NEWPORT BEACH, Calif., Oct. 12, 2023 (GLOBE NEWSWIRE) — GivBux, Inc. (OTC: GBUX), a revolutionary Super App and charitable giving platform, announced today Umesh Tim Singh has been named President of the Company, Michael Arnkvarn has been appointed Vice President of International Business Development, and Kerry Mitchell will remain a member of the Board of Directors. Mr. Singh succeeds President Robert “Bob” Thompson and is a member of the Board of Directors. Mr. Thompson will continue to be a shareholder and a member of GivBux’ Board of Directors.
When asked about the leadership changes and timing, GivBux Founder Kenyatto Jones explained, “We have been working toward implementing these changes for some time and want to give special thanks to outgoing president Bob Thompson for his excellent leadership in guiding the company to this point, including his direct involvement with the recruitment and selection of our new slate of officers and directors. We are pleased to announce that Bob will remain an active member of the Board going forward. As we mentioned in our last release, these past months have been a whirlwind of activity as we finalized some aspects of our model, upgraded and added new features to our Super App, and laid plans for an upcoming marketing campaign that we believe will make GivBux a household name sooner rather than later. We are confident that we now have the leadership team in place to make that happen.”
Umesh Tim Singh, President, Director
Mr. Singh is a Certified Professional Accountant with more than 25 years of experience in Accounting and Finance. After spending two years at Price Waterhouse Cooper, he went on to Hayes Stuart Little & Company (now Grant Thornton), where he was Senior Accountant-Manager for two years before spending 10 more years as a Partner. Prior to being named President, he has been a member of the GivBux Advisory Board for more than three years, providing leadership and expert advice on a wide range of matters including those involving accounting and finance. Mr. Singh is widely appreciated for his strong analytical skills, expertise in customer & inter-company relations, talent for complex problem-solving, and excellent organizational and communication skills.
Robert (Bob) Thompson, Director
Mr. Thompson has a distinguished background in all facets of business management, including operating and managing publicly traded companies and negotiating acquisitions, mergers, and joint ventures. He spent 15 years as a nuclear design engineer working alongside multiple universities, including Stanford University and major corporations, including JPL (Jet Propulsion Laboratory), Chevron, Unocal, and Texaco. He then founded environmental and nuclear sales and marketing company CalBay Controls (CBYI), which he took public and guided to $20 million in sales. In 2012, Mr. Thompson became President of Resource Ventures, Inc. (REVI), which, under his direction, grew to $50 million in sales. In 2018 he became Director and CTO for Optec, Inc., a division of Automotive Products, Inc., where he was instrumental in developing and marketing the Optec Fuel Maximize Technology, for which he has filed both domestic and international patents. Mr. Thompson has served as President of GivBux, Inc. since 2020 and remains on the GivBux Board of Directors.
Michael Arnkvarn, Vice President of International Business Development, Director
Mr. Arnkvarn is a seasoned executive with over 30 years of experience in management, sales, and marketing. He managed and directed several medium to large agribusiness and environmental businesses before founding Collagenna Skin Care Products, a natural health products and cosmetics company in 2004. He has been the CEO of several small-cap publicly traded companies and a founding member of a start-up cannabis company that was eventually sold for more than $800 million. Mr. Arnkvarn has a reputation for being an excellent team builder who surrounds himself with some of the best talent available.
ABOUT GIVBUX, INC:
The GivBux Super App revolutionizes shopping by offering a user-friendly tool to make purchases swiftly at over 100 national retailers, along with an expanding roster of local merchants. Users earn cashback on every purchase, a portion of which can be directed towards a charity of their choice, embodying GivBux Inc.’s commitment to “give back.” Additionally, the app is evolving to include numerous functionalities like social networking, e-commerce, banking, messaging, food delivery and transportation, following the Super App model.
With aspirations to build the largest community of givers in the United States (and eventually globally), GivBux is forging a new path. For more details and regular updates, visit https://givbux.com.
Safe Harbor Statement
This press release contains “forward-looking statements” and information, as defined within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and as such are by definition subject to risks and uncertainties. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s sales, marketing, and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
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