NightFood Holdings Inc (NGTF) has released an update to notify the public and investors about an entry into a material definitive agreement.
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On February 2, 2024, Nightfood Holdings, Inc. (NGTF) completed a share exchange that resulted in Future Hospitality Ventures Holdings Inc. (FHVH) becoming its wholly-owned subsidiary. Sean Folkson, previously holding NGTF’s Series A Preferred Stock, resigned as CEO but entered a consulting agreement to potentially remain as a director and serve as president of a subsidiary until at least December 31, 2024. He will receive compensation and bonuses, including equity, under certain conditions. Lei Sonny Wang, with a background in managing companies addressing operational challenges, was appointed as the new CEO of NGTF with an initial one-year term under an employment agreement, receiving a base salary with terms similar to Folkson’s consulting agreement.
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For a comprehensive understanding of the announcement, you can read the full document here.
