Cabo Verde Capital Inc. Appoints Christopher Malone as CFO
Las Vegas, Nevada – TheNewswire - November 23, 2021 – CABO VERDE CAPITAL, INC. (OTC:CAPV) (TSXV:GER) (the “Company”) welcomes Mr. Christopher Malone to the Company as its new CFO.
Mr. Malone is the founding Director of PrOasis, a professional consulting firm, where he has spent the past 31 years managing the firm which focuses on executive management, corporate finance, strategic planning and governance for major Canadian SME organizations. Mr. Malone currently holds the positions as Chief Financial Officer for an OSC registered Fund Manager and an IIROC registered Broker Dealer member. Mr. Malone currently serves as a Director for each of these regulated entities.
Mr. Malone has extensive listing, regulatory reporting and governance experience with private businesses and public companies and Exchanges in Canada and the United States. Mr. Malone’s experience stems from over 39 years in the North American workforce holding senior financial and information technology systems roles in some of Canada’s largest domestic and multi-national organizations. Mr. Malone holds a CPA/CMA designation and graduated from the University of Western Ontario with a B.A. in Commerce and Economics.
In addition, as part of the ongoing restructuring of the Company, the Company also announces the creation of a new class of shares - Series A Convertible Preferred Shares (“Pref Shares”). The Pref Shares shall have a par value of $0.00001 per share, must be converted into shares of Common Stock within fifteen (15) years from the date of issue, shall be assignable and transactable at the sole discretion of the Holder, shall not be entitled to receive any dividends, shall not have any liquidation rights and shall not be entitled to (a) any voting rights with respect to the Pref Shares or (b) notice of any meeting of the shareholders of the Corporation except in each case to the extent specifically required by Nevada law. The Company shall not effect any conversion of the Pref Shares held by a Holder if after giving effect to such conversion the beneficial owner of such shares (together with such beneficial owner's affiliates) would beneficially own in excess of 4.9% of the Company’s common shares outstanding immediately after giving effect to such conversion or exercise. There have been no Pref Shares issued to date.
The Company has also increased the Authorized number of common shares to 1,000,000,000. As of November 22, 2021 there are 109,673,652 common shares issued and outstanding, of which 88,686,123 shares are restricted and 20,987,529 unrestricted.
Forward Looking Statements:
This 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. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
John Duggan, President
Cabo Verde Capital, Inc.