HPIL(HPIL) Announces Shareholders Meeting Changed

Rhea-AI Summary

HPIL Holding (OTC: HPIL) has rescheduled its shareholders meeting to June 16, 2022, at 2 PM PST, to provide more time to finalize plans and share substantial updates. The company must post audited annual financial statements to lift a cease trade order by the BCSC, with audits currently underway. CEO Stephen Brown noted terminations of Mr. Lord Ferrox Tutinean and Mr. Micheal Torrey due to violations of company policies. The upcoming conference call is anticipated to outline the company's strategic direction in the EV, Gaming, and Blockchain sectors.

Positive

• Rescheduled shareholders meeting allows for better preparation and important updates.
• Conducting audits to lift the cease trade order reflects commitment to regulatory compliance.
• CEO's engagement in strategic planning showcases proactive leadership.

Negative

• Cease trade order indicates previous compliance issues that may affect investor confidence.
• Termination of key personnel raises concerns about internal stability and management effectiveness.

VANCOUVER, BC, June 8, 2022 /PRNewswire/ -- HPIL Holding (the "Company") (OTC: HPIL) announces that it will be moving the shareholders meeting to June 16^th at 2:PM PST to give the company more time to formulate its ongoing plans and announce more substantial factual information on what is transpiring with the company and its plans moving forward.

"We have been informed by the OTC that in order to have the BCSC cease trade order revoked they require HPIL to post audited annual financial statements. We are in the process of conducting the audit and fully expect it to be completed soon", said Stephen Brown CEO.

Additionally, on June 2, 2022, the Chief Executive Officer, and Chairman of the Board of Directors, Stephen Brown, presented a letter of termination to Mr. Lord Ferrox Tutinean due to Mr. Tutinean's failure to adhere to Mr. Tutinean's employment agreement and HPIL's policies. Further, the employment of Mr. Micheal Torrey has been terminated on the same day due to Mr. Torrey's failure to adhere to his employment agreement and HPIL's policies. Both Mr. Tutinean and Mr. Torrey have acted in manners against the Company and against the interests of the Company's shareholders.

"The company is aware of what is necessary for the company to be on track within the markets it is operating in such as EV, Gaming and Blockchain transactions. We expect to have a robust plan for this forthcoming conference call and truly appreciate the shareholder patience in a somewhat trying time, however myself and David Postula are diligently putting aggressive plans in to place", said Stephen Brown CEO.

HPIL next conference call will be on June 16^th, 2022 Conference call link: https://www.hpilholding.ca/ 

Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.

For more information:  info@hpilholding.ca 
www.hpilholding.ca 
Contact: Stephen Brown, CEO, 778-819-1956


 

View original content:https://www.prnewswire.com/news-releases/hpilhpil-announces-shareholders-meeting-changed-301564457.html

SOURCE HPIL Holding

FAQ

Why was HPIL's shareholders meeting postponed to June 16, 2022?

The meeting was postponed to provide more time for HPIL to finalize ongoing plans and share substantial updates with shareholders.

What must HPIL do to lift the cease trade order?

HPIL needs to post audited annual financial statements as required by the BCSC to lift the cease trade order.

Who was terminated from HPIL and why?

Mr. Lord Ferrox Tutinean and Mr. Micheal Torrey were terminated due to their failure to adhere to their employment agreements and company policies.

What sectors is HPIL focusing on moving forward?

HPIL is focusing on the EV, Gaming, and Blockchain sectors as part of its strategic planning.

What is the date and time for HPIL's next conference call?

HPIL's next conference call is scheduled for June 16, 2022, at 2 PM PST.