Real Luck Group Ltd (TSXV:LUCK) and its group of subsidiaries known as Luckbox announced a flurry of leadership additions on Friday following its merger with Elephant Hill Capital Inc last month.
The legal esports betting company has found its new CFO in Ran Kaspi, the former CFO of drone safety company ParaZero Ltd. Before that, Kaspi served as finance director of Global-e, a European provider of international e-commerce solutions.
Kaspi also brings substantial online gaming experience following almost six years at 888.com, an online casino and poker company, where he led the economic and performance team.
READ: Luckbox parent Real Luck Group begins trading on TSX Venture Exchange
Additionally, Real Luck beefed up its board of directors with three new additions:
- Drew Green, CEO of custom men’s dress clothes company Indochino, will serve as chairman. Since 2015, he has led the company to 500% growth. Including Real Luck, Green serves as chairman of five companies that are public or preparing to go public: Emerge Commerce Ltd (CVE:ECOM), Bruush, Apollo and Aires Tech;
- Maruf Raza, the national director of public companies at the accountancy firm MNP LLP. As an assurance partner, he advises public and private companies planning to go public, through direct initial public offerings or reverse mergers. He also serves on CPA Canada's cryptocurrency task force; and
- Lloyd Melnick, general manager at VGW Holdings Ltd and non-executive director at Blackstone-owned Murka Games. Over his career, which includes work with Disney, Stars Group, Zynga Inc (NASDAQ:ZNGA) (FRA:ZY3) and a host of small businesses, Melnick has helped lead three exits worth more than US$700 million.
All three will serve as independent directors.
"Ran, Drew, Maruf and Lloyd add an invaluable amount of knowledge and experience to our company, and their diverse backgrounds will be enormous assets as we strive to meet our ambitious growth goals from the outset,” CEO Quentin Martin said in a statement. “These are hugely exciting times for Luckbox, and I am grateful to have such a capable and experienced senior team to help us grow as we undertake the next steps as a public company."
The company also named Jo-Anne Archibald as its new corporate secretary. Archibald is CEO and founder of Canadian Corporate Board Advisory Services. The outgoing corporate secretary, Mike Stevens, resigned his position to focus on his board role, the company said.
Stock options and incentive bonus
Real Luck’s board has granted a total of 450,000 stock options to an officer and employees of the company through its stock options plan. The options are exercisable at a price of C$0.84 per share, based on its December 22 closing price, for a period of three years. The options vest 10% immediately, 10% after six months and 20% every six months.
The board also authorized a one-time performance incentive bonus to CEO Quentin Martin. The bonus is intended to compensate Martin for services provided in connection with the merger and to reflect the below-market compensation he agreed to accept during the initial listing and financing process, the company said.
The bonus includes the issuance of 119,048 common shares, which will be subject to a four-month-and-one-day hold.
"The board of directors commends Mr. Martin for his substantial efforts over the past year,” said Drew Green, who also leads the compensation committee. “His successful guidance of the company through the exchange listing process and initial financing rounds has added great value for all stakeholders,"
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