May 21, 2021 | Kneat Announces New Director, New Omnibus Plan, and Release Date Q1 Results

LIMERICK, May 21, 2021 /CNW/ – kneat.com, inc. (TSXV: KSI) (“Kneat”) is pleased to announce the election of accomplished executive, Mrs. Nutan Behki, to its Board of Directors, the adoption of its new Omnibus Equity Incentive Plan, and the release date for the company’s first quarter financial results.

Accomplished Technology Executive, Nutan Behki, is Elected to Join Kneat’s Board of Directors

Further to the announcement of her nomination for the company’s board of directors on April 22nd, 2021, Kneat is pleased to confirm Mrs. Nutan Behki’s election to the company’s Board of Directors following the Annual and Special Meeting of Shareholders held on May 20th, 2021.

Mrs. Behki brings over 25 years of global software development leadership experience to Kneat, in addition to significant experience leading large global teams and partner networks.

“The Board of Directors and I are very pleased to welcome Nutan to the team. Her experience in product strategy, SaaS development, and technical leadership will be invaluable to support our continued growth”, said Mr. Ian Ainsworth, Chair of the Board.

Mrs. Behki’s election is accompanied by the re-election of the six existing directors. The company’s Board has now expanded to 7 directors, 5 of whom are independent.

Kneat Adopts New Omnibus Equity Incentive Plan

Kneat reports the adoption of the new Omnibus Equity Incentive Plan (the “Plan”) was approved by the company’s disinterested common shareholders at its Annual and Special Meeting of Shareholders held on May 20th, 2021 for purposes of increasing the interest of, incentivizing, rewarding, attracting, and retaining plan participants.

The Plan permits such number of options (each, an “Option”) to be granted equal to up to 10% of Kneat’s issued and outstanding common shares. The maximum number of common shares available for issuance pursuant to the settlement of DSUs and RSUs shall be 4,000,000. Please refer to the company’s Management Information Circular dated April 15th, 2021, which is available on SEDAR at www.sedar.com under Kneat’s profile, for a copy and summary of the Omnibus Equity Incentive Plan.

Kneat Announces Release Date for First Quarter Financial Results

Kneat announces that the Company will release its Financial Results for the quarter ended March 31, 2021 after TSX-V market close on Tuesday, May 25th, 2021. Eddie Ryan, Chief Executive Officer and Hugh Kavanagh, Chief Financial Officer, will host a conference call and Q&A via webcast on Wednesday, May 26th at 09:00 EDT (14:00 BST).

Interested parties can register for the live webcast via the following link:  Register here

Or, attend via teleconference:

Ireland +353 15 360 755
Canada +1 (647) 497-9389
United States +1 (951) 384-3421
United Kingdom +44 330 221 9922

The First Quarter Financial Results will be available from the Financial Information section of the Investors page on the Kneat Solutions website, at: https://kneat.com/investors/

About Kneat

Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx SaaS platform. Multiple business work processes can be configured on the platform from equipment to computer system validation, through to quality document management. Kneat’s software allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com. 

Cautionary and Forward-Looking Statements

Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.

Neither the 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.

For further information: Hugh Kavanagh, Chief Financial Officer, kneat.com, inc., Kneat Solutions, Unit 7 Castletroy Business Park, Castletroy, Limerick, V94 KW28, Ireland T: +353 61 203826, E: [email protected]