Clip Money Inc. Announces Changes to Board of Directors

Rhea-AI Summary

Clip Money Inc. announces the resignation of Mr. Daren Trousdell as a director and the appointment of Mr. Stuart Mackinnon to the board of directors. Mr. Trousdell was a co-founder and key contributor to the Company, while Mr. Mackinnon brings valuable experience as the COO of NCR Atleos. The Company expresses gratitude to Mr. Trousdell and looks forward to leveraging Mr. Mackinnon's expertise.

TORONTO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (“Clip” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, announces today that Mr. Daren Trousdell has resigned as a director of the Company effective immediately. Mr. Trousdell is a co-founder of Clip and has been a key contributor to the Company since its inception, including serving as a board member, chair of the Governance, Human Resources & Compensation Committee and as a member of the Audit Committee.

The Company is pleased to announce the appointment of Mr. Stuart Mackinnon to the board of directors of the Company. Mr. Mackinnon currently serves as the chief operating officer of NCR Atleos (NYSE: NATL) where he has shown himself to be an exceptional leader with strong strategic vision. His experience at NCR Atleos in matters of overseeing corporate functions, product development, technology, and delivery of services to customers will be invaluable to the board and the Company. Prior to his current role, Mr. Mackinnon served as Executive Vice President of ATM Group at NCR Banking. The Company is excited to leverage Mr. Mackinnon’s guidance and extensive breadth of experience to continue driving the Company forward.

"With deep appreciation for Daren's contributions, I want to acknowledge the dedication and expertise he brought to our board and company. As we bid farewell to Daren in his capacity as a board member, we extend our heartfelt thanks for his efforts and contribution. We are excited to welcome Stuart as an accomplished addition to our team."

- Joe Arrage (CEO & Co-founder)

About Clip Money Inc.

Clip operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.

For further information, please contact:

Joseph Arrage
Chief Executive Officer
tel: 844-593-2547

FAQ

Who resigned from Clip Money Inc.?

Mr. Daren Trousdell resigned from Clip Money Inc.

Who has been appointed to the board of directors of Clip Money Inc.?

Mr. Stuart Mackinnon has been appointed to the board of directors of Clip Money Inc.

What is Mr. Mackinnon's current role?

Mr. Stuart Mackinnon currently serves as the chief operating officer of NCR Atleos.

What experience does Mr. Mackinnon bring to the board?

Mr. Mackinnon has experience in overseeing corporate functions, product development, technology, and delivery of services to customers.

Who expressed gratitude to Mr. Trousdell and welcomed Mr. Mackinnon?

Joe Arrage, the CEO & Co-founder of Clip Money Inc., expressed gratitude to Mr. Trousdell and welcomed Mr. Mackinnon.