Ynvisible Announces Appointment of Ramin Heydarpour as Interim CEO

Rhea-AI Summary

Ynvisible Interactive Inc. announces the resignation of its CEO, Michael Robinson, effective December 31, 2021, to pursue opportunities outside the IoT sector. Ramin Heydarpour, the Executive Chairman, will step in as Interim CEO to drive the company's product commercialization strategies. Robinson expressed gratitude for his time leading the company since September 2020, particularly during the pandemic. Heydarpour, with extensive experience from Flex R&D Inc. and Avery Dennison, aims to continue Ynvisible's growth in printed electronics and IoT solutions while a permanent CEO is sought.

Positive

• Ramin Heydarpour's extensive experience may bring new insights and strategies to Ynvisible.
• Continued focus on commercialization strategies could enhance revenue potential in the IoT market.

Negative

• Michael Robinson's departure may create concerns about leadership continuity.
• Interim leadership could lead to potential strategic uncertainties during the transitional period.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF), a fast-growing firm in the Internet of Things (IoT) market, announces that effective December 31, 2021, Michael Robinson has resigned as Chief Executive Officer of the Company in order to pursue an opportunity outside the Internet of Things industry. Ramin Heydarpour, Ynvisible’s Executive Chairman, will assume the role of Interim Chief Executive Officer to focus on the commercialization of Ynvisible’s products.

“This was a difficult decision that I reached after much reflection. It has been a privilege working as CEO, shoulder-to-shoulder with the best team in the business since September 2020. I am proud of all we have accomplished together to serve our investors and clients. I want to thank the team and the Board of Directors for their support,” said Mr. Robinson.

Ramin Heydarpour, Executive Chairman, stated, “On behalf of the Board, we thank Mr. Robinson for his service and accomplishments during his tenure as CEO, particularly during the COVID-19 pandemic. We wish Michael the very best. I am most confident of Ynvisible’s 1-3 year commercial strategies and I take on the CEO role with a view to execute on those strategies whilst the Company finds a seasoned executive to serve as a successor to Mr. Robinson.”

About Ramin Heydarpour

Ramin Heydarpour, who has served on Ynvisible’s board of directors since December 2020, is founder and managing partner of Flex R&D Inc., a California-based engineering consulting firm with deep expertise in roll-to-roll process and product development. He was previously Global Vice President with AveryDennison, where he led the development of innovative products in food packaging, brand identification, office and consumer products.

He has a track record of inventing and developing new products in a broad range of applications, including flexible packaging, RFID tags, and pressure-sensitive labels. He holds 26 patents. Various leadership positions at Fortune 500 companies in the past 25 years has provided Mr. Heydarpour with a broad perspective and a clear insight in the following areas:

• Building effective R&D organization and growing technical talent
• Alignment of technical capabilities with business strategy
• Connecting unmet market needs to technical solutions
• Efficient development and scale-up of new products

About Ynvisible Interactive Inc.

Ynvisible aims to be a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has the experience, know-how and intellectual property in electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com

ON BEHALF OF THE BOARD OF DIRECTORS
Ramin Heydarpour
Executive Chairman
Ynvisible Interactive Inc.

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

Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Ynvisible Interactive Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Ynvisible Interactive Inc. management on the date the statements are made. Except as required by law, Ynvisible Interactive Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220105006006/en/

Investor Relations

Elyssia Patterson

+1 778-683-4324

ir@ynvisible.com

Source: Ynvisible Interactive Inc.

FAQ

What led to the resignation of Michael Robinson as CEO of Ynvisible Interactive Inc.?

Michael Robinson resigned to pursue an opportunity outside the Internet of Things sector.

Who is the new Interim CEO of Ynvisible Interactive Inc.?

Ramin Heydarpour, the Executive Chairman, has assumed the role of Interim CEO.

What are the immediate plans for Ynvisible under Interim CEO Ramin Heydarpour?

Heydarpour will focus on the commercialization of Ynvisible's products while searching for a permanent CEO.

When did Michael Robinson resign as CEO of Ynvisible Interactive Inc.?

Michael Robinson's resignation took effect on December 31, 2021.

What is the experience of Ramin Heydarpour in leading Ynvisible Interactive Inc.?

Ramin Heydarpour has a track record in product development and leadership roles at Fortune 500 companies, enhancing his capability to lead Ynvisible.