RAYL Innovations Announces AGM Results

June 23, 2021 6:00 PM EDT

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VANCOUVER, British Columbia, June 23, 2021 (GLOBE NEWSWIRE) -- RAYL Innovations Inc. ("RAYL" or the "Company"), is pleased to announce that all management resolutions proposed in the Company’s Notice of Annual General Meeting of Shareholders were approved by shareholders at its Annual General Meeting held Thursday June 17, 2021, including:

  1. The number of Directors for the Company was set at three;
  2. The three members elected to the Board of Directors include: Jeremy Wright, Nicholas Jeffery, and Elyssia Patterson;
  3. Harbourside CPA, was appointed as auditor of the Company for the ensuing year; and
  4. The Company's Stock Option Plan was ratified.

About RAYL Innovations Inc.

RAYL Innovations Inc. (“RAYL”) is a Canadian, Vancouver-based, FinTech company founded in 2020, offering business application solutions for SME business owners and merchants through RAYL.Apptive and RAYL.ApptivePro; and will be positioned in the short-term to provide integrated payment processing and other financial solutions. While our direct competitors only offer payment services, RAYL has the potential to add tremendous value to businesses by integrating key business solutions, financial services, and data analytics, with a unique pricing strategy all on one integrated and interoperable platform.

For further information on the Company, its management team, RAYL.Apptive and ApptivePro, RAYL.Pay, and RAYL.Financial, please visit our website at www.rayl.com.

ON BEHALF OF THE BOARD “Jeremy Wright, CPA, CMA”Director

For Further Information Contact: Jeremy Wright, CPA, CMA, Director(604)837-7990 jwright@rayl.com

Unless otherwise denoted, all currencies in Canadian Dollars.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect“, "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements.

This news release may contain forward-looking statements and information concerning RAYL Innovations Inc. (“the Company”); and includes its wholly owned subsidiaries; RAYL Business Solutions Inc., and Post Socratic Ventures Inc.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the success of new product development, the Company’s ability to integrate acquired businesses and complete strategic acquisitions of additional business and other factors that affect demand for the Company’s products.

Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company’s actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to expenditures and other factors that affect demand for the Company’s products, industry competition, the need to effectively integrate acquired businesses, uncertainties as to the Company’s ability to implement its business strategy effectively in Canada and the United States, labor, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments, political and economic conditions and the Company’s ability to attract and retain key personnel.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether, as a result of new information, future events or otherwise, except as required by law.

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Source: RAYL Innovations Inc.

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