Ynvisible Interactive Inc. (the "Company" or "Ynvisible")
(TSX-V:YNV, FSE:1XNA, OTCQB:YNVYF), a fast-growing firm in the
Internet of Things market, today announced the expansion of its
sales team, in response to the Company's growth in income from
clients, and further aligning the 2025 Vision of expansion and
worldwide sales.
Richard Ellinger, a 25-year sales executive, joins Ynvisible
Interactive as its United States Sales representative. Keith
Morton, CTO and founder of Display Logic, a leading designer and
manufacturer of display-based products and solutions, joins
Ynvisible's Advisory Board.
Ynvisible is a manufacturer of standard and customized
ultra-low-power and easy-to-use electronic displays and indicators
for everyday smart objects, Internet of Things ("IoT") devices, and
ambient intelligence (intelligent surfaces). The Company sells
prototyping, development, pilot production, volume production of
electrochromic displays, and tailored IoT product solutions.
Ynvisible's short-term revenues come from a mix of customer-funded
developments that precede pilot and full-scale manufacturing.
Historically, Ynvisible's sales team is in Europe; Richard
Ellinger extends Ynvisible's physical sales footprint to North
America.
"Ynvisible is poised for growth in North America as Fortune 500
companies are based in the United States and feel we can deliver to
them with a dedicated, US-based sales presence. We are continuing
to see steady growth of client developments in the Fast Moving
Consumer Goods, Medical Packaging and Logistics segments. The
United States has rebounded significantly from the Covid-19
pandemic; our clients are seizing this opportunity to improve their
supply chains and provide new, breakthrough products. We are
thrilled to welcome Richard to join our team at the right time and
in the right place," says Michael Robinson, CEO of Ynvisible
Interactive.
"Richard Ellinger brings deep strategic business development
expertise within the technology, cold-chain logistics, medical and
packaging sectors. Ynvisible is now more accessible to our growing
market. Richard is an expert at realizing holistic product
solutions, and he accelerates our customers' path to
commercialization," continues Tommy Hoglund, VP Sales &
Marketing, Ynvisible Interactive.
RICHARD ELLINGER Richard Ellinger joins Ynvisible
Interactive Inc. as its US Sales representative, covering the
United States. Before joining the Company, Ellinger was VP Sales
and Marketing of American Semiconductor, where he led Sales and
investment efforts. In addition, he spent four years at Packsense /
Emerson as Chief Operating Officer and then Vice President of
Operations, respectively. Before growing Packsense sales by 75%,
Mr. Ellinger managed Temperature Assurance Group, providing
solutions to Pharmaceutical and Biotechnology Cold Chain issues.
Richard was CEO of Intelligent Thermal Solutions before his role at
Temperature Assurance Group. Before that, he was the Director of
Sales and Marketing for Tegrant Corporation, a leading provider of
highly engineered protective, temperature-assured, and retail
security packaging solutions. Before Tegrant Corporation, Richard
worked in various Sales and Marketing leadership roles driving
sales growth. Rich holds an MBA from the University of Notre Dame
and a BA from St. Louis University and has studied French, German,
and Russian.
KEITH MORTON Ynvisible's Advisory Board members infuse
further Consumer, Technology, and Business insights into Ynvisible.
These inspiring professionals work collaboratively with like-minded
experts and organizations to cultivate relationships with industry,
academia, government, and financial partners. Ultimately, this
infusion of new perspectives will transform the entire Ynvisible
value chain.
Keith Morton joins Ynvisible's Advisory Board as the current
Chief Technology Officer and Founder of Display Logic, located in
Hauppauge, New York. Display Logic offers various display products
and solutions (LCD, OLED, touch-screen, and display enhancing
technologies). Since its formation, Display Logic has consistently
innovated in the areas of display performance and interfacing.
"We now have an Advisor that brings deep commercial display
development and sales experience across the North American display
market. Keith has strong Asian business relations, and he knows
what it takes for Ynvisible to compete," starts Michael
Robinson.
