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  • Cloud Nine Web3 Technologies Inc. (CNI) appoints new President and CEO, makes additional changes in leadership, and grants new stock options for $462,000
  • Lucas Russell is stepping in as President and CEO immediately
  • Cloud Nine also sends of Peter Lee from its board and welcomes Justin Jacobson as Vice President of Operations
  • The company has also granted stock options to directors and officers to acquire an aggregate of 1.1 million common shares for $0.42 per share for five years
  • Cloud Nine leverages Web 3.0 technology to enable decentralized movement among consumers and businesses alike
  • Cloud Nine Web3 Technologies Inc. (CNI) is up 20.45 per cent trading at $0.53 per share as of 12:11 p.m. EST

Cloud Nine Web3 Technologies (CNI) has appointed Lucas Russell as President and CEO and granted stock options.

Allan Larmour has resigned as CEO and Sefton Fincham has resigned as President effective immediately. Larmour is stepping down to pursue other opportunities but will continue to remain a director of the company. Fincham will be available to provide consulting services upon request.

Lucas Russell has over 10 years of experience in the financial markets and has been involved with entrepreneurial businesses for over 15 years. He has served several publicly traded companies.

Russell has been an active investor in several successful crypto start-ups and currently serves as CEO of Valdor Technology International Inc. (VTI). He is overseeing the acquisition and capital raise of a Layer 2 crypto technology company and implementing its new business strategy and direction. 

Russell commented on the appointment.

“I look forward to working with the executive team and I am eager to support the company’s expansion as I work to deliver success and create value for our shareholders.”

The company has appointed Justin Jacobson as Vice President of Operations. Jacobson has over 15 years of experience in strategic business development and operational project management with private and public companies. Jacobson founded Fraser Valley Capital Inc.

Cloud Nine has also granted stock options to directors and officers to acquire an aggregate of 1.1 million common shares for $0.42 per share for five years.

900,000 restricted share units (RSU) were awarded to directors and officers for a period of two years. Each RSU entitles the holder to receive one common share.

Cloud Nine leverages Web 3.0 technology to enable decentralized movement among consumers and businesses alike.

Cloud Nine Web3 Technologies Inc. (CNI) is up 20.45 per cent trading at $0.53 per share as of 12:11 p.m. EST.

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