3 Sixty – Letter to Stakeholders

ALMONTE, Ontario, Dec. 23, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) is pleased to provide an update regarding its business and operations to company stakeholders.

Dear Stakeholders of 3 Sixty Risk Solutions Ltd.:

Please let me introduce myself: my name is David Beck. I am the Chairman of the Board of Directors (BOD) at 3 Sixty Risk Solutions Ltd. (‘3 Sixty’). I am writing this letter to all company stakeholders as an extension of, and further to a press release dated November 23, 2020 entitled ‘Business Update’. In April 2020, I joined the 3 Sixty BOD and was subsequently appointed to Chairman in September. While my priority and statutory duty is to work to the benefit of all stakeholders of 3 Sixty, with 16.2 million shares, I am also the second largest shareholder of 3 Sixty.

In October, I was joined on the BOD by Andrew Ellis and Rita Simkin. Andrew and Rita have since taken active roles in the company as interim CEO and interim COO, respectively. Andrew and Rita join existing BOD members, myself, Christian Grunt and Nitin Kaushal. Further, 3 Sixty founder, Thomas Gerstenecker, resigned as CEO and Director.

Before I elaborate on details, it is important to state two things. First, all current BOD members are not receiving any cash or equity compensation. We are accruing modest cash and stock compensation, which will be honoured only when we are confident of the company’s financial position, including satisfaction of critical payables. Second, the company’s management and employees continue to deliver on customer commitments, build a pipeline of new business opportunities and produce revenue.

Our Priority – Enabling trading on the CSE

The BOD is focused on ensuring the Company files all outstanding financial statements, MD&A and other continuous disclosure documents in order to apply for a revocation of the current cease trade order (CTO) imposed against 3 Sixty’ securities by the Ontario Securities Commission on July 15, 2020. It is important to understand that the CTO impacts more than our equity shareholders. It impacts our ability to recruit and retain key employees, pay and work with dedicated suppliers, and service and build customer relationships and we are working diligently to rectify the situation.