Fairplay Ventures Inc. Announces Change of CEO

TORONTO, June 28, 2024 (GLOBE NEWSWIRE) -- Fairplay Ventures Inc. (TSXV: FPY.P) ("Fairplay" or the "Company"), today announces that Mark Scarrow, currently the Chief Financial Officer of the Company, has been appointed Chief Executive Officer of the Company effective June 30, 2024 (the "Effective Date").

The Company has concurrently accepted the resignation of Nicholas Meyer, its current Chief Executive Officer, as of the Effective Date. Mr. Meyer has resigned due to an upcoming permanent relocation to Switzerland. The Company thanks Mr. Meyer for his efforts on behalf of the Company and wishes him all the best in his future endeavours.

Mr. Scarrow will continue as Chief Financial Officer following the Effective Date, in addition to his new role of Chief Executive Officer.

About Fairplay Ventures Inc.

Fairplay has not commenced commercial operations and the Company currently has no assets other than a minimum amount of cash. Except as specifically contemplated in Policy 2.4 of the TSX Venture Exchange, until the completion of a Qualifying Transaction the Company will not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a proposed Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

For further information please contact:

Mark Scarrow  
Chief Financial Officer
Tel: 416-617-0305
Email: [email protected]

Cautionary Note Regarding Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, including the Company's goal of completing a Qualifying Transaction, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information and include, in this press release, statements regarding the composition of the Company's board of directors and management as at and following the Effective Date. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including that there will be no additional or alternative resignations by directors or officers of the Company between the date hereof and the Effective Date. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: additional appointments and resignations of directors and officers; any completion by the Company of a Qualifying Transaction; receipt of applicable director, shareholder and regulatory approval of a Qualifying Transaction; changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.