3 Sixty Secure Appoints Special Committee to Undertake Strategic Review

ALMONTE, Ontario, May 01, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) has initiated a strategic review process with a view to enhancing shareholder value.  

The review will be conducted by a special committee (the "Special Committee") comprised solely of independent directors of the Board, consisting of Mr. Ariel Mashiyev (Chair), Mr. David Beck and Mr. Nitin Kaushal.

The Special Committee has been authorized to identify, evaluate and consider a broad range of alternatives available to the Company, focused on providing the necessary capital to execute on the Company's strategic plan.

"As executives, major shareholders and members of the Board of Directors of 3 Sixty, I strongly support the formation of the independent Special Committee, and respect its mandate," said Chairman, a.i., Founder and CEO, Thomas Gerstenecker.  "We are looking forward to exploring options that are brought forward by the Special Committee, to support the company's continued growth and enhance shareholder value," he added.

The review has not been initiated in response to any proposal received by the Company. The Company, with the assistance of the Special Committee and its advisors, intends to complete the review process in a timely fashion, however, there is no assurance that these efforts will be successful or that the review process will result in pursuing or completing any transaction and no timetable has been set for the completion of the review process. The Corporation will update the market when it determines that further disclosure on the review process is appropriate or required.

The Company is also announcing the departure of Neil Weaver. “On behalf of 3 Sixty, we wish Neil the very best in all his future endeavours,” said Thomas Gerstenecker.

About 3 Sixty Risk Solutions Ltd.

3 Sixty Risk Solutions Ltd., operating through its wholly-owned subsidiary, 3 Sixty Secure Corp., is one of Canada's leading security service providers to the cannabis sector, transporting approximately $250 million of product every month. 3 Sixty provides cannabis security consulting, guarding and secure transport security services to more than 600 customers and more than 100 licensed cannabis producers, including some of the world's largest, such as licensed producers owned by Canopy Growth Corporation. 3 Sixty has a staff of over 650 employees and employs a fleet of over 150 vehicles, which management believes provides a combined security footprint to approximately 35 million square feet of patrolled area.