Mr. Daniel Japiassu reports
YDX INNOVATION CORPORATE UPDATE
Kyle Sarwal has resigned as a director and chief strategic officer of YDX Innovation Corp. The board of directors has decreased in size from six to five directors. The company thanks Mr. Sarwal for his contributions and wishes him well in his future endeavours.
Further to the news releases of April 16, 2020, and March 16, 2021, the company has issued 116,439 common shares to settle amounts drawn down pursuant to a revolving convertible loan agreement dated April 16, 2020, as amended on May 22, 2020, between the company and The Sarwal Group Enterprise Inc. The amounts drawn down and converted total $18,510.
Additionally, the company has issued 398,283 shares to Mr. Sarwal in consideration of services provided as the chief strategy officer pursuant to an consulting agreement dated Nov. 15, 2020.
The securities issued for both issuances are subject to a statutory hold period of four months plus one day.
About YDX Innovation Corp.
YDX Innovation is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, e-sports and gaming. Its core business seeks to monetize through licensing its intellectual property, through developing interactive exhibitions, and through e-sports tournaments and content.
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