and implemented the Rogers Enterprise Business Unit customer operations strategy and led award-winning teams responsible for Fixed land-line, Mobile, Data Center, Colocation, Cloud and Internet of Things (IoT), supporting revenue growth to over $1.9 billion. Prior to Rogers Communication Inc. Kant was General Manager at Look Communications (previously Internet Direct (IDX) and was accountable for the operations and technology teams, supporting its growth from a market capitalization of $20 million to $1.5 billion. Kant holds an MBA from Queen's University. He is involved with charitable organizations like the United Way and Indus Community Services and sits on the board of several public companies, including Norsemont Mining (NOM).

Allan Larmour, CEO, stated, "On behalf of the Board, I am very pleased to welcome Kant Trivedi to the Company. With Kant's extensive blockchain technology experience and leadership roles, his expertise and guidance will be of great value to Cloud Nine as the Company executes its growth strategy."

Ms. Rivera has over 20 years of experience in corporate and operational finance and managed publicly listed companies in the areas of accounting, finance, regulatory compliance and corporate governance. She was involved in IPOs, RTOs and mergers and acquisitions in several industries including cannabis, hemp, resource and technology, and assisted various start-up companies in achieving public listings on the CSE, TSXV and OTC, and their uplisting to the TSX and NYSE. Prior to joining Cloud Nine, Ms. Rivera served as Vice President of Finance and Corporate Secretary at Aurora Cannabis Inc. (ACB) where she was instrumental in building its finance team, and involved in completing its early equity and debt financings and its uplisting to the TSX and NYSE. She has also served as CFO, Corporate Secretary and a director for several public mining and exploration companies.

"We are excited to welcome Nilda to Cloud Nine's executive team, "stated Allan Larmour, CEO. "Her caliber and considerable experience in corporate finance with public companies will be of great benefit to us as we anticipate her to be an important part of our growth."

Ms. Rivera will replace Kulwant Sandher who will remain a director of the Company.

Pursuant to the Company's Stock Option Plan, the Company granted to its new director and officer stock options to purchase 200,000 common shares of the Company exercisable at $1.08 per share for a period of five years. The options will vest quarterly over a period of two years.

ON BEHALF OF THE BOARD
Cloud Nine Education Group Ltd.

Allan Larmour
CEO
Tel: 604-669-9788
aclarmour@gmail.com

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contain herein.

Disclaimer for Forward-Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the use of proceeds of the Offering. Such statements are qualified in their entirety by the inherent risks and uncertainties that the proceeds of the Offering may be used other than as set out in this news release and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Cloud Nine Education Group Ltd.

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FAQ

What are the recent management changes at Cloud Nine (CLGUF)?

Cloud Nine has appointed Kant Trivedi to the Board of Directors and Nilda Rivera as Chief Financial Officer and Corporate Secretary.

What experience does Kant Trivedi bring to Cloud Nine (CLGUF)?

Kant Trivedi has over 20 years of experience in technology and blockchain sectors, previously leading operations at Blockfusion Technologies and Rogers Communications.

What is Nilda Rivera's background in finance related to Cloud Nine (CLGUF)?

Nilda Rivera has over 20 years in corporate finance and has served in key roles at several public companies, including Aurora Cannabis.

How might these appointments impact Cloud Nine (CLGUF)?

The appointments aim to strengthen Cloud Nine's growth strategy and improve financial governance.

Who did Nilda Rivera replace in her role at Cloud Nine (CLGUF)?

Nilda Rivera replaces Kulwant Sandher as Chief Financial Officer, while Kulwant remains a director.