TORONTO, April 25,
2023 /CNW/ - The group of longstanding shareholders
(the "Concerned Shareholders") of Sernova Corp (TSX: SVA) (OTCQB:
SEOVF) (FSE: PSH) (XETRA: PSH) ("Sernova" or the "Company")
wishes to thank all shareholders for their participation in
electing the next Board of Directors.
The intended function of the Board is to represent all
shareholders and other stakeholders in setting the course, the
tone, and the direction of Sernova in the achievement of its
fullest potential. Shareholder participation is the foundation of
this representation.
We hope Dr. Steven Sangha and Mr.
Bertram von Plettenberg will be
elected to the Board at the upcoming AGM this Thursday, April 27. Both look forward to
fulfilling the mandate they have proposed to shareholders. Messages
and testimonials from shareholders supporting our two nominees make
clear that this election is about more than monetization of the
Sernova products and applications. Many shareholders, either
personally or through loved ones, are directly impacted by chronic
conditions targeted by the cell pouch. Their desire to see Sernova
succeed goes beyond financial incentive. Speed to market is
primary.
The Concerned Shareholders have delivered Gold proxies
representing in excess of 36% of the issued and outstanding shares
of Sernova. We thank the Company's current management and Board of
Directors in recognizing the support from these more than 110
million votes, and trust they will proceed with expediency,
transparency and good will to facilitate the election of the next
Board of Directors.
If you have any questions, please contact Carson Proxy
Advisors at North American toll free phone at 1-800-530-5189, local
(collect outside North America)
416-751-2066 or by email at info@carsonproxy.com.
Advisors
Kushneryk Morgan LLP is serving as legal advisor to Dr. Sangha
and Stephan Dubreuil and Carson
Proxy Advisors is acting as strategic shareholder communications
advisor to the Concerned Shareholders.
Cautionary Statement Regarding Forward-Looking
Information
Certain information included, attached to, provided with, or
incorporated by reference into this release may contain
forward-looking statements, as such term is defined and/or used in
applicable Canadian securities legislation, about the objectives of
the Concerned Shareholders as they relate to Sernova, the impact of
the Concerned Shareholders Nominees, if elected, on the financial
condition, results of operations, business strategies, revenue
enhancements, and competitive position of Sernova, each as
described in this release, and other matters.
All statements included or incorporated by reference in,
attached to, or provided with this release, other than statements
of historical fact, are forward-looking statements, including,
without limitation, statements regarding activities, events or
developments that the Concerned Shareholders expect or anticipate
may occur in the future. These forward-looking statements can be
identified by the use of forward-looking words such as "possibly",
"will", "expect", "intend", "plan", "estimate", "potential",
"anticipate", "believe" or "continue" or similar words or the
negative thereof and include statements concerning support for the
Concerned Shareholders, the implementation and timing of the
Corporation's business strategy, the plans and intentions for the
future by the Concerned Shareholders Nominees, the role for members
of current management and the search for new members of management,
transition plans, financing arrangements and the future market for
and liquidity of the Corporation's shares.
The forward-looking statements included in this release are
based on understandings and reasonable assumptions, beliefs,
opinions and expectations of the Concerned Shareholders at the time
they are made. These assumptions include, but are not limited to,
Sernova's future growth potential; its results of operations;
future cash flows; the future performance and business prospects
and opportunities of Sernova; the election of the Concerned
Shareholders Nominees; the ability of the Concerned Shareholders
Nominees, if elected, to effect positive change at Sernova and
appoint other individuals as directors; the response to and outcome
of any court applications that may be made against the Concerned
Shareholders; the implementation and timing of Sernova's business
strategy; the current general and regulatory environment and
economic conditions remaining unchanged; the availability of
financing; operating and capital costs; Sernova's available cash
resources; Sernova's ability to identify, attract and retain
skilled staff, including a new Chief Executive Officer; currency
exchange rates; required capital investments; estimates of net
present value and internal rate of returns; market competition;
ongoing relations with employees and other stakeholders in the
gaming community; and general business and economic conditions.
There can be no assurance that the plans, intentions or
expectations upon which these forward-looking statements are based
will occur. We caution readers of this release not to place undue
reliance on forward looking statements contained in this release,
which are not a guarantee of performance and are subject to a
number of uncertainties and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. These factors include shareholder
actions, court decisions, the timing of the Meeting, actions by the
Corporation, its management, members of the Current Board,
unexpected change of control consequences, the failure of
shareholders to nominate the Concerned Shareholders Nominees, the
status of Sernova's assets, financial condition and corporate books
and records, general economic and market conditions, availability
of capital, changes in law, regulatory processes, actions of
competitors, and the ability to implement business strategies and
pursue business opportunities and financing alternatives after a
state of uncertainty. Holders of Common Shares in the capital of
the Corporation are cautioned that all forward-looking statements
involve risks and uncertainties, including those risks and
uncertainties detailed in Sernova's filings with applicable
Canadian securities commissions, copies of which are available
under Sernova's issuer profile at www.sedar.com. We urge you to
carefully consider those factors. The forward-looking statements
contained in this release are expressly qualified in their entirety
by this cautionary statement. The forward-looking statements
included in this release are made as of the date of this release
and the Concerned Shareholders undertake no obligation to publicly
update such forward-looking statements to reflect new information,
subsequent events or otherwise, except as required by law.
SOURCE The Group of Shareholders of Sernova Corporation
