SWMBRD Sports Inc (CSE:SWIM) told investors it has entered into a consulting agreement with Peter Korver, an accomplished professional with a strong background in the international sports/retail industry, to provide it with various business development and brand execution services.
The company said in a statement that it has engaged Korver for a 12-month term, subject to earlier termination upon 30 days written notice by either party.
Harlem, Netherlands-based Korver has held prominent positions as a managing director and Benelux regional sales director for renowned companies such as Nike, Puma, HI-TEC and Brunotti among others.
The company noted that Harlem, near Amsterdam, is a prominent hub of major sporting goods brands and investment funds.
"His primary task is to present SWMBRD to this audience with the intention of securing strategic level investment and/or staged acquisition," SWMBRD said.
"Peter will also work with the qualified team assembled by SWMBRD over the past months maximizing revenues and ensuring that all market and product development is aimed at tangibly increasing the partnership/acquisition appeal of SWMBRD: the board and the brand."
The company has agreed to grant Korver 266,666 restricted stock units (RSUs) for the first two months of the term, with monthly cash payments of $4,000 from the third month onward. Alternatively, it said they may agree on additional grants of RSUs in place of the cash payments.
Each RSU represents the right to receive, once vested, one common share. They are subject to a hold period of four months and one day from the date of issuance.
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