Lottery.com (the “Company” or “Lottery.com”), a leading platform
that allows its users to play the lottery online, announced today
that Luc Vanhal has been appointed as the Company’s chief financial
officer.
Since 1990, Vanhal has been providing executive leadership in
the roles of chief financial officer, chief operating officer and
president. In addition to being the chairman of several boards, he
has also been a member of the compensation & audit committees
for Interplay Entertainment Corp., a video game developer and
publisher, and ViewSonic, a multinational electronics company.
As chief financial officer of the $3 billion consumer products
division of The Walt Disney Company from 1990 to 1999, Vanhal led
over 500 team members in planning, business development, financial
reporting, accounting and acquisitions. Among many other
highlights, from 2001 to 2004, he managed the development of World
of Warcraft, which still has over five million paying subscribers,
at Vivendi Universal Games.
Vanhal brings to Lottery.com years of experience in global
executive management with an expertise in financial leadership. Not
only does he have experience working in the gaming sector, Vanhal
also brings his skills of navigating through highly regulated
industries.
“I’m thrilled to attract such a talented and proven veteran in
finance and accounting with great industry experience,” said
Lottery.com CEO Tony DiMatteo. “We needed a strong candidate
leading us through the upcoming transition to becoming a public
company. Combine this with our aggressive expansion into new states
and countries, which brings all new financial regulations to
consider, and it was clear to us that Luc was the obvious
choice.”
As CFO, Vanhal will lead Lottery.com’s global finance
organization and will be responsible for accounting, treasury,
financial planning and analysis. He will also play a crucial role
in Lottery.com's global expansion plans, in both regulatory matters
and acquisitions.
“I am very excited to join Lottery.com just as they are about to
execute on their blue ocean strategy,” said Vanhal. “Lottery.com
has recently seen significant and compelling growth trends and,
based on the market share availability, they are just beginning. As
we look towards the next few years of growth in store for
Lottery.com, I can’t express how thrilled I am to be working with
such great team members that are working diligently to ensure
pristine execution. Working directly alongside such dedicated and
driven leaders, I am confident we will accomplish tremendous growth
and enhance value for our shareholders.” On February 22, 2021, the
Company entered into a definitive agreement with Trident
Acquisitions Corp. (Nasdaq: TDACU, TDAC, TDACW) to become a
publicly traded company on The Nasdaq Stock Market. Trident and the
Company intend to publish an investor presentation relating to the
proposed business combination in the coming weeks.
About Lottery.com
Lottery.com is an Austin, TX-based company
enabling consumers to play state-sanctioned lottery games from
their home or on the go in the US and internationally. The Company
works closely with state regulators to advance the lottery
industry, providing increased revenues and better regulatory
capabilities, while capturing untapped market share, including
millennial players. Lottery.com is also gamifying charitable giving
to fundamentally change how nonprofits engage with their donors and
raise funds. Through their WinTogether.org platform, they offer
charitable donation sweepstakes to incentivize donors to take
action by offering once in a lifetime experiences and large cash
prizes.
Important Information and Where to Find
it
In connection with the proposed business
combination, Trident Acquisitions Corp. (“Trident”), expects to
file a registration statement on Form S-4 (the “Registration
Statement”) that will include a preliminary proxy statement with
the U.S. Securities and Exchange Commission (“SEC”) for the
solicitation of proxies from Trident's shareholders. Additionally,
Trident will file other relevant materials with the SEC in
connection with the proposed business combination. Copies may be
obtained free of charge at the SEC's web site at www.sec.gov. A
definitive proxy statement will be mailed to Trident shareholders
as of a record date to be established for voting on the proposed
business combination. Investors and security holders of Trident are
urged to read the Registration Statement and the other relevant
materials when they become available before making any voting
decision with respect to the proposed business combination because
they will contain important information about the business
combination and the parties to the business combination. The
information contained on, or that may be accessed through, the
websites referenced in this press release is not incorporated by
reference into, and is not a part of, this press release.
Forward Looking Statements
The information in this press release includes
“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. All statements, other
than statements of present or historical fact included in this
presentation, regarding the proposed business combination between
Trident and Lottery.com, Trident and the Company’s ability to
consummate the transactions, the benefits of the transactions, the
Company’s estimated growth, operational and state expansion, and
the combined company’s future financial performance, as well as the
combined company’s strategy, future operations, estimated financial
position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this press release, the words “could,”
“should,” “will,” “may,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, the Company disclaims any duty to update any
forward-looking statements, all of which are expressly qualified by
the statements in this section, to reflect events or circumstances
after the date of this press release. The Company cautions you that
these forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of either Trident or the Company. In
addition, the Company cautions you that the forward-looking
statements contained in this press release are subject to the
following factors: (i) the occurrence of any event, change or other
circumstances that could delay the business combination or give
rise to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against
Trident or the Company following announcement of the proposed
business combination; (iii) the inability to complete the business
combination due to the failure to obtain approval of the
stockholders of Trident, or other conditions to closing in the
business combination agreement; (iv) the risk that the proposed
business combination disrupts the Company’s current plans and
operations as a result of the announcement of the transactions; (v)
the Company’s ability to realize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and the ability of the Company to grow and manage
growth profitably following the business combination; (vi) costs
related to the business combination; (vii) risks related to the
rollout of the Company’s business and the timing of expected
business milestones; (viii) the Company’s dependence on obtaining
and maintaining lottery retail licenses or consummating partnership
agreements in various markets; (ix) the Company’s ability to
maintain effective internal controls over financial reporting,
including the remediation of identified material weaknesses in
internal control over financial reporting relating to segregation
of duties with respect to, and access controls to, its financial
record keeping system, and the Company’s accounting staffing
levels; (x) the effects of competition on the Company’s future
business; (xi) risks related to the Company’s dependence on its
intellectual property and the risk that the Company’s technology
could have undetected defects or errors; (xii) changes in
applicable laws or regulations; (xiii) the COVID-19 pandemic and
its effect on the Company and the economy generally; (xiv) risks
related to disruption of management time from ongoing business
operations due to the proposed business combination; (xv) risks
relating to privacy and data protection laws, privacy or data
breaches, or the loss of data; and (xvi) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors. Should one or more of the risks or
uncertainties described in this press release materialize or should
underlying assumptions prove incorrect, actual results and plans
could differ materially from those expressed in any forward-looking
statements. Additional information concerning these and other
factors that may impact the operations and projections discussed
herein can be found in the reports that Trident has filed and will
file from time to time with the SEC, including its Annual Report on
Form 10-K for the fiscal year ended December 31, 2019. Trident’s
SEC filings are available publicly on the SEC’s website at
www.sec.gov.
Participants in the
Solicitation
Trident and its directors and officers may be
deemed participants in the solicitation of proxies of Trident's
shareholders in connection with the proposed business combination.
Lottery.com and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of Trident's executive officers and directors
in the solicitation by reading Trident's Annual Report on Form 10-K
for the fiscal year ended December 31, 2019, and the Proxy
Statement and other relevant materials filed with the SEC in
connection with the business combination when they become
available. Information concerning the interests of Trident's
participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement relating to the business combination
when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer
to sell or the solicitation of an offer to buy any securities or
constitute a solicitation of any vote or approval.
Lottery.com Contact:Cody
Billingsley(512) 537-5713cody@lottery.com
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