SFLMaven Corp. Announces the Appointment of Chad MacKay as Chairman and CEO and Announces New Business Plan
SFLMaven Corp. (SFLM) has announced a significant transition following a change in control, appointing Chad MacKay as the new Chairman and CEO. MacKay, an experienced leader in private equity, will spearhead a new strategy focusing on acquiring breakthrough technology companies and licensing agreements. The company plans to divest its operating subsidiary, SFLMaven of Florida, LLC, by the end of November 2022. This restructuring aims to enhance shareholder value by targeting impactful technologies, including opportunities in lithium mining.
- Appointment of Chad MacKay as Chairman and CEO, leveraging his private equity experience.
- Focus on acquiring breakthrough technologies could lead to enhanced growth and shareholder value.
- Divestiture of non-core subsidiary may streamline operations and refocus resources.
- Resignation of former CEO Joseph Ladin could raise concerns about continuity in leadership.
- Potential gaps in experience in the new business direction may pose risks.
The Company will actively seek acquisitions or license agreements with breakthrough technology companies
FORT LAUDERDALE, FL, Nov. 15, 2022 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC Pink: SFLM) ("SFLMaven" or the "Company") (www.sflmaven.com), today announced that, following a change in control, Chad MacKay has been appointed as Chairman and CEO and the Company and will oversee the launch of the Company’s new business plan that focuses on acquisitions or technology licensing opportunities.
The Company will focus on identifying companies and/or technologies that could be impactful in their respective industries.
Mr. MacKay is the cofounder and managing partner of Loyal Companies, a private equity firm focusing on mergers and acquisitions. Prior to joining Loyal Companies, Mr. MacKay was founder and managing partner of Kai Data Companies.
Mr. MacKay has been actively involved as a director with other companies and organizations. Among the boards on which he serves currently and in the past are: Loyal Companies, Revvu, Cumulus, Cumulus Advanced Technologies, Kai Data, Vulcan7, Espresso Agent, Team Leads, Bear River Management Group, Kai Insurance, Synergy Holdings, RAD, Loyal Technologies, Trustee for Chase N' Heaven and Brother's Keeper.
Mr. MacKay has been active in philanthropy supporting children and families that have physical and/or mental challenges. He continues to work individually with those families and individuals to provide resources, tools, equipments, but most importantly support for the specific needs they have.
“I am very excited to become a part of SFLMaven Corp as the Company’s Chairman and CEO.” Said Mr. MacKay. “I have been in private equity for the past 15 years and have done a lot of exciting deals. Our team has built an impressive deal flow of prospects that could be acquired or technology that could be licensed by SFLM.”
Mr. MacKay continued, “Our goal will be to add acquisitions and/or licensing agreements to technologies that we believe will be accretive to the Company and our Shareholders. For example, we are working with one credible University on some amazing technologies in the lithium mining industry that could be really important to the future of electric batteries. Where it makes sense to focus on specific verticals, we will. If we find Companies that could benefit by being a part of the SFLM family of companies we will evaluate those. We have an aggressive team and look forward providing more detailed updates in the near future.”
The Company’s previous Chairman and CEO, Joseph Ladin, resigned as Chairman and CEO as part of these changes.
In addition, as part of the Company’s new business focus, the Company has determined to divest of its operating subsidiary, SFLMaven of Florida, LLC. The divestiture transaction is expected to `be completed by the end of November 2022.
About SFLMaven Corp.
SFLMaven Corp. is seeking acquisition or licensing opportunities with companies with breakthrough technologies.
Forward-Looking Statements
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2021. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.
Press Contact:
SOURCE: SFLMaven Corp.
Corporate Contact:
info@sflmaven.com
FAQ
What is the new business strategy of SFLMaven Corp.?
Who is the new CEO of SFLMaven Corp.?
What are the expected impacts of the leadership change at SFLMaven?
What is SFLMaven's plan regarding its subsidiary?
