Newgioco Group, Inc. ("Newgioco" or the "Company") (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced the appointment of Clive P. Kabatznik to serve as an independent director of the Board of Directors effective June 26, 2019. Mr. Kabatznik shall also serve on the audit committee, the compensation committee, and the corporate governance and nominating committee of the Board.
"Clive, along with Paul Sallwasser and Steven Shallcross who were appointed to our Board recently, significantly improve our corporate governance and provide meaningful business expertise to our Board," commented Chief Executive Officer, Michele (Mike) Ciavarella. "Together, their extensive international experience with both small and large listed and private companies in various fields of technology should be of considerable benefit to Newgioco's direction, governance and growth for all our shareholders. This is another step towards demonstrating our commitment to the highest standards of corporate governance and to completing our long anticipated exchange listing. We will continue to build our senior personnel over the coming weeks and to firm up our unique go-to-market plan for the U.S. as an important component of our pathway to profitability."
Mr. Kabatznik currently serves in several key roles with a variety of entities and with over 37 years of extensive versatile global business expertise, including as Founding member of 40K LLC, Chairman of Datos Health, Director of Harbor Inland Rum Company, Co-founder of Fluid Spirits Holdings and Director of Icagen, Inc. He brings a wealth of corporate and strategic business skills to Newgioco including the use of digital and computational platforms to solve the marketing and technological challenges facing both new and established businesses. He was previously, the Founder and Chief Executive Officer of Silverstar Holdings, which was one of the first U.S. publicly-listed companies to invest as an acquirer of South African businesses. In carrying out his responsibilities, Clive was instrumental in raising $250 million in equity and convertible debt to finance acquisitions and expansion since inception, including a Nasdaq Initial Public Offering and further equity and convertible debentures issued by Morgan Stanley, Bankers Trust and UBS. He also led an initial public offering of South African Companies on the Johannesburg Stock Exchange in 1999, the first such offering of a foreign subsidiary after the fall of apartheid for total proceeds $25 million. Mr. Kabatznik currently is a Member and serves on the Board of Governors and Executive Committee, Hebrew University of Jerusalem, Israel as well as the President of the American Friends of the Hebrew University, United States. He is a graduate, 1977-1979 with an M.A. in Sociology, Hebrew University of Jerusalem, Israel and 1974-1977 with B.A. in History and Sociology, Hebrew University of Jerusalem, Israel.