Tiny Appoints Mike McKenna as Chief Financial Officer

Rhea-AI Summary

Tiny (TSXV: TINY) has appointed Mike McKenna as its new Chief Financial Officer, effective immediately. McKenna will oversee finance, accounting, HR, and investor relations, reporting directly to CEO Jordan Taub.

McKenna brings over two decades of experience in corporate finance, having previously served as CFO of LifeSpeak and Mobile Klinik. His notable achievements include leading LifeSpeak through its IPO in 2021 and the sale of Mobile Klinik to TELUS.

McKenna succeeds David Charron, who has served as CFO for three years. As part of the transition, Tiny will issue 157,434 common shares to Charron at $2.14 per share, pending TSX Venture Exchange approval, with a four-month hold period.

Positive

• Mike McKenna's extensive experience in finance and capital markets, including leading IPOs and acquisitions, strengthens Tiny's leadership.
• McKenna's appointment is expected to bring new insights and strategies, potentially driving growth and long-term shareholder value.

Negative

• The transition period may involve risks related to continuity and changes in financial strategy, which could impact short-term stability.

Vancouver, British Columbia--(Newsfile Corp. - July 3, 2024) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company"), a Canadian holding company, today announced the appointment of Mike McKenna as Chief Financial Officer ("CFO"), effective immediately. In this role, McKenna will lead all aspects of finance, accounting, HR and investor relations to support the growth and financial discipline of the business. He will report directly to Tiny's CEO, Jordan Taub.

"We could not be more excited to welcome Mike to the Tiny team," said Taub. "Mike's extensive financial background in capital markets and tenure as CFO of a public company make him an excellent addition to the company. We look forward to collaborating with him to help guide Tiny into its next chapter."

McKenna is a seasoned executive with over two decades of experience in corporate finance, primarily with publicly traded companies. Most recently, Mike served as CFO of LifeSpeak Inc., a TSX-listed SaaS based digital healthcare and education business. During his tenure at LifeSpeak, McKenna oversaw the company's financial strategy as well as acquisitions, and successfully led them through their IPO in 2021. Prior to LifeSpeak, McKenna served as CFO of Mobile Klinik Inc., where he was responsible for raising capital, financial strategy, and M&A, including the successful sale of the company to TELUS. McKenna boasts over a decade of experience in investment banking and previously held the position of Director at Scotiabank, leading the technology, media, and telecom group.

"After a thorough external search for a new CFO and after months of getting to know Mike and hearing about his stellar reputation as an accomplished CFO and leader, we are thrilled to be welcoming him to the team," said Andrew Wilkinson, co-founder and chairman of Tiny. "Mike's insights and experience will be extremely valuable in helping Tiny continue to capitalize on new opportunities and deliver long-term value to our shareholders."

"Andrew and Chris have built an exceptional company and I'm honored to be joining the team," said Mike McKenna, CFO of Tiny. "I'm excited about Tiny's business model, market position, and growth potential. I am very much looking forward to working in partnership with Jordan and the executive team to support Tiny's strategic vision."

McKenna succeeds David Charron, who has served as Tiny and its predecessor WeCommerce's CFO for the past three years. "We are deeply grateful for David's contributions during this tenure," said Chris Sparling, cofounder of Tiny. "His dedication has been instrumental to the company, including shepherding Tiny and WeCommerce through the RTO, and we wish him all the best in his next endeavor."

In connection with the CFO transition and David's departure, the Company has agreed to issue an aggregate of 157,434 common shares of the Company to David Charron at an issue price of $2.14 per share, subject to the approval of the TSX Venture Exchange. The common shares issued to David Charron will be subject to a statutory four month hold period from the date of issuance.

About Tiny

Tiny is a Canadian-based investment company focused primarily on acquiring majority stakes in businesses that it expects to hold over the long-term. The Company is structured to give maximum flexibility to operating management teams by maintaining a focus at the parent company level on only two areas: capital allocation and operating management hiring and incentivization. This structure enables operators to do what they do best, within an incentive structure that is designed to drive results for both the operating business and ultimately for Tiny and its shareholders.​

Tiny currently has three principle reporting segments: Digital Services, which provides design, engineering, brand positioning and marketing services to help companies of all sizes deliver premium web and mobile products​; E-Commerce Platform, which is home to a complementary portfolio of recurring revenue software businesses that support merchants, as well as digital themes businesses that sell templates to Shopify merchants​; and Creative Platform, which is comprised primarily of Dribbble, the leading social network for designers and digital creatives, as well as a premier online marketplace for digital assets such as fonts and templates.​

For more information, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's SEDAR+ profile at www.sedarplus.ca.

Company Contact:
Mike McKenna
Chief Financial Officer
(416) 938-0574
Mike@tiny.com

Cautionary Note Regarding Forward-Looking Information:

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-Looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company.

Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are more fully described in the Company's most recent MD&A as well as the list of risk factors in the Company's Annual Information Form dated April 30, 2024 available on SEDAR+ at https://www.sedarplus.ca under the Company's profile.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215296

FAQ

When was Mike McKenna appointed as CFO of Tiny (TNYZF)?

Mike McKenna was appointed as CFO of Tiny (TNYZF) on July 3, 2024.

What is Mike McKenna's background before joining Tiny (TNYZF)?

Mike McKenna has over two decades of experience, previously serving as CFO of LifeSpeak and Mobile Klinik. He has led significant financial strategies, including IPOs and acquisitions.

What are the immediate changes following Mike McKenna's appointment as CFO of Tiny (TNYZF)?

Mike McKenna will immediately oversee finance, accounting, HR, and investor relations, reporting directly to CEO Jordan Taub.

What is the significance of the share issuance to David Charron during the CFO transition at Tiny (TNYZF)?

Tiny will issue 157,434 common shares to David Charron at $2.14 per share, subject to TSX Venture Exchange approval, with a four-month hold period, in connection with the CFO transition.

How might Mike McKenna's appointment as CFO impact Tiny (TNYZF)'s future growth?

McKenna's extensive financial expertise and successful track record in capital markets and acquisitions are expected to provide valuable insights and drive Tiny's growth.