Langley, BC / TheNewswire / August 21, 2017 / Iplayco Corporation Ltd. (TSX VENTURE: IPC) (“Iplayco” or the “Corporation”) announces effective immediately the resignation of Mr. Mohamed Youssef and the appointment of Mr. Shad Azimi. Mr. Youssef has resigned from the Board to focus on other business commitments. Mr. Azimi will replace Mr. Muhanad Awad as Chair of the Corporation’s Compensation Committee and will also replace Mr. Zaher Fattouh as member of the Corporation’s Audit Committee, chaired by independent director, Mr. Mel Barsky. Mr. Awad will remain as the Corporation’s Chairman of the Board and Mr. Fattouh will remain as director. Mr. Azimi is considered an independent director, since he has no direct or indirect material relationship with the Corporation that could, in the view of the Corporation’s Board, reasonably interfere with the exercise of Mr. Azimi’s judgment. With the resignation of Mr. Youssef, Iplayco’s Corporate Governance Committee will be chaired by independent director, Mr. Craig Williams. The Corporation’s Audit, Compensation and Corporate Governance Committees are now chaired by three independent directors and the Corporation’s Audit Committee is entirely comprised of four independent directors. The Corporation’s directors are to hold office until the next annual meeting of the shareholders, or until their successors are elected or appointed.

Mr. Shad Azimi is a Managing Partner and the Founder of Vanterra Capital LLC, global private equity firm that manages assets for a diverse investor base of ultra-high net worth partners and leading institutions. Mr. Azimi has over 20 years of private equity investment experience.  Prior to founding Vanterra, he was a Principal at New York Life Capital Partners (renamed Goldpoint Partners), a $12 billion private equity program sponsored by New York Life Investment Management and third-party institutional investors. His primary role was to identify, evaluate, and execute investment opportunities for the firm’s fund investment program and direct investment funds. Prior to that, Mr. Azimi was a Private Equity Associate at Lightyear Capital as well as UBS/PaineWebber Capital.  Mr. Azimi began his career as an investment banking Analyst at PaineWebber, Inc. Mr. Azimi received his B.S. with dual concentrations in Finance and International Business from the McIntire School of Commerce at the University of Virginia. He earned his MBA from Columbia Business School.

“On behalf of the Board, I am very pleased to welcome Mr. Azimi as director of Iplayco. Mr. Azimi brings considerable financial experience and expertise to Iplayco, a growth-stage company” said Muhanad Awad, director and Chairman of the Board of Iplayco.  

About Iplayco Corporation Ltd.

Iplayco is a global leader in the design and supply of premium-quality, fun, safe and durable indoor playgrounds for children. In its 18-year history, Iplayco has sold over 3,000 playgrounds to over 60 countries worldwide. For more information, please visit www.iplaycoltd.com.

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For more information, please contact:

Iplayco Corporation Ltd.

Max Liszkowski

Chief Financial Officer and Corporate Secretary

(604) 607-1111

ir@iplayco.com               

 

This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the shares or a solicitation of a proxy.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.