TORONTO, May 2, 2022
/CNW/ - Newtopia Inc. ("Newtopia" or the "Company")
(TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled habit change
provider focused on preventing, slowing and reversing chronic
disease, today announced the appointment of Collin Swenson as the Company's new Chief
Financial Officer, effective immediately. Mr. Swenson succeeds
Edmond Lem, Interim Chief Financial
Officer.
"On behalf of our entire team and Board of Directors, I would
like to thank Edmond for his invaluable contributions to Newtopia
during his time as our Interim CFO. Edmond has been an integral
part of the team since we became a publicly listed company, and he
will continue to support Newtopia as our Senior Vice President of
Finance," said Jeff Ruby, Founder
and CEO of Newtopia. "We are also thrilled to welcome Collin Swenson as our new Chief Financial
Officer. Collin brings a wealth of experience leading finance
operations for innovative U.S. healthcare and technology companies.
His strong background in financial management and operations will
be a tremendous asset to our team," Mr. Ruby concluded.
Collin Swenson brings over 15
years of financial leadership experience at both public and private
companies to Newtopia, including roles in operations, capital
raising, M&A, financial planning and accounting. Mr. Swenson
began his career at General Electric, graduating from the company's
prestigious Financial Management Program prior to holding various
Treasury, Financial Planning & Analysis (FP&A) and
Operational Finance roles at GE Healthcare and GE Capital over a
ten year period. Subsequently, Mr. Swenson played a key supporting
finance role as part of Ally Financial's 2014 initial public
offering in which the company raised over US$2.4 billion. He also led the FP&A and Data
Analytics Department at SelectHealth, Intermountain Healthcare's
integrated health plan. Prior to joining Newtopia, Mr. Swenson
spearheaded finance operations for Valeo, a private equity-backed
home health company. Mr. Swenson received his Bachelor's degree in
Finance from Brigham Young University
and holds an MBA from Northwestern
University's Kellogg School of Management.
"I am thrilled to join Newtopia, a company that is a fantastic
fit for me on both a personal and professional level," said Mr.
Swenson. "My time working in the U.S. healthcare system, coupled
with the global pandemic, further solidified my belief that we need
to drastically change the focus of healthcare from caring for the
sick to preventing and slowing chronic disease in the first place.
Newtopia is a proven leader in promoting that mission for the
benefit of individuals and health insurers alike, and I look
forward to partnering with Jeff and the entire Newtopia team to
build upon the Company's growth trajectory while promoting
shareholder value."
About Newtopia
Newtopia is a tech-enabled habit change provider focused on
disease prevention and reducing the cost of care for health
insurers. As a provider of whole person care, we prevent, reverse
and slow the progression of chronic disease while enriching mental
health, resilience and overall human performance. Newtopia's
programs leverage genetic, social and behavioral insights to create
individualized prevention programs with a focus on type 2 diabetes,
heart disease, stroke and weight. With a person-centered approach
that combines virtual care, digital tools, connected devices and
actionable data science, Newtopia delivers sustainable clinical and
financial outcomes. Newtopia serves some of the largest nationwide
employers and health plans and is currently listed on the Toronto
Stock Exchange and quoted on the OTC Venture Market in the U.S.
(TSXV: NEWU) (OTCQB: NEWUF). To learn more,
visit newtopia.com, LinkedIn or Twitter.
Forward Looking
Statements
This press release contains forward-looking information and
forward-looking statements, within the meaning of applicable
Canadian securities legislation, and forward looking statements,
within the meaning of applicable United
States securities legislation (collectively,
"forward-looking statements"), which reflects management's
expectations regarding Newtopia's future growth, results from
operations (including, without limitation, future production and
capital expenditures), performance (both operational and financial)
and business prospects and opportunities. Wherever possible, words
such as "predicts", "projects", "targets", "plans", "expects",
"does not expect", "budget", "scheduled", "estimates", "forecasts",
"anticipate" or "does not anticipate", "believe", "intend" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative or grammatical variation thereof or
other variations thereof, or comparable terminology have been used
to identify forward-looking statements. All statements other than
statements of historical fact may be forward-looking information.
Such statements reflect Newtopia's current views and intentions
with respect to future events, based on information available to
Newtopia, and are subject to certain risks, uncertainties, and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. While forward-looking
statements are based on data, assumptions and analyses that
Newtopia believes are reasonable under the circumstances, whether
actual results, performance or developments will meet Newtopia's
expectations and predictions depends on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of Newtopia to differ materially from its
expectations. These forward-looking statements include, among other
things, TSXV approval of the Offering, the use of proceeds from the
Offering, statements relating to Newtopia's business plans and
outlook. Forward-looking statements are not a guarantee and are
based on a number of estimates and assumptions management believes
to be relevant and reasonable, whether actual results, performance
or developments will meet Newtopia's expectations and predictions
depends on a number of risks and uncertainties that could cause the
actual results, performance and financial condition of Newtopia to
differ materially from its expectations. Certain of the "risk
factors" that could cause actual results to differ materially from
Newtopia's forward-looking statements in this press release
include, without limitation: the termination of contracts by
clients, risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities
to try to limit the pandemic, including travel restrictions, border
closures, non-essential business closures, quarantines,
self-isolations, shelters-in-place and social distancing,
disruptions to markets, economic activity, financing, supply
chains and sales channels, and a deterioration of general
economic conditions including a possible national or global
recession; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in Newtopia's disclosure documents, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com including Newtopia's final long form prospectus dated
March 30, 2020.
Should any factor affect Newtopia in an unexpected manner, or
should assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, Newtopia does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release, and Newtopia undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Newtopia Inc.