Ryan Polk Named Chairman of the Board at Generation Next
October 08 2019 - 8:23AM
InvestorsHub NewsWire
Ryan Polk Named Chairman of the Board at Generation Next
SAN
DIEGO, CA -- October 8, 2019 -- InvestorsHub NewsWire
-- The Board
of Directors at Generation Next Franchise Brands (OTCQB: VEND)
named Ryan Polk as Chairman. The Board also accepted the
resignation of the outgoing Chairman, Nick
Yates.
In
September, the Company announced Yates had stepped down as CEO
to focus on sales, marketing, and business development.
He continues in this important leadership role following his
resignation from the Board. As part of
his Board resignation, Yates voluntarily rescinded 9.5
million options awarded to him in 2017 and 2018 including
2.5 million vested warrants with a $0.16 exercise
price.
“I
support Ryan’s leadership of the company and believe he is
leading Generation Next on the right path to see the
company deliver to both its franchisees and shareholders. I also
recognize the importance of our capital raising efforts and deemed
it would be in the best interest of Generation Next and the
underlying shareholders for me to rescind my performance-based
options as I believe this decision would help increase the amount
of shares available to new investors, helping the Company secure
additional growth capital,” said
Yates.
Polk
added, “I appreciate the Board’s confidence in the
plans we began executing in August to become an institutional
grade company. Raising new capital is an important initiative
for us. The changes we have made in the last couple of
months and those we plan to complete during the next
few weeks will make us more attractive to investors and
help us meet the expectations of Reis
& Irvy’s franchise
owners.”
For more information, visit Generation
NEXT
Website: www.gennextbrands.com or
call Toll-Free (888)
902-7558.
About Generation NEXT Franchise
Brands,
Inc.
Generation NEXT Franchise Brands, Inc., based in San
Diego, California, is a publicly traded company on the OTC Markets
trading under the symbol OTCBB: VEND. Generation NEXT Franchise
Brands, Inc. is the parentcompany to Reis & Irvy’s, Inc., Print Mates,
Inc., and 19 Degrees,
Inc.
About Reis & Irvy’s,
Inc.
Reis
& Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (VEND). Launched in early
2016, the revolutionary Reis & Irvy’s Vending Robot
serves frozen yogurt, ice cream, sorbets and gelatos, a choice of
up to six custom toppings and to customers within 60 seconds or
less at the point of sale. The unique franchise opportunity has
since established itself as a high-demand product and currently
showcases a franchise network both domestically as well as
internationally.
www.reisandirvys.com
This
information is not intended as an offer to sell, or the
solicitation of an offer to buy, a franchise. It is for information
purposes only. No Reis & Irvy’s franchises will be
sold to any resident of any state until the offering has been
exempted from the requirements of, or duly registered in and
declared effective by, such state and the required FDD (if any) has
been delivered to the prospective franchisee before the sale in
compliance with applicable law. Currently, the following states in
the United States regulate the offer and sale of franchises:
California, Hawaii, Illinois, Indiana, Maryland, Michigan,
Minnesota, New York, North Dakota, Oregon, Rhode Island, South
Dakota, Virginia, Washington, and Wisconsin. If you reside in one
of these states, or even if you reside elsewhere, you may have
certain rights under applicable franchise laws or
regulations.
Cautionary note on forward-looking
statements
This
press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include, among others, statements
concerning our future financial performance, including statements
regarding: our ability to generate revenue and recognize deferred
revenue; our ability to timely launch delivery and installation of
our frozen yogurt robots; and our ability to grow our franchising
and licensing divisions and launch our corporate-owned and direct
sales platforms. The Company bases these forward-looking statements
on its current expectations, estimates and projections about future
events and the industry in which it operates using information
currently available to it. Actual results could differ materially
from those discussed in, or implied by, these forward-looking
statements. Forward-looking statements are identified by words such
as “believe,” “anticipate,” “propose,” “expect,” “intend,” “plan,”
“will,” “may,” “estimates,” variations of such words and other
similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. Factors
that could cause actual results to differ from those implied by the
forward-looking statements contained in this press release are set
forth in our filings with the Securities and Exchange Commission
(SEC), including our most recent Annual Report on Form 10-K for the
year ended June 30, 2018, our Quarterly Reports, and our Current
Reports on Form 8-K. Be advised that developments subsequent to
this press release are likely to cause these statements to become
outdated and the Company is under no obligation (and expressly
disclaims any such obligation) to update or revise any
forward-looking statements whether as a result of new information,
future events, or
otherwise.