HIRE Technologies Inc. (CVE:HIRE), a company focused on modernizing and digitizing human resources, has announced the appointment of Sunil Sharma as a member of its advisory board.
The company noted that Sharma is the managing director of Techstars Toronto, a worldwide network that helps entrepreneurs succeed. To date, Techstars has invested in 2,505 start-ups across the globe and is a recognized leader in connecting entrepreneurs, investors, corporations, and entire ecosystems. Techstars operates three accelerators in Canada.
"Sunil is deeply rooted in the technology space, and his advice will be helpful to building out HIRE's SaaS business to support high-growth start-ups that are fueling innovation and job creation worldwide," said Simon Dealy, CEO of HIRE in a statement. "Sunil has worked with and invested in a wide range of technology companies, making his insights very valuable to our organization, which supports hiring and talent. We are excited to welcome him to our Advisory Board, and in turn, to work with Sunil to support the many start-ups across Canada and the world."
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Sharma commented: "Having worked with and invested in more than 400 unique start-ups over the past decade, I see first-hand the critical role that technical talent development plays in how and if companies grow. I have been long impressed by the high caliber of the talent network that HIRE brings to start-ups and scale-up companies across my network, and I look forward to working more closely with them in support of our many start-ups and their hiring needs."
Previously, Sharma co-founded Extreme Startups - now Highline Beta - and has worked as a venture capitalist with Extreme Venture Partners. He is also a co-host of the massive Collision Conference, which takes place annually in Toronto, bringing more than 30,000 entrepreneurs together online and in-person, and the director of the Founder Institute's pre-accelerator programs in both Toronto and Waterloo.
Corporate update
HIRE Technologies announced that the vendors of ProVision IT Resources Ltd. have agreed to accept 206,709 common shares of the company in lieu of $140,000 in purchase price amounts owing to the vendors at a deemed average price of $0.677 per share. The shares will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The company also said it has implemented a long-term incentive plan substantially in the form approved by shareholders of the company on October 16, 2020. The maximum number of shares that may be reserved for issuance upon exercise of incentive stock options, including any shares reserved for issuance under the company's prior stock option plan, is 10% of the issued and outstanding shares of the company, as it may be from time to time. The aggregate number of shares reserved and set aside for issue for all other awards under the plan shall not exceed 3,300,000.
HIRE Technologies is building a network of staffing, IT, and HR consulting firms. It helps partners navigate the changing world through growth solutions, focusing on digital transformation.
Contact the author at jon.hopkins@proactiveinvestors.com