Toggle3D.AI Options Issuance and CEO Change

Rhea-AI Summary

Toggle3D.ai (OTCQB:TGGLF) has announced significant changes in its leadership and stock options issuance. The company has appointed Evan Gappelberg as CEO, replacing Hareesh Achi with immediate effect. Additionally, the company issued several stock options: 50,000 two-year options at $0.095/share to new board member Peter Bloch, 500,000 two-year options at $0.095/share to CFO Anum Wagas, and 50,000 two-year options at $0.095/share to board member Anthony Pizzonia.

Peter Bloch joins the board with extensive experience as a CPA and CA, having previously served as CEO of BresoTEC Inc. and Bionik Laboratories. His track record includes significant roles at Sanofi Canada, Intellivax Inc., Tribute Pharmaceuticals, Gennum , and Just Energy, managing companies with revenues up to $2 billion.

Positive

• Appointment of experienced executive Peter Bloch to Board of Directors, bringing extensive public company management expertise
• Strategic alignment of management interests with shareholders through stock option issuance

Negative

• Sudden CEO change may indicate internal instability
• Significant stock option issuance (600,000 shares total) could lead to future dilution

TORONTO, ON / ACCESSWIRE / January 10, 2025 / Toggle3D.ai (the "Company") (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C), a Nextech3d.ai (OTCQB:NEXCF)(CSE:NTAR) spinout is an innovative AI 3D platform harnessing the power of generative AI to convert CAD files, apply stunning 4K texturing, and seamlessly publish superior 4K 3D models announces stock options issuance.

Toggle3d.ai issued Peter Bloch, a successful entrepreneur and new BOD member 50,000 2-year stock options exercisable at .095/share. The company also issued 500,000 2-year .095/share options to Anum Wagas CFO. BOD member Anthony Pizzonia was also issued 50,000 2 year stock options at .095/share. Also, Hareesh Achi been replaced by Evan Gappelberg as CEO effective immediately.

New BOD member Bio:

Peter Bloch was the Chief Executive Officer of BresoTEC Inc. Mr. Bloch was also the CEO & Chairman of Bionik Laboratories from 2012 to 2018. Mr. Bloch is a CPA, CA, with a track record of building both public and private technology companies, mainly in the life sciences industry. In these roles, Mr. Bloch has secured significant funding for both private and public companies, gained experience with initial public offerings and led a number of acquisitions and partnership transactions. His past 25 years of executive management experience includes serving as Chief Financial Officer and joint interim CEO of Sanofi Canada Inc., the Canadian affiliate of Sanofi -Aventis, a global healthcare leader; Chief Financial Officer of Intellivax Inc., a biotechnology company which was sold to GlaxoSmithKline for $1.75 billion; founder of Tribute Pharmaceuticals, a specialty pharmaceutical company; the Chief Financial Officer of Gennum Corporation, a public semiconductor company focused on the TV and medical device market and Chief Financial Officer of Just Energy, a large public electricity and gas company . These companies have ranged in size from start-ups to companies with revenues of over $2 billion. Mr. Bloch also has substantial experience serving on the Board of Directors of both public and

private companies. Mr. Bloch also serves as an advisor to Mars Discovery District, a large Canadian incubator for technology companies.

About Toggle3D.ai Toggle3D.AI is a leading provider of innovative 3D rendering solutions, dedicated to transforming the way businesses visualize and present their products. Our platform harnesses the power of artificial intelligence to deliver high-quality, customizable images quickly and efficiently, helping e-commerce businesses thrive in a competitive market.

Toggle3D.ai Investor Relations Visit the Toggle3D Investor Relations website and sign up for the investor mailing list to receive the latest news, press releases, investor presentations, CEO interviews, financial information and more. Sign up for the investor mailing list - click here

Follow Toggle3D.ai on Social Media Youtube: https://www.youtube.com/@Toggle3D Insta: https://www.instagram.com/toggle3d.ai/ Facebook: https://www.facebook.com/Toggle3D LinkedIn: https://www.linkedin.com/company/toggle3d-ai/ Twitter: https://twitter.com/Toggle3Dai

For further information, please contact:

Toggle3D.ai
Evan Gappelberg
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. Nextech 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: Toggle3D.AI Inc.

View the original press release on accesswire.com

FAQ

What changes were made to Toggle3D.ai (TGGLF) leadership in January 2024?

Evan Gappelberg replaced Hareesh Achi as CEO of Toggle3D.ai, and Peter Bloch was appointed as a new board member.

How many stock options did Toggle3D.ai (TGGLF) issue in January 2024?

Toggle3D.ai issued a total of 600,000 stock options: 500,000 to CFO Anum Wagas and 50,000 each to board members Peter Bloch and Anthony Pizzonia.

What is the exercise price and term of the TGGLF stock options issued?

The stock options have an exercise price of $0.095 per share and a two-year term.

What is Peter Bloch's background as new board member of Toggle3D.ai (TGGLF)?

Peter Bloch is a CPA and CA who previously served as CEO of BresoTEC and Bionik Laboratories, with executive experience at companies including Sanofi Canada, Intellivax, and Just Energy.