VANCOUVER, Jan. 22, 2016 /CNW/ - Oramericas Corporation (NEX-TSXV Exchange: OA.H) (the "Company"), is pleased to announce its intention to reactivate its business as a software licensing and managed services provider in the Industrial, Technology and Life Sciences business sector of the TSXV. The Company was and has been a technology issuer and this intention does not constitute any change of business.
As part of the reactivation, the Company has approved several corporate matters which include the following:
Name Change: The Company has approved the change of its corporate name to Backstageplay Inc.;
New Director Appointments: The Company has accepted the resignations of two of its board of directors and has contemporaneously appointed two new directors. Mr. Alan Vichet and Mr. Craig Schneider have served the Company since it's restructuring in August 2011 and they have resigned effective immediately. As a result of these vacancies, the Company has appointed the following directors:
Mr. Andrew Branscombe of Oakville, Ontario. Mr. Branscombe has served as a consultant and business development executive in the Internet and social gaming industries where he has represented a number of large, well known gaming suppliers and operators including Cryptologic Inc., Cashcade Inc., and The Intertain Group Ltd.; and
Mr. Howard Blank of Vancouver, British Columbia. Mr. Blank is a senior entertainment executive and consultant with more than 20 years of experience in the execution of large-scale entertainment projects and high-profile events. Most recently, Mr. Blank served as the VP-Corporate Communications, Entertainment & Responsible Gaming with Great Canadian Gaming Corporation
As a result of Mr. Schneider's resignation as both a director and the Chief Executive Officer, the Company has appointed Mr. Scott White, currently a director, as the Chief Executive Officer and Chairman, effective immediately. The Company expresses its sincere appreciation to Mssrs. Vichet and Schneider for their assistance during its restructuring period.
Stock Option Grants: The Company has approved the granting 1,200,000 stock options to directors at an exercise price of $0.10 per share, all of which have been made in accordance with the Company's 10% rolling stock option plan, which received shareholder approval at the Company's annual general and special meeting held on October 3, 2013.
The Company intends to continue its restructuring efforts and will provide additional updates to shareholders as they become available.
This document may contain statements about expected future events and/or financial and operating results of the Company that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.
SOURCE Oramericas Corporation
For further information: Laura Malone, Director of Communications, +1 (416) 578-4164; Scott White, CEO, +1 (416) 704-6611