VANCOUVER, British Columbia , Dec. 13, 2017 (GLOBE NEWSWIRE) -- RewardStream Solutions Inc. (“RewardStream” or the “Company”) (TSXV:REW) and (Frankfurt:JL4L), (WKN Number A2APX1) announces that, effectively immediately, Ralph Turfus has resigned from the board of directors and as the Chairman of the Company and Charles Abel has resigned as the Chief Financial Officer of the company. The company has appointed Usama (“Sam”) Chaudhry as a director and CFO the Company. Mr. Abel will remain as consultant to the Company for the foreseeable future.
“On behalf of the Company, I would like to thank Ralph Turfus for his longstanding contribution to RewardStream and his participation as Chairman of the Board. We wish him all the best in his future endeavors,” stated Rob Goehring, Chief Executive Officer of RewardStream.
Mr. Chaudhry provides executive management services in varying capacities, along with currently sitting on several public company boards. Mr. Chaudhry also serves in corporate development and investor relations roles with a mining service company. Mr. Chaudhry has provided services such as financial reporting, company filings, quarterly and annual budgets and overseeing corporate governance, while achieving company objectives and maintaining internal cost controls.
The Company has also entered into a loan agreement with 0890454 BC LTD in the amount of $190,573.61, with an interest rate of 6% and a maturity date of June 30, 2018. The funds will be used to settle outstanding debts and to provide general working capital for the business. The loan is secured against the assets of the business.
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
Rob.goehring@rewardstream.com
(877) 692-0040
Forward-Looking Information
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.