Sortis Holdings Provides Business Update on Board of Director Changes

Rhea-AI Summary

Sortis Holdings, Inc. (OTC: SOHI) announced the resignation of independent directors Stan Morris and Gary Delorit, effective January 17, 2022. After 27 years of service, their departure aligns with Sortis's shift towards becoming a scalable platform of lifestyle brands. Executive Chairman Paul Brenneke indicated plans for new board appointments with lifestyle industry expertise to enhance the company's vision. Sortis aims to combine creative vision with business acumen across multiple sectors, including hospitality, coffee, food and beverage, and wellness.

Positive

• Strategic board realignment to support a focused vision on lifestyle brands.
• Potential for new board members with relevant industry expertise to drive growth.
• Commitment to scaling operations across diverse sectors like hospitality and wellness.

Negative

• None.

PORTLAND, Ore., March 25, 2022 (GLOBE NEWSWIRE) -- Sortis Holdings, Inc. (OTC: SOHI) (“Sortis” or the “Company”), a platform enabling highly scalable, experiential lifestyle brands to accelerate growth and impact, has announced the resignation of two independent directors, Stan Morris and Gary Delorit, effective January 17, 2022.

Morris and Delorit were founding directors for the legacy banking and fund management businesses. They are retiring following their 27 years of service and in conjunction with Sortis’s strategic transition to a collection of scalable lifestyle brands.

“As we continue to position Sortis as a platform business with a focus on brands that spark conversation and move culture forward, we are also aligning our board of directors with the new vision,” said Paul Brenneke, Executive Chairman of Sortis. “With Stan and Gary’s retirement, we anticipate announcing appointments of additional board members who will bring relevant lifestyle industry expertise. I’d like to thank Stan and Gary for their invaluable contributions to our board over the past three decades, and we wish them the best of luck in their future endeavors.”

About Sortis Holdings, Inc.
Sortis Holdings, Inc. (OTC: SOHI) is becoming a collection of brands that combine creative vision with business acumen. Sortis intends to power its brands across hotel & lodging, coffee, food & beverage, and beauty & wellness to drive culture forward, uniting purpose and profit to thoughtfully scale its companies and offer exceptional experiences to its customers. To learn more about Sortis, please visit sortisholdings.com.

Forward-Looking Statements Disclaimer
Certain statements in this press release are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, are forward-looking, including statements: regarding future operations of businesses recently acquired by Sortis; potential future acquisitions; attributes of the Sortis platform; and growth opportunities. These forward-looking statements are subject to a number of risks and uncertainties, including the inability of the parties to successfully or timely complete proposed or desired transaction; failure to realize the anticipated benefits of proposed transactions; the challenges with managing a diversified business portfolio; and risks associated with the acquired businesses, including changes in customer behavior or government regulation to address COVID-19. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

Investor Relations Contact
Gateway Investor Relations
Cody Slach and Cody Cree
949-574-3860
SOHI@gatewayir.com

FAQ

What changes occurred in Sortis Holdings' leadership?

Sortis Holdings announced the resignation of independent directors Stan Morris and Gary Delorit effective January 17, 2022.

What is the strategic focus of Sortis Holdings after the board changes?

Sortis aims to transition into a platform of scalable lifestyle brands, enhancing growth and cultural impact.

How long did Morris and Delorit serve on the board of Sortis Holdings?

Morris and Delorit served for 27 years before their resignation.

What sectors does Sortis Holdings plan to operate in?

Sortis intends to focus on sectors including hotel & lodging, coffee, food & beverage, and beauty & wellness.