00:28:05 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



TUT Fitness Group Inc
Symbol GYM
Shares Issued 36,605,349
Close 2023-09-08 C$ 0.08
Market Cap C$ 2,928,428
Recent Sedar Documents

TUT Fitness Group appoints Croom as CFO

2023-09-11 14:44 ET - News Release

Mr. Rob Smith reports

TUT FITNESS APPOINTS DAVID CROOM AS CHIEF FINANCIAL OFFICER AND APPROVES OPTION GRANT

TUT Fitness Group Inc. has has appointed David Croom as chief financial officer of the company.

David Croom is a seasoned CFO with over 25 years of experience at both public and private companies including Cannex Capital, Cray Supercomputers, Microsoft, Amazon and Chevron where he held senior roles in capital markets, M&A, tax and finance, and comptroller functions. He is an experienced financial executive who has led revenue, profitability and growth initiatives to deliver shareholder value.

"Dave's skills, industry knowledge and network will be invaluable as we grow our business across multiple verticals generating complementary revenue streams," said Rob Smith. TUT CEO. "His background in the fitness industry will be invaluable and his appointment is timely as we prepare to expand our North American operations and capitalize on the growing opportunities in the health and wellness sector.

As well as owning a Seattle fitness facility and Tier 2 Washington cannabis cultivation and processing business, Dave has significant early stage and high growth experience as an advisor, board member and investor in Seattle's vibrant technology and start up community. He previously held senior accounting, finance and comptroller positions at Cray Supercomputers, Microsoft, Amazon and Chevron and completed his Accounting Degree at Washington State University.

The Company has granted incentive stock options to directors, officers, employees and contractors of the Company to purchase up to 3,440,000 common shares of the Company at a price of $0.10 per share. The stock options are exercisable on or before September 8, 2028 and vest in stages with 25% vesting immediately and the remainder to vest 25% every six months from the grant date. Of the total options granted, 1,550,000 were awarded to directors and officers of the Company. The stock options were granted pursuant to the terms of the Company's stock option plan and are subject to regulatory approval.

The Company would also like to announce that it has accepted the resignation of Praveen Varshney as a director of the Company. TUT Fitness would like to thank Mr. Varshney for his guidance and contributions to the Company in its formative stages and wishes him the best in his future endeavors.

ABOUT TUT FITNESS GROUPTUT Fitness is a Vancouver-based designer and Canadian manufacturer of high-performance and affordable fitness products, targeting the rapidly growing US$16.5 billion global home fitness equipment market. TUT's industry-first patented resistance band technology (stackable TUT Plates(TM)) is the backbone of the TUT Trainer(TM) Microgym, a high-performance and versatile alternative to bulky exercise machines and free weights. Weighing only 11.6 lbs, the TUT Trainer(TM) differs from traditional machines by allowing progressive resistance to be added to any rep or movement. The TUT Trainer(TM) replicates a full gym experience with more than 350 exercises delivering all-in-one functional strength, prehab/rehab and cardio training in less than 2 square feet of space.

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