RAYL Innovations Announces Appointment of New Director

October 5, 2021 9:00 AM EDT

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VANCOUVER, British Columbia, Oct. 05, 2021 (GLOBE NEWSWIRE) -- RAYL Innovations Inc. ("RAYL" or the "Company"), is pleased to announce that pursuant to the news release dated June 23, 2021 the Company has appointed David Tafel as an additional independent Director of the Company fulfilling another key listing requirement of the TSX Venture Exchange (the “TSX-V”):

David Tafel - Independent DirectorMr. Tafel holds a B.A. in Economics from the University of Western Ontario and contributes over 30 years of corporate structuring, strategic planning, financing, and management experience. He has been an officer and director of several private and publicly listed resource companies. He has been instrumental in raising well over $100 million for resource, life sciences, and technology companies. Mr. Tafel managed private investment funds at the most prominent independent Canadian securities firm.

Nicholas Jeffery, the Company’s President & CEO commented: "The board's quality is critically essential to helping the business with both strategy and governance. I'm thrilled to see the incredible quality of our team growing in lock-step with the roll-out of our RAYL portfolio. Month-by-month, we’re attracting additional core team members into the Company to drive the individual business lines and support corporate infrastructure. The expanded team will form a solid foundation for our near-term plans to have our Company's securities traded on a highly esteemed Canadian stock exchange. This is an exciting moment for RAYL; everything we envisioned with our 3-cornered strategy is commercially available or on track to launch as planned. Additionally, we remain on track with the IPO, targeting Q4-2021 (subject to several items including securities commission and exchange approvals)."

About RAYL Innovations Inc.

RAYL Innovations Inc. (“RAYL”) is a Vancouver-based Vancouver-based FinTech company founded in 2020. RAYL offers 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 digital financial solutions. RAYL offers tremendous value to businesses by integrating critical business solutions, financial services, and data analytics with a unique pricing strategy all-in-one integrated and interoperable platform.

For further information on the Company, 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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