TORONTO, Ontario – August 13, 2024 /Globe Newswire/—NowVertical Group Inc. (TSX-V: NOW) (OTCQB: NOWVF) (“NOW” or the “Company”), a leading data analytics and AI solutions company, will announce its 2024 second quarter financial results on Thursday, August 15, 2024, before the market open. This will be followed by a webinar at 10:00 AM EDT (7:00 AM PDT) on Monday, August 19, 2024, to discuss the Company’s financial and business results.
NOW invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming earnings webinar to discuss Q2 2024 results. Participants will include Sandeep Mendiratta, Chief Executive Officer; Christine Nelson, Interim Chief Financial Officer; and Andre Garber, Chief Development Officer. A live question-and-answer session will follow.
Investor Webinar Registration
Webinar registration information will be provided along with Q2 results on August 15, 2024.
Following the call, a recording of the webinar and supporting materials will be available on the investor’s section of the company’s website at: https://nowvertical.com/news-and-media/
Engagement of Investor Relations Service Provider
NOW is also pleased to announce that it has entered into a capital markets advisory agreement with (the “Agreement”) Sophic Capital Inc.("Sophic Capital") to provide investor relations services to the Company. Pursuant to the terms of the Agreement, Sophic Capital will assist the Company in the preparation of an investor communications plan, investor materials, news releases, roadshows and conference calls. The Sophic CapitalAgreement is for a term of 12 months, commencing on August 12, 2024. Inconsideration for Sophic Capital's services, the Company will pay Sophic Capital CAD $8,000 per month and will reimburse Sophic Capital for expenses approved by the Company in advance in writing.
In addition, the Company will grant to Sophic Capital 520,000 incentive stock options (the “Options”), each entitling Sophic Capital to acquire one (1) Class A subordinate voting share of the Company (a “Share”) at an exercise price of CAD $0.23 per share for a period of three (3) years from the date of grant. The options will vest in installments over a twelve (12) month period following the grant of the Options. All Options granted to Sophic Capital will be subject to the terms of the Company’s omnibus long term incentive plan, the terms of any stock option agreement entered into between Sophic Capital and the Company and the rules and policies of the TSX Venture Exchange.
Sophic Capital is a Toronto-based firm that provides capital advisory services for public and private growth companies and is an arm’s length consultant to the Company. To the knowledge of the Company, Sophic and/or its authorized individuals currently hold 95,000 Class A Subordinate Voting Shares and 100,000 Class A Subordinate Voting Share Purchase Warrants in the capital of the Company. Neither the Company nor any of its directors, officers or employees have any interest, directly or indirectly, in Sophic Capital, or their securities, or any right or intent to acquire such an interest.
About NowVertical Group Inc.
The Company is a data analytics and AI solutions company offering comprehensive solutions, software and services. As a global provider, we deliver cutting-edge data, technology, and artificial intelligence (AI) applications to private and public enterprises. Our solutions form the bedrock of modern enterprises, converting data investments into business solutions. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.
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.
For further information, please contact:
Andre Garber, CDO
IR@nowvertical.com
Nikhil Thadani, Investor Relations and Communications
nik@sophiccapital.com
t: (289) 667-1977
Cautionary note regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
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