POMPANO BEACH, FL / ACCESSWIRE / January 9, 2025 / Xcyte Digital Corp. (TSXV:XCYT) ("Xcyte", or the "Company"), a trusted global events technology company, specializing in next-generation event solutions, announced today that its Chief Financial Officer, Nelson Lamb, will be departing the Company after successfully helping complete Xcyte's Qualifying Transaction (as such term is defined in Policy 2.4-Capital Pool Companies of the TSX Venture Exchange (the "TSXV")) and positioning the Company for it's next phase of growth.
Xcyte also announced the appointment of Michael Ertle as the new Chief Financial Officer, as part of a comprehensive agreement to provide full accounting and administrative services with a team of professionals with Brio Financial Group ("Brio") effective immediately. Brio's compensation will consist of a monthly retainer and a stock option grant. Brio has been granted today, an aggregate of 400,000 stock options (the "Options"), each of which will be exercisable into one share at a price of C$0.30 per share until the earlier of (i) three years from the date of grant, (ii) 90 days after Brio ceases to provide services to the Company or any of its subsidiaries in any capacity.
Michael Ertle replaces Nelson Lamb who served as CFO since July, 2023. Mr. Ertle brings over 12 years of international corporate accounting and financial management experience. With a proven track record in budgeting, forecasting, and financial modeling, he has consistently driven operational efficiency and growth. His expertise spans financial reporting, regulatory compliance, and strategic planning.
Most recently, Mr. Ertle served as a Manager and Consultant at Brio Financial Services in New York, where he prepared detailed financial statements, led audit processes, collaborated on M&A due diligence, and optimized resource allocation strategies. Prior to this, he held the role of Portfolio Controller at a private equity firm. Mr. Ertle holds a Juris Doctor from Cleveland State University and a Bachelor's Degree in Accounting from Marquette University. Brio Financial Group is a forward-thinking, full-service financial consulting firm that brings experienced finance and accounting expertise to both public and private companies. Founded in 2010, Brio has consulted to over 125 companies as well as numerous banks, hedge funds, venture capital funds and private equity firms.
"I would like to thank Nelson for his hard work and contributions during his tenure and wish him all the best in his future endeavours," said Randy Selman, CEO of Xcyte Digital. "I would also like to welcome Michael as our new CFO. As Xcyte embarks on its next chapter of growth, we remain dedicated to providing outstanding technology and service to our clients across the globe. Michael's leadership and financial expertise will be instrumental as we continue to advance our strategic objectives and drive shareholder value."
About Xcyte Digital
Xcyte Digital (TSXV:XCYT) is a trusted global events technology company, specializing in next-generation applications for physical, hybrid, virtual, immersive, and phone-based events. Combining proprietary technology with a robust partner ecosystem, Xcyte offers both do-it-yourself and managed services, ensuring secure and scalable solutions worldwide. Thousands of clients, from innovative startups to major corporations, rely on Xcyte's cost-effective solutions to meet their event needs. Xcyte Digital is headquartered in Canada and the USA, with operations across the globe. Visit us at xcytedigital.com.
About Brio Financial Group
Brio Financial Group is a forward-thinking, full-service financial consulting firm that brings experienced finance and accounting expertise to both public and private companies. Founded in 2010. Brio has consulted to over 125 companies as well as numerous banks, hedge funds, venture capital funds and private equity firms. Brio has earned a reputation for exceptional client service as a leading outsourced CFO and financial reporting firm. The Brio management team consists of seasoned executives supported by a professional team with experience in finance, complex accounting and reporting, valuation, modeling and taxation.
For further information, please contact:
Xcyte Digital Corp.
Randy Selman, Chief Executive Officer and Director
Phone: (647) 777 7501
Email: investment@xcytedigital.com
Investor Relations
Nikhil Thadani, Sophic Capital
Email: nik@sophiccapital.com
Phone: (647) 777 7501
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Xcyte Digital
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