Chris Pavlovski, Rumble’s Founder, CEO and Largest Shareholder, Comments on Upcoming Lock-Up Expiration
September 05 2023 - 7:30AM
Rumble Inc. (Nasdaq: RUM), the popular video-sharing platform,
today announced that the company’s Founder and CEO Chris Pavlovski
plans to continue standing firmly behind the company and its
mission and will therefore not sell any of his Rumble shares when
the lock-up agreements that were part of the company’s business
combination with CF Acquisition Corp. VI expire on September 16,
2023.
“When the lock-up is lifted, it will become
evident who truly stands for free speech and who has other
motivations. I, for one, remain deeply and passionately committed
to our mission to protect a free and open internet,”
commented Mr. Pavlovski. “I did not take Rumble public just to sell
my shares as soon as I can, and therefore have no plans to
sell.”
As presented in Rumble’s proxy statement related
to its most recent annual shareholder meeting, as of April 21,
2023, Mr. Pavlovski was the beneficial owner of 140,182,173 shares
of Rumble’s Class A Common Stock, all of which are subject to
lock-up or vesting requirements, representing 44.6% beneficial
ownership of Class A Common Stock.
About Rumble
Rumble is a high-growth neutral video platform
that is creating the rails and independent infrastructure designed
to be immune to cancel culture. Rumble’s mission is to restore the
Internet to its roots by making it free and open once again. For
more information, visit corp.rumble.com.
Forward-Looking Statements
Certain statements in this press release and the
associated conference call constitute “forward-looking statements”
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Statements contained in this press release that are
not historical facts are forward-looking statements and include,
for example, results of operations, financial condition and cash
flows (including revenues, operating expenses, and net income
(loss)); our ability to meet working capital needs and cash
requirements over the next 12 months; statements by our CEO
regarding his intentions with respect to his company shares; and
our expectations regarding future results and certain key
performance indicators. Certain of these forward-looking statements
can be identified by using words such as “anticipates,” “believes,”
“intends,” “estimates,” “targets,” “expects,” “endeavors,”
“forecasts,” “could,” “will,” “may,” “future,” “likely,” “on track
to deliver,” “accelerate,” “looks forward to,” “begins to focus
on,” “plans,” “projects,” “assumes,” “should” or other similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, and our actual results could
differ materially from future results expressed or implied in these
forward-looking statements. The forward-looking statements included
in this release are based on our current beliefs and expectations
of our management as of the date of this release. These statements
are not guarantees or indicative of future performance. Important
assumptions and other important factors that could cause actual
results to differ materially from those forward- looking statements
include, but are not limited to, the possibility that we may be
adversely impacted by economic, business, and/or competitive
factors; our limited operating history making it difficult to
evaluate our business and prospects; our inability to effectively
manage future growth and achieve operational efficiencies; our
recent and rapid growth not being indicative of future performance;
our inability to grow or maintain our active user base; our
inability to achieve or maintain profitability; our failure to
comply with applicable privacy laws; occurrence of a cyber incident
resulting in information theft, data corruption, operational
disruption and/or financial loss; potential liability for hosting a
variety of tortious or unlawful materials uploaded by third
parties; negative publicity for removing, or declining to remove,
certain content, regardless of whether such content violated any
law; impediment of access to our content and services on the
Internet; significant market competition that we face; changes to
our existing content and services resulting in failure to attract
traffic and advertisers or to generate revenue; our dependence on
third party vendors; our inability to realize the expected benefits
of financial incentives that we offer to our content creators;
potential diversion of management's attention and consumption of
resources as a result of acquisitions of other companies and
success in integrating and otherwise achieving the benefits of
recent and potential acquisitions; failure to maintain adequate
operational and financial resources or raise additional capital or
generate sufficient cash flows; adverse effect on our business by
compliance obligations imposed by new privacy laws, laws regulating
social media platforms and online speech in the U.S. and Canada;
regulations regarding paid endorsements by content creators; and
those additional risks, uncertainties and factors described in more
detail under the caption “Risk Factors” in our Annual Report on
Form 10-K for the year ended December 31, 2022, Quarterly Report on
Form 10-Q for the quarter ended June 30, 2023, and in our other
filings with the Securities and Exchange Commission. We do not
intend, and, except as required by law, we undertake no obligation,
to update any of our forward-looking statements after the issuance
of this release to reflect any future events or circumstances.
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements.
Rumble Social
Media
Investors and others should note that we
announce material financial and operational information to our
investors using our investor relations website
(investors.rumble.com), press releases, SEC filings and public
conference calls and webcasts. We also intend to use certain social
media accounts as a means of disclosing information about us and
our services and for complying with our disclosure obligations
under Regulation FD: the @rumblevideo X (formerly Twitter) account
(twitter.com/rumblevideo), the @rumble TRUTH Social account
(truthsocial.com/@rumble), the @chrispavlovski X (formerly Twitter)
account (twitter.com/chrispavlovski), and the @chris TRUTH Social
account (truthsocial.com/@chris), which Chris Pavlovski, our
Chairman and Chief Executive Officer, also uses as a means for
personal communications and observations. The information we post
through these social media channels may be deemed material.
Accordingly, investors should monitor these social media channels
in addition to following our press releases, SEC filings and public
conference calls and webcasts. The social media channels that we
intend to use as a means of disclosing the information described
above may be updated from time to time as listed on our investor
relations website.
For investor inquiries, please
contact:
Shannon DevineMZ Group, MZ North
America203-741-8811investors@rumble.com
Source: Rumble Inc.
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