SWMBRD Announces Entry into Consulting Agreement and Grant of Restricted Share Units
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC – TheNewswire - November 7, 2023: SWMBRD Sports Inc. (CSE:SWIM) (“SWMBRD” or the “Company”) announces that it has entered into a consulting agreement with Mr. Peter Korver (DBA) Liink Holding B.V. (the “Consultant”) to provide various business development and brand execution services to the Company. The Company has agreed to engage Mr. Korver for a term of 12 months, subject to earlier termination by the Company upon 30 days’ written notice, or by the Consultant or upon 30 days’ written notice. For the first two months of the term, the Company has agreed to grant Mr. Korver 266,666 RSUs in consideration for his services. For the third month of the term and thereafter, the Company has agreed, subject to finances, to pay Mr. Korver a monthly cash fee of $4,000. Alternatively, the Company and Mr. Korver may agree on additional grants of RSUs in lieu of the cash payments.
Peter Korver is an accomplished professional with a strong background in the International Sports/Retail Industry. Throughout his career he has held prominent positions as a managing director and Benelux regional sales director for renowned companies such as Nike, Puma, HI-TEC and Brunotti among others.
In 2015 Peter was placed at the helm of iconic Dutch outdoor brand The Nomad Company after the owner and managing director Barry Kooijmans passed away in the tragic MH-17 plane crash. In 2008 Peter was named General Manager EMEA- Dobotex International (today known as: stitchd). Headquartered in The Netherlands, stitchd is Europe’s fastest moving product licensee, representing global A-brands like PUMA, Tommy Hilfiger, Levi’s, and HEAD.
Peter is located in Haarlem, near Amsterdam, The Netherlands - a prominent hub of major sporting goods brands and investment funds. His primary task is to present SWMBRD to this audience with the intention of securing strategic level investment and/or staged acquisition. Peter will also work with the qualified team assembled by SWMBRD over the past months maximizing revenues and ensuring that all market and product development is aimed at tangibly increasing the partnership/acquisition appeal of SWMBRD: the board and the brand.
Each RSU represents the right to receive, once vested, one common share in the capital of the Company. In accordance with the policies of the Canadian Securities Exchange, all of the 266,666 RSUs and common shares underlying such RSUs are subject to a hold period of four months and one day from the date of issuance.
None of the securities acquired will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About SWMBRD Sports Inc.
SWMBRD Sports Inc. is a Vancouver, B.C. based sporting goods company looking to enable millions to rethink their way of recreating in the water. Management believes that SWMBRD’s proprietary aquatic sports board, by virtue of its patented design, is revolutionary in how it empowers the human body in the water like nothing before, giving water lovers of all ages and abilities the freedom to explore all aquatic environments with ease. By offering an aquatic board sport that is versatile, easy to use, easy to store, and which can be used by all ages and body types in any body of water (rivers, oceans, lakes and pools), the Company believes SWMBRD and the sport of swimboarding has the potential to become one of the most popular board sports in the world, and a great aquatic brand. The Company has refined manufacturing techniques most relevant to the SWMBRD and has successfully produced demonstration fleets of fully functioning boards, which have been in rigorous real-world use in Hawaii, Canada and Greece. The Company has now commenced large scale mass production under an OEM agreement with Tahe Outdoors, Vannes, France - the preeminent board sport manufacturer in Europe.
For further information please contact:
Justin Schroenn – President, Chief Executive Officer and Director
Matthew Schroenn – Vice President and Director
Telephone: 604-375 4664
Gareth Schroenn - Vice President
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s business plan with respect to the engagement of the Executives and the Consultants and the services to be provided to the Company; the grants of RSUs; the anticipated commercial production and sale of its SWMBRDs; the Company’s plan to develop its brand and the sport of swimboarding; and those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The Canadian Securities Exchange has not reviewed or approved the contents of this news release.