"Keith found Ynvisible and immediately engaged us on how to grow
– this is a testament to Keith's energy and enthusiasm around new
technologies and growing businesses. We are honored that Keith
accepted to join our Advisory Board; we are already discovering our
clear product differentiation and new business opportunities," Mr.
Robinson concludes.
Before founding Display Logic in 2007, Keith Morton was Director
of Marketing of the Display Division at Bell Microproducts, where
he managed all display sales and marketing activities, supplier
management, and integration. Before Bell Microproducts, Keith was
Marketing Manager at ARROW Electronics. Keith also holds a patent
in display optical improvement.
Stock Options Ynvisible has granted incentive stock
options to acquire an aggregate of 2,465,000 common shares in the
capital of the Company at an exercise price of $0.75 (the "Stock
Options") in accordance with its 10% rolling incentive stock
option plan.
A total of 450,000 of these Stock Options were granted to an
officer of the Company. All Stock Options are exercisable for a
five-year term expiring July 1, 2026, and are subject to certain
vesting provisions with 1/3 of the Options vesting on the date that
is nine months from the date of grant, 1/3 vesting on the date that
is 21 months from the date of grant, and the final 1/3 vesting on
the date that is 33 months from the date of grant.
In addition, incentive stock options to acquire an aggregate of
350,000 common shares in the capital of the Company were granted
with an exercise price of $0.63 on June 3, 2021 (the
"Options"). A total of 100,000 of these Options were granted
to a director of the Company. All Options are exercisable for a
five-year term expiring June 3, 2026, and are subject to certain
vesting provisions. The Stock Options granted to the director vest
1/3 on the date that is four months from the date of grant, 1/3 on
the date that is eight months from the date of grant, and the final
1/3 vest on the date that is 12 months from the date of grant. The
remaining 250,000 stock options vest 1/3 on the date that is nine
months from the date of grant, 1/3 on the date that is 21 months
from the date of grant, and the final 1/3 on the date that is 33
months from the date of grant.
About Ynvisible Interactive Inc. Ynvisible is a leading
company in the emerging printed and flexible electronics sector.
Given the cost and power-consumption advantages over conventional
electronics, printed electronics are a key enabler of mass adoption
of the Internet of Things ("IoT") and smart objects. Ynvisible has
the experience, know-how and intellectual property in
electrochromic materials, inks, and systems. Ynvisible's
interactive printed graphics solutions solve the need for ultra-low
power, mass deployable, & easy-to-use electronic displays and
indicators for everyday smart objects, IoT devices, and ambient
intelligence (intelligent surfaces). Ynvisible offers a mix of
services, materials and technology to brand owners developing smart
objects and IoT products. Additional information on Ynvisible is
available at www.ynvisible.com.
ON BEHALF OF THE BOARD OF DIRECTORS "Michael Robinson," CEO, Ynvisible Interactive
Inc.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements This news release contains
forward-looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. All statements, other than statements of
historical fact, that address activities, events or developments
the Company believes, expects or anticipates will or may occur in
the future, including, without limitation, statements about the
Company's Q3 forecast of sales, cost of sales, operating expenses
and income from other sources; the Company's business strategy,
plans and outlooks; the future financial or operating performance
of the Company; and future marketing and operating plans are
forward-looking statements. Forward-looking statements are subject
to a number of risks and uncertainties that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking statements and, even if such actual results are
realized or substantially realized, there can be no assurance that
they will have the expected consequences to, or effects on, the
Company. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things: the impact of COVID-19; risks and uncertainties related to
additional costs being subsequently identified and the allocation
of costs between reporting periods; and the possibility that the
actual financial results will not be consistent with the Company's
expectations. Actual results may differ materially from those
currently anticipated in such statements. Readers are encouraged to
refer to the Company's public disclosure documents for a more
detailed discussion of factors that may impact expected future
results. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, unless required pursuant to
applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20210706005789/en/
Investor Relations Elyssia Patterson +1 778-683-4324
ir@ynvisible.com
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