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Rainmaker Worldwide Inc. Announces the Strengthening of its Team Following the Sale of its Water Subsidiary Rainmaker Holland BV to Sphere 3D Corp.
Rainmaker Worldwide Inc. Announces the Strengthening of its Team Following the Sale of its Water Subsidiary Rainmaker Holland BV to Sphere 3D Corp..
About this update from Rainmaker Worldwide Inc.
[{"type":"text","content":"\n Peterborough, CA, Jan. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Rainmaker Worldwide Inc. (OTC: RAKR) (“The Company”) announces it will continue to expand its focus on commercializing Environmental, Social and Governance (“ESG”) technologies following the completed sale of its water subsidiary Rainmaker Holland BV to Sphere 3D Corp. (NASDAQ: ANY) (“Sphere 3D”). The transaction is expected to close in less than 10 days. The acquisition was announced on January 4th and will transition the Rainmaker brand under Sphere 3D. RAKR will continue to pursue value creation for its shareholders by leveraging its institutional and market knowledge and asset base.  RAKR will receive a percentage of gross revenue from all Rainmaker operations implemented in Jamaica over the next 4 years. RAKR plans to continue to build global joint venture partnerships and pursue strategic acquisitions of burgeoning technological companies that supports The Company’s vision of a more sustainable future.   The Company’s new chapter will be led by Michael O’Connor, RAKR’s current Executive Chairman who will now assume the role as Interim CEO. Michael Skinner, former CEO becomes Interim CEO of Sphere 3D to ensure a successful transition. Prior to co-founding Rainmaker, Mr. O’Connor was one of the founders of Wind Mobile, now known as Freedom Mobile, which was acquired by Shaw Communications Inc. in 2016 for $1.6 billion. Mr. O’Connor brings over 25 years of expertise in operational, corporate finance, business development and corporate governance to his leadership roles. He has a global track record in business development in Africa, Asia, Europe, and the Middle East having led merger and acquisition projects worth more than $30 billion. RAKR also welcomes Michael Della Fortuna and Dr. Mamdouh Shoukri to RAKR’s Board as independent Directors. Mr. Della Fortuna adds invaluable product and technology development experience to the RAKR board. He is the CEO of Nexeya Canada Inc., which designs, manufactures and supports embedded and stand-alone products for capital intense and mission critical environments. Mr. Della Fortuna is also the current Board Chair of Drone Delivery Canada, a pioneering technology firm with a focus on designing, developing and impl...