BuildDirect Appoints Eyal Ofir as Director of the Board and Announces the Grant of Deferred Share Units
VANCOUVER, BC, April 4, 2022 /CNW/ - BuildDirect.com Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company") a growing omnichannel building material retailer, today announced that it has appointed Eyal Ofir to its Board of Directors. John Farlinger and Andrew Elbaz have stepped down from their roles as Directors of the Board. All changes are effective immediately. The Company also announces that it has granted an aggregate of 23,529 deferred share units ("DSUs") to one director of the Company in accordance with the Company Omnibus Equity Incentive Plan (the "Plan").
Presently Managing Director at Cormark Securities, Eyal Ofir joins BuildDirect's Board, bringing over 20 years of investment banking, capital markets, and industry experience collectively. He has spent more than 12 years in Equity Research covering the technology sector at a number of independent investment dealers. He has also advised a number of technology companies, focusing on helping them shape their growth strategies.
"I look forward to joining the BuildDirect Board of Directors and to supporting the Company and its management team as it enters the next phase of its growth story. The Company is participating in the massive home improvement market that provides it with multiple levers for growth." said Eyal Ofir, Director of the Board, BuildDirect.
"The Board is pleased to welcome Eyal." said Milan Roy, Director of the Company. "With his capital markets and investment banking experience, he will bring valuable perspective to the Board. I would like to thank John and Andrew for their service to BuildDirect, having joined the Board from VLCTY Capital Inc. following the reverse takeover transaction last year. I wish them the very best."
The DSUs are payable in common shares of the Company upon the holder ceasing to be a director of the Company subject to the terms of the Plan. One third of the DSUs vest on March 31, 2023 and the rest will vest in stages until March 31, 2025.
BuildDirect (TSXV: BILD) is a growing omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying our position as an innovative player in the home improvement industry. For more information, visit www.BuildDirect.com.
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof.
Forward-looking statements in this press release may include, without limitation, statements relating to BuildDirect's robust global supply chain network, its growth trajectory and future growth and expansion, the progress of its search for a full-time CEO for the Company, the size of the home improvement market and BuildDirect's position as an innovative player in the home improvement industry.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations and changes in general economic, business and political conditions. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These factors should be considered carefully and readers should not place undue reliance on the forward looking statements.
Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange (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.
SOURCE BuildDirect.com Technologies Inc.
Ethan Rudin, CFO; Ashley Nuell, IR; 1-778-382-7748, [email protected]
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