Inexperienced most lately served as president of enterprise options at Canadian telecoms big Telus Litelink Applied sciences Inc (CSE:LLT) (OTCMKT
Inexperienced most lately served as president of enterprise options at Canadian telecoms big Telus
Litelink Applied sciences Inc (CSE:LLT) (OTCMKTS:LLNKF) unveiled its new CEO on Friday, Telus veteran Peter Inexperienced, together with a number of recent faces on the board stage.
Inexperienced has in depth management expertise in each massive companies and small companies within the cloud applied sciences, AI, cellular and telecommunications sector. He most lately served as president of enterprise options at Canadian telecoms big Telus.
In a press release Friday, Inexperienced mentioned he was “excited” to affix the British Columbia-based know-how agency.
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“2021 marks an vital inflection level within the firm’s development,” Inexperienced mentioned. “The standard of our incoming personnel displays our dedication to creating continued investments in sturdy administration groups coupled with sturdy rising applied sciences which can be disrupting a number of know-how sectors poised for development.”
Inexperienced will even be a part of the board together with skilled executives Aleem Nathwani and Mike Devine, based on the corporate.
“The worldwide pandemic has allowed for industries to innovate a lot faster and adapt to the instances, we are going to play an vital function to facilitate funding development on this course of,” Inexperienced added.
“Now could be the time for firms comparable to ours to flourish, with the correct technique and group in place. Furthermore, I’m desirous to work with the gifted group, we’re dedicated to create worth for our shareholders and will likely be retaining you present on our thrilling highway forward.”
Share consolidation
In reference to the administration reshuffle, Litelink additionally mentioned it’s going to proceed with a 2.5-to-1 share consolidation that was beforehand authorized by shareholders in October. Following the consolidation, the corporate will see its shares scale back from simply over 172 million to round 69 million.
Litelink additionally introduced plans to supply as much as 10 million post-consolidation shares priced at C$0.10 to boost proceeds of $1 million.
The corporate additionally mentioned that it has cancelled a complete of eight million incentive inventory choices granted to a former officer and exercisable at a worth $0.35 till August 3, 2023. Following the cancellation, the corporate has 6,070,000 choices excellent. The choice plan permits the board of administrators to subject the equal of as much as twenty p.c of the issued and excellent share capital of the corporate.
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