Zoompass Announces Board and Management Changes as it Looks Forward to Canadian Public Listing
Zoompass Holdings announces significant management changes as it prepares for a public listing in Canada. Effective January 31, 2022, current CEO Manny Bettencourt will step down to pursue other opportunities, with COO Bharat Vivek appointed as the Interim CEO. The board will welcome new members, including Kris Partiban, Jerry Parmar, and Robert McGowan. These changes aim to enhance the board's independence and diversity, supporting the company's strategic direction towards expanding its blockchain and payment technology platforms.
- Appointment of Bharat Vivek as Interim CEO, expected to maintain continuity and strategic direction.
- Addition of experienced board members enhancing governance and industry expertise.
- Leadership change may raise concerns about continuity and operational stability.
VANCOUVER, BC / ACCESSWIRE / January 24, 2022 / Zoompass Holdings Inc. (Formerly OTCQB:ZPAS- Exempt) (the "Company" or "Zoompass") a leading developer of blockchain and payments technology platforms. The Company is pleased to announce the addition of several new board members and additional management changes as it continues on its path to a Canadian public listing over the next several months.
As the company continues with its plans to go public on a recognized Canadian exchange over the next few months, the company has decided to increase the independence and diversity of its board of directors and reorganize its management group.
Zoompass is pleased to formally announced that Kris Partiban, Jerry Parmar and Robert McGowan will be join the company's board of directors effective February 1, 2022. In addition, the Company's current CEO and board member Manny Bettencourt will be stepping down from his roles as corporate director and CEO effective Jan 31, 2022, to pursue other opportunities.
The Company is pleased to announce that its current COO Mr. Bharat Vivek has been appointed Interim CEO effective January 31, 2022 and will split his time between Canada and his continued responsibilities in India.
Mr. Bettencourt has agreed to remain a strategic advisor to the Board of Directors and company management. "The company thanks Mr. Bettencourt for his leadership and for all his hard work in helping to turn the business around and setting it on its current course for future successes." Mr. Steve Roberts, Chairman of the Board of Zoompass.
A summary biography of the new management and board members follows:
Bharat Vivek - Interim Chief Executive Officer (Interim CEO)
Mr. Vivek has been Zoompass COO since the acquisition of Blockgration Global Corp and its subsidiaries in 2020. Mr. Vivek is an accomplished business leader and entrepreneur with more than 15 years of experience in the financial services, payment, retail, healthcare, telecom, energy and utilities sectors. He has successfully managed and led engagements in strategy, finance, operations, and technology, both in North America and internationally.
Mr. Vivek has demonstrated strong leadership abilities across various roles including leading key strategic deals while working at PwC Canada. He also serves as the CEO of Moxie Holdings Private Ltd., which manages technology focused companies in various sectors.
Mr. Vivek earned his Master of Business Administration from York University, Schulich School of Business in Toronto.
Robert S McGowan
Mr. Robert McGowan is COO and founding member of Rockwood Digital Assets, Inc. (RDA) and has over 20 years' experience in the development of disruptive banking, payment, and compliance platforms, with significant experience in systems development, finance, insurance, marketing, and global business consulting. Mr. McGowan has a vast number of international contacts and has worked extensively with private and world body organizations to develop solution to complex payment and compliance issues.
Jerry Parmar
Mr. Jerry Parmar has over 15 years in public markets with specialties in all the major exchanges in Canada and the USA. With a work background in Marketing and Sales, Mr. Parmar has been actively engaged in Canadian and US pubcos for the last 5 years. GRAFAFAP Inc was founded by Mr. Parmar and his partner to help Canadian pubcos with a wide range of investor relations aspects such as Social Media marketing and key exposure and distribution of company news to networks that have been established over the last 15 years. With a combination of both personal and business relationships made in the field, Mr. Parmar is able to actively use his network to develop client relationships and investor awareness campaigns on a long term basis.
Kris Partiban
Mr. Kris Parthiban has over 20 years of senior executive experience in operations to general management and corporate finance in varied industries. Mr. Partiban has held senior positions in several corporations: Board Director, CEO and COO at Imex System Inc., Director of Engineering at Hallmark Cards, Vice President of Human Resources and Planning at Newstar Technologies, President of Crystonics Limited, a fiber optics company. Currently Mr. Partiban holds the position as CEO of OneQode International Ltd., a division of OneQode Holdings Ltd., an internet infrastructure company. He has served in business and community services organizations. Mr. Partiban has M. Eng. and an M.B.A degree from McMaster University, Hamilton, Ontario.
"It has been a privilege to work side by side with the Shareholders, Board. Executive team, founders and management teams of our subsidiaries, as well as the Zoompass stakeholders over the last few years; as we collectively move forward towards executing our shared vision for the company", commented Manny Bettencourt, "We welcome the new board members and management and wish they much success."
For further information concerning the Company, please refer to the Company's website at www.zoompass.com.
About Zoompass
Zoompass operates as a technology and infrastructure provider (Platform as a Service - PaaS) to hasten crypto and fiat payment networks through our blockchain technology, 3rd party integrations and the development of strategic partnerships to connect various verticals in multiple markets to create a global ecosystem.
Zoompass Safe Harbor Statement
Certain statements contained within this release are considered to be forward-looking under the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties including, but not limited to, the risk that any projections or guidance, including revenues, margins, earnings, or any other financial results are not realized, the impact of changes in tariffs, adverse changes in the global economic conditions, significant volume reductions from key contract customers, financial stability of key customers and suppliers, and availability or cost of raw materials. Forward-looking statements can often be identified by words such as "anticipates, " "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expression, and variations or negatives of these words. These forward-looking statements are not guaranteeing of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Zoompass are contained in the Company's Form 10-k filing for the fiscal year ending in December 31, 2020, and other filings with the Securities and Exchange Commission.
Neither the SEC nor its Regulation Services Provider (as that term is defined in the policies of the SEC) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Additional information about the Company is available at www.zoompass.com.
For more information, please contact:
Investor Relations, ir@zoompass.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the Company's goals and objectives, including the anticipated benefits of the Continuance on the Company and the potential to apply to list the Company's shares on a Canadian exchange.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: impacts arising from the global disruption caused by the COVID-19 coronavirus outbreak; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of technology, platform development and technology sales and licensing as well as associated regulations in the areas of crypto and tokenization; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on new and unregulated technology and solutions; employee relations; and relationships with and claims by local regulators. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this or any news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: Zoompass Holdings, Inc.
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