Genifi Announces Changes to its Board of Directors

TORONTO, Aug. 16, 2024 /CNW/ - Genifi inc. (TSXV: GNFI) ("genifi" or the "Company") today announced that Charlie Davis has joined its Board of Directors and Stephen Moore has resigned.

Charlie Davis is the Principal and owner of Lucent Tech Group, an IT efficiency and talent development consultancy founded in 2023, following his 25 years in the information services sector. Additionally, he serves as the Managing Director of Technology at Maple Health Group LLC, where he is responsible for technology and information security strategy.

Previously, Charlie was the Senior Director of IT Operations at S&P Global Market Intelligence. He holds a B.A. in English Literature from Wheaton College in Massachusetts. An active member of the technology community, Charlie frequently advises companies on reducing technical debt, identifying talent development opportunities, and accelerating IT project delivery.

"We would like to thank Stephen Moore for his many important contributions to our Board since our going public transaction in 2015," said Tom Beckerman, genifi's CEO. "We are delighted that Charlie Davis is joining our Board, His wealth of deep experience in technology and managed services will be of great benefit to genifi."

Mr. Davis' appointment is subject to TSX Venture Exchange approval.

About genifi inc.:

Genifi (formerly Prodigy Ventures) delivers Fintech innovation, with its cutting-edge platforms: IDVerifact for digital identity verification, and tunl.chat for generative AI chat. Genifi has been recognized as one of Canada's fastest-growing companies and is committed to driving innovation in the Fintech industry.

Forward-Looking and Cautionary Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward looking information includes without limitation, statements regarding the Company's future plans. Although genifi believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. The forward-looking information is based on certain assumptions, which could change materially in the future. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in genifi's Management's Discussion and Analysis for the period ended March 31, 2024, a copy of which is filed on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, genifi does not intend, or assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE genifi inc.

FOR FURTHER INFORMATION PLEASE CONTACT: GENIFI INC., Andrew Hilton, Chief Financial Officer, [email protected], 416-606-8833