Vancouver, B.C. - TheNewswire - July 05, 2021 - Marble Financial Inc. (CNSX:MRBL.CN) (OTC:MRBLF) (FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, is pleased to announce the addition of Lawrence Rhee, CPA, CFA, MBA to it management advisory team and Michael Feola to its Board of Directors.
Lawrence Rhee, the founder of RHEETHINK Inc., has been actively involved in the Canadian technology industry for over 20 years. Lawrence has advised many technology companies in Canada as he has held senior positions in both investment banking and equity research at several firms including Haywood Securities, GMP Securities and Genuity Capital. Lawrence's experience providing in-depth research analysis related to the technology sector has consistently generated investment ideas that are well-received by investors. He received a Top 3 ranking in each of the annual 2006, 2007 and 2009 StarMine surveys in the Canadian Software and IT Sector. Lawrence graduated with an MBA from the University of Toronto and earned his CFA and CPA professional designations.
In this capacity, Mr. Rhee will work with the Company’s Senior Leadership Team and Board of Directors to evaluate and identify strategic equity and debt participants, partnership engagements, M&A opportunities, and value-added technologies. His extensive experience working in the capital markets specializing in technology and special situations will greatly enhance Marble’s future opportunities.
Michael Feola is the founder of family office and Merchant bank, MMF Capital Inc., and event-driven liquidity fund, Hyde Park Equities Inc. Michael is also the owner and CEO of Allexor Global, a flexible packaging business, and founder of Feolan Capital, which has interests in financial services, real estate, hospitality and public securities. Michael is a director of Integral Capital Partners and chairman and director of Must Capital Inc., and director of Adya Inc., both TSX-V listed companies.
“I am elated to have both of Lawrence’s stature and thought leadership join our team and Michael’s entrepreneurial experience join our board. Their unique skill sets will add tremendous value to the Company’s leadership team and board of directors.” says Karim Nanji, Marble CEO. “Their unique experiences and knowledge in technology, capital markets and special situations will be a great asset to me and the Company. I look forward to benefiting from their advisement as we continue to execute on our strategy of structuring innovative solutions for the millions of Canadians that are financially underserved because of financial illiteracy and poor credit and financial management.”
Marble will issue 300,000 restricted share units (each, and RSU) to RHEETHINK Inc., pursuant to the Company’s long-term performance incentive plan (the LTIP).
Each RSU represents the right to receive one vested, one common share in the capital of the Company. The RSU’S vests as follows:
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- 150,000 RSU, 50% of which vest on October 02, 2021, and the balance on January 02, 2022.
The grant of the RSU’s are subject to approval from the CSE.
The Company has granted an aggregate of 850,000 stock options under the company's stock option plan to its directors, employees, and certain consultants. These options expire in five years, vest in equal one-quarter amounts on the date of grant, and in each of the first year, second year and third year anniversaries from the date of grant and are issued at $0.21 cents per share.
The Company would also like to announce the resignation of Vikas Ranjan as an independent director. Mr. Ranjan has been a board member since 2018, his insight, experience and guidance will be missed at the board level. All of us at Marble Financial want to acknowledge his valuable input and we wish him the best in his future endeavours.
About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) Marbles’ proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Inverite, Score-Up, Fast Track and Maestro to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score, since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform.
For further information about Marble Financial, please visit: https://mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guaranteeing of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
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