Charles R. Provini Appointed Independent Director & Chairman of SMC

Rhea-AI Summary

SMC Entertainment Inc. (OTC:SMCE) announced the appointment of Charles R. Provini as Independent Chairman, increasing the Board from two to three directors. Provini's extensive experience spans asset management, investment banking, and technology, bringing valuable insights for the company’s growth strategy. He has held key leadership roles in various firms, including Natcore Technology Inc. and Ladenburg Thalmann. Executive Directors emphasized that Provini's leadership will guide SMC through its fintech-driven acquisition strategy as they aim to enhance revenues and shareholder equity.

Positive

• Appointment of Charles R. Provini as Independent Chairman could strengthen corporate governance and strategic direction.
• Provini's extensive experience in asset management and technology could provide valuable insights for growth.
• Expansion of the Board from two to three directors may improve decision-making and oversight.

Negative

• None.

Point Roberts, WA, Dec. 15, 2021 (GLOBE NEWSWIRE) -- SMC Entertainment Inc. ("SMC" or the "Company," OTC:SMCE), a fully integrated financial technology company with a full suite of digital financial services solutions, today announced the Board of Directors of the Company increased the size of its Board from two to three directors and appointed Charles R. Provini as an Independent Chairman. Under NYSE and NASDAQ listing standards, Mr. Provini will be compensated for his services on the Board in cash and stock-based equity. The Company currently has two executive directors, Ronald E Hughes and Warwick Kerridge.

Mr. Provini brings stellar leadership and governance experience spanning several decades, starting from United States Naval Academy to the private sector. He brings deep insights into asset management, investment banking, advisory services, and technology. He is a frequent speaker at financial seminars and has appeared on several mainstream media outlets discussing financial markets and, more recently, the solar industry.

"I am honored to be appointed as Chairman of the Board and look forward to taking a very active role in growing, what I feel, is an organization that the international markets truly need. The group of individuals assembled reflect many years of experience and success patterns that I am confident we can leverage to even greater success as a result of this merger." said Charles R. Provini, newly appointed Chairman of the Board.

From May 2009 to present, Mr. Provini holds the Chairman, CEO, and President positions of Natcore Technology Inc., a research and development company protecting 65 patents, granted and or pending. From November 1997 to October 2000, he was the President of Ladenburg Thalmann Asset Management and a Director of Ladenburg Thalmann, Inc., one of the oldest members of the New York Stock Exchange. He served as President of Laidlaw Asset Management and Chairman and Chief Investment Officer of Howe & Rusling, Laidlaw's Portfolio Management Advisory Group, from November 1995 to September 1997. Before this, he served as President of Rodman & Renshaw's Advisory Services from February 1994 to August 1995. He was the President of LaSalle Street Corporation, a wholly-owned subsidiary of Donaldson, Lufkin & Jenrette, from January 1983 to April 1985. Mr. Provini has been a leadership instructor at the U.S. Naval Academy, Chairman of the U.S. Naval Academy's Honor Board, and is a former Marine Corp. Officer. Mr. Provini holds an undergraduate Engineering degree from The U.S. Naval Academy in Annapolis, Maryland, and a post-graduate degree from the University of Oklahoma.

“Chuck and I have worked together for some time and it has been a pleasure to observe his skills and insights. His understanding of thre Genesis business and its growth objectives will be invaluable to our company and I was delighted that he accepted my invitation to join our board. Chuck will not only be a leader but will take an ongoing role to guide and assist us into what will be an exciting period of growth and development. The move to a superior market will only be enhanced with the benefits of the experience of someone like Chuck” observed Warwkick Kerridge, Executive Director.

“I'm very honored and pleased to welcome Mr. Provini to the Board of Directors. As a proven leader in his illustrious career, Mr. Provini has in-depth knowledge when providing oversight and governance. As we continue to execute our fintech-driven acquisition strategy, we look to working closely with Mr. Provini, who can supervise our strategic initiatives, audit, and risk management," said Ron Hughes, CEO “ providing oversight while stearing this growing company.”

About Genesis Financial, Inc.

Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. In 2021 SMC acquired Genesis Financial, Inc., a diversified financial services company focusing on fintech-powered wealth management business. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
Chief Executive Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

FAQ

What recent change occurred in SMC Entertainment's Board of Directors?

SMC Entertainment increased its Board size from two to three directors and appointed Charles R. Provini as Independent Chairman.

Who is Charles R. Provini in relation to SMC Entertainment?

Charles R. Provini has been appointed as the Independent Chairman of the Board at SMC Entertainment.

What is the stock symbol for SMC Entertainment?

The stock symbol for SMC Entertainment is SMCE.

What implications does Provini's appointment have for SMC Entertainment?

Provini's appointment could enhance corporate governance and support SMC's fintech-driven acquisition strategy.

What is the focus of SMC Entertainment’s business strategy?

SMC Entertainment focuses on acquiring and supporting proven commercialized financial services and technology companies.