Mene Inc. Announces Change in CFO

Rhea-AI Summary

Menē Inc. (TSX-V:MENE) (US:MENEF), an online 24 karat jewelry brand, has announced a change in its Chief Financial Officer position. Sean Ty has been appointed as the new CFO, replacing Gavin Johnson, who resigned for personal reasons. The change is effective immediately.

Mr. Ty brings a diverse background to the role. He began his career at Ernst and Young, working in the commercial real estate, technology, and financial services audit team. He has experience managing financial reporting, IFRS, and finance operations for several Canadian listed companies in the technology and natural resource sectors. Mr. Ty holds a Bachelor of Science Degree from the University of British Columbia and is a Chartered Professional Accountant.

The company expressed gratitude to Mr. Johnson for his dedicated service and extended a warm welcome to Mr. Ty in his new role.

Positive

• Appointment of a new CFO with diverse experience in financial reporting and operations
• New CFO has experience with Canadian listed companies in technology and natural resource sectors
• Smooth transition in leadership with immediate effect

Negative

• Unexpected departure of previous CFO, which could potentially disrupt financial operations

TORONTO--(BUSINESS WIRE)-- Menē Inc. (TSX-V:MENE) (US:MENEF) (“Menē” or the “Company”), an online 24 karat jewelry brand, today announced that Sean Ty has been appointed Chief Financial Officer of the Company in place of Gavin Johnson, effective immediately, following Mr. Johnson’s resignation as CFO for personal reasons.

Mr. Ty began his career at Ernst and Young within the commercial real estate, technology, and financial services audit team. Mr. Ty subsequently managed the financial reporting, IFRS, and finance operation for several Canadian listed companies involved in the technology and natural resource sector. Mr. Ty holds a Bachelor of Science Degree from the University of British Columbia and is a Chartered Professional Accountant.

The Company thanks Mr. Johnson for his dedicated service to the Company and wishes him very well in his future endeavours and would like to further extend a warm welcome to Mr. Ty.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.

For more information about Menē, visit mene.com.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to its business plans and goals of the Company for the current financial year, the hiring of new management, estimated potential year over year growth, marketing plans and the announcement of future plans and milestones.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict and counteract the effects of COVID-19 or other pandemics on the business of the Company, including but not limited to the effects of COVID-19 and other infectious diseases presenting as major health issues and impacting the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007642450/en/

Media and Investor Relations Inquiries:

Gavin Johnson

Chief Financial Officer

Menē Inc.

ir@mene.com

+1 289 748 3702

Source: Menē Inc.

FAQ

Who is the new CFO of Menē Inc. (MENEF)?

Sean Ty has been appointed as the new Chief Financial Officer of Menē Inc. (MENEF), effective immediately.

What is Sean Ty's background before joining Menē Inc. (MENEF)?

Sean Ty began his career at Ernst and Young in the commercial real estate, technology, and financial services audit team. He has experience managing financial reporting, IFRS, and finance operations for Canadian listed companies in the technology and natural resource sectors.

Why did Gavin Johnson resign as CFO of Menē Inc. (MENEF)?

Gavin Johnson resigned as CFO of Menē Inc. (MENEF) for personal reasons, as stated in the company's announcement.

What are Sean Ty's qualifications for the CFO position at Menē Inc. (MENEF)?

Sean Ty holds a Bachelor of Science Degree from the University of British Columbia and is a Chartered Professional Accountant, with experience in financial reporting and operations for Canadian listed companies.