VANCOUVER, British Columbia, Nov. 17, 2017 (GLOBE NEWSWIRE) — RewardStream Solutions Inc. (“RewardStream” or the “Company”) (TSXV:REW) (Frankfurt:JL4L) (WKN Number A2APX1) announces that, effective immediately, Rana Vig, Martin Bernholtz and Juan Vegarra have resigned from the Board of Directors. Also effective immediately, Danilen Villanueva and Cam Paddock have joined the Board of Directors.
“On behalf of the Company, I would like to thank Rana Vig, Martin Bernholtz and Juan Vegarra for their contribution to RewardStream and their participation on the Board. We wish them all the best in their future endeavors,” stated Rob Goehring, Chief Executive Officer of RewardStream. “We are pleased to welcome Danilen and Cam to our Board.”
The Board has also resolved to consolidate the Company’s issued and outstanding shares on the basis of one (1) new common share for every ten (10) old common shares. The Company current has a total of 49,831,244 issued and outstanding shares. Post consolidation the Company will have approximately 4,983,124 shares issued and outstanding, with the precise number of shares depending on how fractional shares will be handled based on each shareholder’s holdings. All outstanding stock options and warrants will be adjusted using the same 1:10 ratio.
The Company is not changing its name and is not changing its trading symbol. The consolidation is subject to regulatory approval.
About RewardStream Solutions Inc.
RewardStream specializes in the execution of automated referral marketing programs that help brands to acquire, engage, and retain their most valuable stakeholders – customers. By utilizing an innovative blend of marketing insight and proprietary technology, RewardStream turns an existing customer base into a powerful new sales channel for all our clients. RewardStream delivers a scalable, real-time technology platform as the foundation of our client’s referral program. The platform provides customer acquisition programs that deliver new, highly loyal customers at very low cost per acquisition rates. Our award-winning marketing solutions have powered loyalty and referral marketing programs across 39 countries for brands including Boost Mobile, Envision Financial, W Concept, Koodo Mobile and more. For more information please visit www.rewardstream.com.
For more information contact:
RewardStream Solutions Inc.
Rob Goehring, CEO
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the 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.