SoftLab9 Software Solutions Inc. Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2019) - SoftLab9 Software Solutions Inc. (CSE: SOFT) (FSE: APO1) (the "Company" or "SoftLab9"), announces the following corporate changes:
- Voluntary cancelation of shares for Jason Collins and Maxime Rochon
- Resignation of Jay Ruckenstein as president
- Divesting of certain assets
- Future of SoftLab9 Software Solutions Inc.
- Issuance of stock options to a consultant, directors and officers
Voluntary Cancelation of shares
Jason Collins and Maxime Rochon have agreed to voluntarily cancel all of the shares in each of their names, both free trading and escrowed. The cancelation is a result of the company not being able to complete and push out the CatchCoin marketing application. A total number of 20,154,444 Shares will be canceled. Jason Collins and Maxime Rochon are no longer part of SoftLab9.
Resignation of Jay Ruckenstein as President
The Company has accepted the resignation of Jay Ruckenstein as president; however, he will continue to remain as a board member. The Company would like to wish Jay well in in his future business ventures and thank him for the time, effort and dedication that he and his family have put into SoftLab9.
Divesting of Certain Assets
The management and board have felt that it is important to keep only the assets that we feel we have the ability to complete and pursue and thus the Company has divested of CatchCoin as well as cryptocurrency miners, neither of which we feel will be profitable for our company in the near future without significant time, investment and resources.
SoftLab9 will continue to develop its remaining software application but the management and board will also be exploring other new and exciting business opportunities. There are many areas of opportunity out there and we will keep an open mind for finding the right fit for the Company and create shareholder value moving forward.
Stock Option Issuance
The Company has issued 1,500,000 stock options at $0.05, exercisable for two years from issuance to consultants, officers and directors.
About SoftLab9 Software Solutions Inc.
SoftLab9 is engaged in software development for advertising, Fintech, RegTech, data aggregation, and compliance in today's new, data-driven business landscape. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. SoftLab9 delivers sustained value by strategically producing next generation software and services to address our clients' immediate and long-term needs, helping them reach their goals on a global scale
Contact for SoftLab9:
Rahim Mohamed, CEO
SoftLab9 Software Solutions Inc.
T: (403) 605-9429
Certain statements in this release are forward-looking statements/information. Statements about the Company's plans and intentions, future business opportunities, other potential transactions, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the ability to successfully develop software, anticipated costs, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospects and opportunities; changes in laws and regulations; changes in and the effect of government policies; demand for products and services; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the common shares of the Company. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, changes in laws, negative sentiment towards the industry in which the Company operates, increase in operating costs, the loss of key directors, employees, advisors or consultants, technology failures, litigation, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.
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