LOS ANGELES, Aug. 11, 2017 /CNW/ - INNOVA Gaming Group Inc. ("INNOVA" or the "Company") (TSX: IGG), announced today changes to its board and executive resulting from Pollard Banknote Limited's ("Pollard Banknote") (TSX: PBL) take-over bid.
INNOVA announced today that Mr. Richard M. Weil, Dr. Aubrey Zidenberg, Dr. Edward Stanek, and Mr. Paul Van Eyk, being all of the directors of INNOVA, have resigned from the board. In addition, Mr. Weil has resigned from his position as Chief Executive Officer of INNOVA and President of Diamond Game. The vacancies created by these director resignations have been filled by Mr. Gordon O. Pollard, Mr. John S. Pollard and Mr. Douglas E. Pollard, each of whom also serve as directors of Pollard Banknote. These changes follow the announcement of Pollard Banknote and INNOVA on August 3, 2017 that 10188557 Canada Inc., a wholly-owned subsidiary of Pollard Banknote, has taken up approximately 89.32% of the outstanding common shares of INNOVA pursuant to its offer to acquire all of the outstanding common shares of INNOVA.
Pollard Banknote would like to thank the board members for their significant contributions over the past two years, and in particular we extend our thanks to Mr. Weil for his leadership of the organization during this same time period.
About INNOVA Gaming Group Inc.
INNOVA develops unique games and products for the global gaming industry, with particular focus on state and provincial lotteries. Through the Company's wholly-owned subsidiary, Diamond Game, INNOVA focuses on enhancing the revenues of government-sponsored lotteries and other regulated operators by offering its unique "extended play" products in traditional and non-traditional gaming venues. Its primary product is the LT-3, an instant ticket vending machine that dispenses tickets while simultaneously displaying the results of each ticket on a video monitor in an entertaining fashion. For more information, please visit www.innovagaminggroup.com.
SOURCE INNOVA Gaming Group
For further information: John Pollard, Director, Telephone: (204) 474-2323 ext 204, Facsimile: (204) 453-1375; Doug Pollard, Director, Telephone: (204) 474-2323 ext 275, Facsimile: (204) 453-1375