Chris Baker Named Chief Strategic Officer at POSaBIT, Leading Cannabis Fintech
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KIRKLAND, Wash. – POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (“POSaBIT” or the “Company”), the leading payment and point-of-sale platform for cannabis, is proud to announce Chris Baker to the newly formed company to appoint the role of Chief Strategic Officer.
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“Chris’ extensive experience in leading strategic initiatives and teams is an excellent fit. We couldn’t be more excited to welcome him to the POSaBIT team,” said Ryan Hamlin, the company’s CEO/Co-Founder. “I have no doubt that Chris will provide tremendous strategic support and insight as our organization continues to expand.”
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“POSaBIT is a fantastic opportunity,” commented Baker. “The company’s year-on-year growth has been incredible and I am impressed with the strong commercial viability of their products. I am excited to join the team and continue to expand the company’s presence throughout North America.”
Chris is passionate about the power of technology and has over 20 years of industry leadership experience. In previous roles, he led award-winning, multidisciplinary teams across 4 continents for global enterprise clients. In his role as the company’s Chief Strategy Officer, he will lead strategy with the POSaBIT team and work collaboratively across the company to keep the company at the forefront in a rapidly changing business environment. His career began at IBM Global Services where he focused on delivering projects and programs across the technology service delivery stack. Most recently, he was vice president of technology and innovation at Genius Avenue, an insuretech/fintech startup.
In connection with his appointment, the Company has granted Chris Baker 1,000,000 stock options (the “Options”) under the terms of the Company’s stock option plan (the “Plan”). The options are exercisable in common shares of the Company at an exercise price of $1.10 per share for the next 10 years, with a vesting period of 4 years, all in accordance with the plan and Canadian Securities Exchange policies.
About POSaBIT
POSaBIT (CSE: PBIT) POSaBIT is a FinTech solely engaged in the cannabis industry. We offer a best-in-class point-of-sale solution and are the leading provider of cashless payments for cannabis retailers. We work tirelessly to develop better financial services and transaction methods for merchants. We bring state-of-the-art software and technology to the cannabis industry so all traders can have secure and compliant services to solve the problems of a cash payments industry. Visit www.posabit.com for more information.
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of current or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “may”, “believe”, “plan”, “intend”, “objective”, “continue”. , “ongoing,” “estimate,” “outlook,” “expect,” “forecast,” and similar words, including the negative thereof, indicate future results or that certain events or conditions “may” or “will” occur. These statements are only predictions.
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Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, without limitation, business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive while other better funded competitors develop and commercialize competitive products; regulatory uncertainties; market conditions and demand and pricing for our products; our relationships with our customers, dealers and business partners; our ability to successfully define, design and bring to market in a timely manner new products that meet the needs of our customers; our ability to attract, retain and motivate qualified employees; competition in our industry; our ability to maintain technology leadership; our ability to manage risks associated with foreign operations; the impact of technological changes on our products and our industry; our failure to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend against claims by third parties that their intellectual property rights have been infringed; the impact of intellectual property litigation, which could materially and adversely affect our business; our ability to manage working capital; and our dependence on key personnel. POSaBIT is a young company with a short operating history; it cannot achieve profitability; and it may not actually achieve its plans, projections or expectations.
Important factors that could cause actual results to differ materially from POSaBIT’s expectations include consumer sentiment towards POSaBIT’s products, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, legislative changes, technology failures , competition and failure of counterparties to fulfill their contractual obligations.
Neither we nor any of our representatives make any representations or warranties, express or implied, as to the accuracy, adequacy or completeness of the information in this press release. Neither we nor any of our representatives shall have any liability, in contract, tort, escrow or otherwise, arising out of the use of the information in this press release or for any omissions in the information in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005767/en/
contacts
Investor Relations:
[email protected]
media work:
Oscar Dahl
855-767.2248
[email protected]
Administration:
Ryan Hamlin
Co-founder and CEO of POSaBIT
855-767-2248
[email protected]
Hayden IR
James Carbonara
(646) 755-7412
[email protected]
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