Trakopolis IoT Corp. announced that Mr. Brent Moore has resigned his position as Chief Executive Officer and a Director of the Company with immediate effect. Mr. Richard Clarke, formerly Chief Financial Officer of the Company, has been appointed as the Chief Executive Officer and a Director of the Company.

Richie has served as the Company's Chief Financial Officer since 2013 and has been significantly involved in its restructuring efforts. In addition, the Company has appointed Mr. Chris Burchell, a current Director of the Company, as Chief Restructuring Officer ("CRO") to oversee the Company's previously announced restructuring efforts. Chris has served as a Director since October 2016 and has substantial restructuring and M&A experience having spent more than 14 years in the investment banking industry.

The Company continues to work closely with its financial and other advisors to successfully conclude the restructuring process and will provide further updates once available.