/Not for distribution to U.S. Newswire Services or for
dissemination in the United
States. Any failure to comply with this restriction may
constitute a violation of U.S. Securities laws./
TORONTO, Nov. 27, 2015 /CNW/ - Midpoint Holdings Ltd.
(the "Company") (TSXV: MPT) announces that its board of
directors has accepted the resignation of John G. Booth as Chief Executive Officer and
Chairman. John has decided to step down from the day to day running
of the company, however, he will remain a director.
As the co-founder, John has been instrumental in conceiving the
peer to peer FX marketplace concept. John secured early rounds of
investments that has been central to the Midpoint opportunity this
far and has led the intellectual property and the licensing and
white labelling strategy as well as key projects to integrate with
multiple payment providers, the sourcing of various distribution
partners and liquidity providers.
Under his leadership, the business achieved important milestones
including a move to London and
several rounds of investments through private placements before
finally negotiating its going public transaction via a reverse
take-over of a Canadian listed capital pool company and four
subsequent rounds of investment. The business has achieved a 31%
compounded monthly growth rate since its listing 9 quarters ago and
now claims a repeat user rate of 93%.
The board is pleased to issue the following statement:
"It has been a great journey to bring the Midpoint opportunity
this far and John can take significant credit for building the
Company into the international brand it is today and the Board
would like to thank him. We are sorry that John has decided to
stand down from his roles. We understand and respect his wish to
spend more time with his family. John's tenacity and vision has put
the business in a position for continued growth and innovation for
many years to come. We look forward to his continuing participation
as a director and wish him well in his future endeavours."
The Company also announces the appointment of David Wong as Chief Executive Officer and
Corbin Comishin as Chief Financial
Officer.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release and has
neither approved nor disapproved of the contents of this press
release.
This news release contains certain "forward-looking
information" within the meaning of applicable securities law.
Forward looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "would", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are
only predictions. Forward-looking information is based on the
opinions and estimates of management at the date the information is
provided, and is subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
information. For a description of the risks and uncertainties
facing Midpoint and its business and affairs, readers should refer
to Midpoint's Management's Discussion and Analysis. Midpoint
undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change,
unless required by law. The reader is cautioned not to place undue
reliance on forward-looking information.
SOURCE Midpoint Holdings Ltd.
