SWMBRD Sports Inc (CSE:SWIM) has announced the re-appointment of Roc Smith as a director of the company and announced the issuance of stock option grants.
Smith was previously a director of the company but resigned on April 20, 2022, prior to the addition of Chris Kypriotis to the board of directors.
At the company's most recent annual general and special meeting, Kypriotis withdrew his consent to act as a director for personal reasons, although he remains engaged as a consultant. Smith was appointed to fill the casual vacancy on the company's board of directors.
Smith completed his degree in international fashion marketing, which encompasses areas of logistics and fulfillment, sales, and marketing, international trade, and project management.
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He is also a graduate of the Wine and Spirit Education Trust (WSET) and has worked in several well-known restaurants in England, Germany, Spain, and Switzerland.
SWMBRD said Smith will be an asset to the company with his international experience and communication skills.
Stock options granted
The company also said it has granted an aggregate of 6,770,000 stock options to purchase up to 6,770,000 of its common shares to certain directors, officers, employees and consultants of the company.
The options granted vest immediately upon the grant and are exercisable for a period of two years from the date of grant at a price of $0.10 per common share.
All 6,770,000 of the options and the common shares underlying such options are subject to a hold period of four months and one day from the date of issuance.
None of the securities acquired in the grant will be registered under the United States Securities Act of 1933, as amended, and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
SWMBRD Sports is looking to enable millions to rethink their way of recreationing in the water. Its management believes that SWMBRD's proprietary aquatic sports board, by virtue of its patented design, is revolutionary in how it empowers the human body in the water like nothing before, giving water lovers of all ages and abilities the freedom to explore all aquatic environments with ease.
The company has refined manufacturing techniques most relevant to the SWMBRD and has successfully produced demonstration fleets of fully functioning boards, which have been in rigorous real-world use in Hawaii, Canada and Greece.
The company is now preparing to commence large-scale mass production under an OEM agreement with Tahe Outdoors of Vannes, France - the preeminent board sport manufacturer in Europe. It is SWMBRD's intention to have Swimboards available for sale in December of 2022.
Contact the author at jon.hopkins@proactiveinvestors.com