Internet of Things Inc. Shareholders Approve All Matters at Annual Meeting
TORONTO, Dec. 13, 2018 (GLOBE NEWSWIRE) — Internet of Things Inc. (TSX VENTURE: ITT; OTC: INOFT; FRANKFURT: 7IT) (“IoT Inc.” or the “Company”) a strategic investor and operator of emerging technology companies with innovative IoT, AI and Blockchain solutions, is pleased to announce that all matters were approved at the Company’s annual and special shareholders meeting held on December 11, 2018 (the “Annual Meeting”).
The shareholders elected Messrs. Ron Shuttleworth, Libin Zhao, Hon. Jerry Grafstein, Gali Bar-Ziv, and Millard Roth as directors of the Company at its Annual Meeting. Mr. Michael Frank did not stand for re-election and the Company would like to thank him for his support and contributions during his term as a director.
Ron Shuttleworth, recently appointed CEO of the Company, brings 25 years of experience in the technology sector as an operator, investor, analyst and investment banker, specializing in M&A and financings. As an operator, he has held positions of CEO, CTO and Product Manager with direct experience in fintech, enterprise software, and marketing automation. Mr. Shuttleworth also has experience as a venture capitalist investing in early stage technologies and as a hedge fund analyst responsible for selecting stocks and balancing risk in a portfolio. He was a top-ranked research analyst for eight years, specializing in technology, media, and communications.
Zhao Libin brings more than 30 years of experience in operations, business development and mergers & acquisitions. He is also an accomplished turnaround expert, having assisted a number of companies with successfully refinancing their debt, improving their balance sheets, and creating efficiencies in operations leading to profitability. Mr. Zhao led a coal resource integration program in Guizhou Province, PRC successfully implementing a restructuring strategy that achieved leading market share for coal reserves within the province. He created a new business model to help corporations solve short-term cash-flow deficiencies and improve their competitive advantages. Mr. Zhao has successfully led New Hope Asset Management Co., Ltd. which manages six enterprises with total assets of over $2 billion.
“We are very pleased to welcome Ron and Libin as new members to the board. They both have extensive experience and knowledge in technology, operations, and finance, and will be very strategic additions to Internet of Things Inc.,” said the Hon. Jerry Grafstein, Director. “The board is confident that these new additions to the leadership team will build on our recent business developments and initiatives. Speaking specifically to the market opportunity in China, we are very pleased to have Mr. Zhao representing New Hope IoT Intl. Inc., reaffirming our mutual commitment to the opportunity and long-term vision for our JV.”
Shareholders approved the reappointment of MNP LLP, Chartered Accountants as auditors.
The directors held a board meeting subsequent to the Annual Meeting and reappointed Ron Shuttleworth as Chief Executive Officer, Khurram Qureshi as Chief Financial Officer and James Sutcliffe as Chief Operating Officer.
The details of the matters approved at the Annual Meeting are set forth in IoT Inc.’s Information Circular dated November 6, 2018 and posted on SEDAR at www.sedar.com.
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor and operator of emerging technology companies with innovative technology solutions. The Company creates value through its portfolio companies’ expertise in IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations.
The Company owns Weather Telematics Inc., has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd., and has its headquarters in Toronto, Canada.
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Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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