LottoGopher Holdings Inc.

  • ISIN: CA54569L1031
  • Land: .

Nachricht vom 13.02.2019 | 19:10

LottoGopher Holdings Inc. Announces Board and Management Update

DGAP-News: LottoGopher Holdings Inc. / Key word(s): Miscellaneous

13.02.2019 / 19:10
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - February 13, 2019) - LottoGopher Holdings Inc. (CSE: LOTO) (OTC Pink: LTTGF) (FSE: 2LG) ("LottoGopher" or the "Company") is pleased to announce that due to a reorganization of management, ahead of the Company's transformative acquisition of Bravio Technologies, Mr. Greg Cavers has been appointed to the Board of Directors and as Chief Financial Officer and Mr. Edward J. Tobin has been appointed to the Board of Directors and as interim Chief Executive Officer.

Greg Cavers is a dedicated, proactive professional with over 15+ years' of financial experience. Operating as a strategic CFO Mr. Cavers specialises in the financial modeling of scalable operations. Mr. Cavers Key strengths are Financial reporting, IFRS; Regulatory reporting OSFI, MFDA; Management reporting and Tax requirements; Strategic operational Budgeting and Forecasting; Cash Flow modeling and Acquisition Due-diligence; as well as Systems implementation and process re-engineering. Mr. Caver's initial role with LottoGopher will see him manage internal and external audit requirements for IFRS, US GAAP and help guide LottoGopher through its current transaction.

Edward J. Tobin is the current COO of PlasmaNet Inc. Managing Director of 1847 Partners LLC. Mr. Tobin was previously a Director of Global Emerging Markets North America, Inc. (GEM), where for 15 years he managed Special Situations and Venture investing for GEM's Partners Capital Fund. Mr. Tobin was also a principal and on the investment committee of the MENA Fund, a Shari'ah compliant private equity fund which was a joint venture between GEM and VC Bank, itself a Shari'ah compliant bank based in Bahrain. In addition to these activities, while at GEM Mr. Tobin oversaw structured finance transactions in industries such as clean tech, consumer/retail, alternative finance, media, telecommunications, manufacturing, retailing, real estate and life sciences. Prior to joining GEM, Mr. Tobin was Managing Director of Lincklaen Partners, a private family investment office. Previously, he had been a portfolio manager with Neuberger and Berman, managing both pension funds and private client capital in the public equity markets. Prior to N&B, he was a Vice President of Nordberg Capital, Inc. Mr. Tobin serves as a Board member of 1847 Holdings LLC, Peekay Boutiques, Inc., PPI Management LLC, and GEM Holdings LLC, in addition to his various philanthropic activities. Mr. Tobin received his MBA from the Wharton School, as well as a Master of Science in Engineering and a Bachelor of Science in Economics from the University of Pennsylvania.

Ali Zamani LottoGopher director commented: "The newly appointed LottoGopher leadership team is in full support of the current transaction and aims to finalize the RTO transaction with Bravio by the end of March. Management will ensure to keep our shareholders up to date as things progress. Speaking on behalf of the whole LottoGopher team I would like to take this opportunity to thank our existing shareholders for their continued support and patience as both parties focus on the merge and the exciting times ahead for the combined company."

Ali Zamani, a current director of the Company, has stepped down as interim Chief Financial Officer, he will hand over the role to Mr. Cavers with immediate effect.

Furthermore, James Morel has resigned from his role as a director, Chief Executive Officer and President of the Company and Saveneet Singh has resigned from his role as a director of the Company. The Company would like to thank Messrs. Singh and Morel for their hard work and contributions to the Company.

About LottoGopher

LottoGopher Holdings owns and operates websites including LottoGopher.com and FreeLotto.com. LottoGopher.com is a lottery messenger service that allows users to easily order and manage their state lottery tickets online using a debit or credit card. By allowing individuals to choose their numbers and safely order tickets for the official lottery drawings in California, LottoGopher makes it simple for users to keep track of their tickets and winnings. LottoGopher Holdings also owns and operates the FreeLotto.com sweepstakes, online marketing and free member acquisition website. FreeLotto.com has attracted over 65 million members to date and has awarded nearly $100 million in prize money. Since its inception in 1999, FreeLotto members have played over 3.7 billion games. Currently, the FreeLotto website attracts over 7.3 million unique visitors per month and produces over 20,000 small prize winners per month. A global online database company, FreeLotto is a proven direct marketing model that offers free membership and a subscription service for its daily sweepstakes games.

On behalf of the Board of LottoGopher Holdings Inc.

Edward J. Tobin
Director & Interim CEO
866-LOTTO-GO
For Investor Information, please visit
LottoGopher.com/investor

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Forward-Looking Statement

This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, statements regarding expansion plans, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. Statements in this news release relating to the Company's proposed change of business are forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. In respect of the Company's plans to pursue a change of business, risks would include the ability of the Company to obtain additional financing on acceptable terms.. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) 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/42813

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/42813


13.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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