CASTLE ROCK, Colo.,
Feb 26, 2018 /PRNewswire/ -- Riot
Blockchain, Inc. (Nasdaq: RIOT) (the "Company") is pleased to
announce that Remo Mancini has been
appointed to the Riot Blockchain Board of Directors. Mr. Mancini
will serve as Lead Director and will serve as Chairman of the Audit
Committee, as a member of the Nominating and Corporate Governance
Committee, and as a member of the Compensation Committee. Mr.
Mancini will serve as an appointed member of the Board until the
next annual meeting of shareholders at which directors shall be
elected, which is expected to be held on or before May 15, 2018.
Mr. Mancini combines his experience as a former Canadian and
U.S. senior corporate executive, corporate director, and former
Ontario Cabinet Minister to bring a valuable perspective to
business affairs and corporate governance.
Mr. Mancini's diverse, hands-on board leadership experience is
extensive. He has served on a number of Boards of companies listed
on the Toronto Stock Exchange and Venture Exchange (TSX and TSX-V),
along with private company Boards and the Boards of several
international business organizations promoting trade, investment
and business opportunities.
In the business world, Mr. Mancini brought publicly acclaimed
leadership to both the Canadian Transit Company and the Detroit
International Bridge Company, the private companies that own,
manage, and operate the Ambassador Bridge, the world's busiest
commercial border crossing, where he served as Executive
Vice-President.
As a distinguished member of the Ontario Legislature for 18
years, Mr. Mancini was a Member of the Cabinet, serving in both
economic and social portfolios (including Minister of Revenue). He
also held the notable positions of Parliamentary Assistant to the
Premier, Official Opposition Party House Leader, Chairman of the
Public Accounts Committee.
Mr. Mancini has earned the internationally recognized
designation of ICD.D and is a graduate of the Directors Education
Program offered by the Institute of Corporate Directors and the
University of Toronto's Rotman School of Management.
Separately, the Company also announced NASDAQ's acceptance of
the plan of compliance submitted in order to comply with the
requirement to hold its 2017 Annual Meeting of Shareholders,
previously adjourned due to the inability to attain the required
50% plus one vote authorized by shareholders at the August 2017 Special Shareholder's Meeting and
under the Company's by-laws. The original 2017 Annual meeting was
adjourned twice, as votes required to achieve a quorum
(approximately 4.2 million votes) fell far short of the required
vote by approximately 3 million shares.
In its submission, the Company also provided information
requested by NASDAQ that the required quorum was increased from
33.3% to 50% plus one vote at the August
2017 Special shareholder meeting and that the Company's
outstanding shares increased to approximately 11 million from
approximately 4.5 million during 2017, which added to the
logistical complexities of achieving a quorum. Further, and
contrary to media reports, NASDAQ was advised the Company would
have had no difficulty reserving a room at this over 1,000 room
hotel on short notice as was the case in August 2017 should the meeting quorum have been
reached prior to adjournment.
About Riot Blockchain
Riot Blockchain, Inc. is leveraging its expertise and a network
of professional advisors to build and support blockchain
technologies. It is establishing an Advisory Board with technical
experience intending to become a leading authority and supporter of
blockchain, while providing investment exposure to the rapidly
growing Bitcoin and blockchain ecosystems. For more information,
visit http://www.RiotBlockchain.com/.
Investor Notice
Investing in our securities involves a high degree of risk.
Before making an investment decision, you should carefully consider
the risks, uncertainties and forward-looking statements described
under "Risk Factors" in Item 1A of our most recent Form 10-Q for
the period ended September 30, 2017
filed with the Securities and Exchange Commission (the "SEC") on
November 13, 2017 and in Item 1A of
our most recent Annual Report on Form 10-K for the fiscal year
ended December 31, 2016 filed with
the SEC on March 31, 2017, as amended
as of April 27, 2017 and August 15, 2017. If any of these risks were to
occur, our business, financial condition or results of operations
would likely suffer. In that event, the value of our securities
could decline, and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones
facing us. Additional risks not presently known to us or that we
currently deem immaterial may also impair our business operations.
In addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. See "Safe Harbor"
below.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," "plans," "expects,"
"intends," "will," "potential," "hope" and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are based upon current expectations of
the Company and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the sections entitled "Risk Factors", copies of which
may be obtained from the SEC's website at www.sec.gov. The parties
do not undertake any obligation to update forward-looking
statements contained in this press release.
Media Contacts
Karen Chase or Travis Kruse
Russo Partners, LLC
(646) 942-5627
(212) 845-4272
karen.chase@russopartnersllc.com
travis.kruse@russopartnersllc.com
Investor Contact
IR@RiotBlockchain.com
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SOURCE Riot Blockchain, Inc.