Arway Corporation Announces Closing of Share Issuance to CEO
Rhea-AI Summary
Arway (CSE:ARWY)(OTCQB:ARWYF) has announced the completion of a share issuance to CEO Evan Gappelberg. The company issued 3,786,363 common shares at a deemed price of CAD$0.055 per share to settle outstanding debt obligations. The issued shares are subject to a four-month holding period, expiring on June 21, 2025.
The share issuance is part of Arway's strategy to align leadership interests with shareholders and promote long-term value creation. The company, which specializes in spatial computing and augmented reality navigation, aims to incentivize and retain key executive talent through this initiative.
Positive
- Debt settlement through share issuance reduces cash obligations
- Increased management alignment with shareholder interests through equity ownership
Negative
- Share issuance results in dilution for existing shareholders
- Low share issuance price of CAD$0.055 indicates potential undervaluation
TORONTO, ON / ACCESS Newswire / February 21, 2025 / Arway Corporation (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) ("Arway" or the "Company") - ARway.ai, a leader in spatial computing and augmented reality navigation, is pleased to announce the successful closing of the issuance of 3,786,363 common shares to its Chief Executive Officer, Evan Gappelberg, in consideration of outstanding indebtedness owing. The shares were issued at a deemed price of Cdn
The shares issued to Mr. Gappelberg are subject to a four-month holding period in accordance with applicable securities regulations, ending 21 June 2025. This closing marks an important step in the Company's ongoing efforts to incentivize and retain top leadership talent while reinforcing the shared commitment to driving the business forward.
About ARway
ARway is a pioneering platform specializing in augmented reality (AR) and AI-driven solutions for event management, venue navigation, and attendee engagement. As a spinoff of Nextech3D.ai, ARway leverages cutting-edge technology to revolutionize the way events are managed and experienced, delivering seamless, interactive, and personalized solutions for attendees and organizers alike.
About Nextech3D.ai
Nextech3D.ai is a leading AI technology company dedicated to delivering innovative solutions across various industries. With a focus on augmented reality, 3D modeling, and AI-powered tools, Nextech3D.ai is committed to transforming how businesses operate and engage with their audiences.
About MapD
MapD is an intuitive, self-serve event management platform offering a comprehensive suite of tools designed to streamline event planning and execution. With its easy-to-use interface, MapD enables clients to manage floor space sales, exhibitor services, speaker schedules, and attendee communications all in real time. By automating event logistics, simplifying the sales process, and providing opportunities for new revenue streams, MapD empowers event organizers to focus on delivering exceptional experiences. Additionally, MapD's future updates include a native mobile app that will incorporate AR wayfinding features for in-person events or serve as a virtual venue for remote events.
For more information, please visit www.ARway.ai.
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To learn more about ARway, please follow on Social Media: Twitter, YouTube, Instagram, LinkedIn, and Facebook, and visit our website: www.arway.ai
Nextech 3D.ai
On October 26, 2022, ARway.ai. was spun-out from its parent Company, Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS). Nextech retained a control ownership in ARway.ai. with 13 million shares, or a
For further information, please contact:
Investor Relations Contact
investor.relations@arway.ai
ARway.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway.ai will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: ARway Corporation
View the original press release on ACCESS Newswire
FAQ
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