Newtopia Appoints Collin Swenson as Chief Financial Officer
Newtopia Inc. announced the appointment of Collin Swenson as the new Chief Financial Officer, effective immediately, succeeding Edmond Lem. Swenson brings over 15 years of experience in financial leadership, previously holding key roles at companies like General Electric and Valeo. CEO Jeff Ruby expressed gratitude for Lem's contributions and excitement about Swenson’s expertise, highlighting it as beneficial for the company's growth and shareholder value enhancement. Newtopia focuses on chronic disease prevention through innovative health solutions.
- Appointment of Collin Swenson as CFO brings over 15 years of financial leadership experience.
- Swenson's background includes significant roles in major healthcare and technology firms.
- Leadership change is expected to strengthen Newtopia's growth trajectory.
- Transition from interim CFO could introduce temporary continuity concerns.
TORONTO, May 2, 2022 /PRNewswire/ - Newtopia Inc. ("Newtopia" or the "Company") (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled habit change provider focused on preventing, slowing and reversing chronic disease, today announced the appointment of Collin Swenson as the Company's new Chief Financial Officer, effective immediately. Mr. Swenson succeeds Edmond Lem, Interim Chief Financial Officer.
"On behalf of our entire team and Board of Directors, I would like to thank Edmond for his invaluable contributions to Newtopia during his time as our Interim CFO. Edmond has been an integral part of the team since we became a publicly listed company, and he will continue to support Newtopia as our Senior Vice President of Finance," said Jeff Ruby, Founder and CEO of Newtopia. "We are also thrilled to welcome Collin Swenson as our new Chief Financial Officer. Collin brings a wealth of experience leading finance operations for innovative U.S. healthcare and technology companies. His strong background in financial management and operations will be a tremendous asset to our team," Mr. Ruby concluded.
Collin Swenson brings over 15 years of financial leadership experience at both public and private companies to Newtopia, including roles in operations, capital raising, M&A, financial planning and accounting. Mr. Swenson began his career at General Electric, graduating from the company's prestigious Financial Management Program prior to holding various Treasury, Financial Planning & Analysis (FP&A) and Operational Finance roles at GE Healthcare and GE Capital over a ten year period. Subsequently, Mr. Swenson played a key supporting finance role as part of Ally Financial's 2014 initial public offering in which the company raised over US
"I am thrilled to join Newtopia, a company that is a fantastic fit for me on both a personal and professional level," said Mr. Swenson. "My time working in the U.S. healthcare system, coupled with the global pandemic, further solidified my belief that we need to drastically change the focus of healthcare from caring for the sick to preventing and slowing chronic disease in the first place. Newtopia is a proven leader in promoting that mission for the benefit of individuals and health insurers alike, and I look forward to partnering with Jeff and the entire Newtopia team to build upon the Company's growth trajectory while promoting shareholder value."
Newtopia is a tech-enabled habit change provider focused on disease prevention and reducing the cost of care for health insurers. As a provider of whole person care, we prevent, reverse and slow the progression of chronic disease while enriching mental health, resilience and overall human performance. Newtopia's programs leverage genetic, social and behavioral insights to create individualized prevention programs with a focus on type 2 diabetes, heart disease, stroke and weight. With a person-centered approach that combines virtual care, digital tools, connected devices and actionable data science, Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves some of the largest nationwide employers and health plans and is currently listed on the Toronto Stock Exchange and quoted on the OTC Venture Market in the U.S. (TSXV: NEWU) (OTCQB: NEWUF). To learn more, visit newtopia.com, LinkedIn or Twitter.
This press release contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, and forward looking statements, within the meaning of applicable United States securities legislation (collectively, "forward-looking statements"), which reflects management's expectations regarding Newtopia's future growth, results from operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects and opportunities. Wherever possible, words such as "predicts", "projects", "targets", "plans", "expects", "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Newtopia's current views and intentions with respect to future events, based on information available to Newtopia, and are subject to certain risks, uncertainties, and assumptions. Material factors or assumptions were applied in providing forward-looking information. While forward-looking statements are based on data, assumptions and analyses that Newtopia believes are reasonable under the circumstances, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. These forward-looking statements include, among other things, TSXV approval of the Offering, the use of proceeds from the Offering, statements relating to Newtopia's business plans and outlook. Forward-looking statements are not a guarantee and are based on a number of estimates and assumptions management believes to be relevant and reasonable, whether actual results, performance or developments will meet Newtopia's expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of Newtopia to differ materially from its expectations. Certain of the "risk factors" that could cause actual results to differ materially from Newtopia's forward-looking statements in this press release include, without limitation: the termination of contracts by clients, risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in Newtopia's disclosure documents, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com including Newtopia's final long form prospectus dated March 30, 2020.
Should any factor affect Newtopia in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Newtopia does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and Newtopia undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Neither the 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 news release.
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SOURCE Newtopia Inc.
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