BOCA RATON, Fla.--(BUSINESS WIRE)--
Ominto, Inc. (Nasdaq:OMNT), a global leader in online Cash Back
shopping, today announced that the company's Board of Directors has
appointed Mitch Hill as Executive Chairman of the Board. Mr. Hill will
continue his work with Michael Hansen and the Board to provide
leadership in developing and executing the company's business strategy.
Mr. Hill has served on the company's Board of Directors since May of
2015 and as an Executive Director since June of 2016. He also served as
the company's Interim CEO during the first six months of 2016.
Mr. Hill has C-level executive experience in a number of public and
private companies including real estate, entertainment, healthcare and
e-commerce. Earlier in his career, he was President and CFO of Buy.com
Inc., a high-profile pioneer in early e-commerce solutions, which is now
part of Rakuten, Inc. Prior to Buy.com, Mr. Hill served in a financial
executive capacity for the Walt Disney Company and worked in the
investment banking division of Goldman Sachs. Throughout his career he
has supported startup launches, and has transformed companies from R&D
phases and private capitalization to commercialization with
manufacturing, marketing and sales, including preparation for IPO. Mr.
Hill received his MBA from the Harvard Business School and his BS from
Brigham Young University.
Commenting on today's announcement, Mr. Hansen stated, "I look forward
to continuing to work with Mitch. We appreciate the strategic, financial
and transactional expertise he contributes to the company."
About Ominto, Inc.
Ominto, Inc. is a global e-commerce leader and pioneer of online Cash
Back shopping, delivering value-based shopping and travel deals through
its primary shopping platform and affiliated Partner Program websites.
At DubLi.com or at Partner sites powered by Ominto.com, consumers shop
at their favorite stores, save with the best coupons and deals, and earn
Cash Back with each purchase. The Ominto.com platform features thousands
of brand name stores and industry-leading travel companies from around
the world, providing Cash Back savings to consumers in more than 120
countries. Ominto's Partner Programs offer a white label version of the
Ominto.com shopping and travel platform to businesses and non-profits,
providing them with a professional, reliable web presence that builds
brand loyalty with their members, customers or constituents while
earning commission for the organization and Cash Back for shoppers on
For more information, please visit Ominto's corporate website http://inc.ominto.com.
This press release contains forward-looking statements that involve
substantial risks and uncertainties. These include statements about
Ominto's expectations, beliefs, intentions or strategies for the future,
which are indicated by words or phrases such as "anticipate," "expect,"
"intend," "plan," "will," "believe," "projects," "could," "would," and
similar expressions. You can also identify them by the fact that they do
not relate strictly to historical or current facts. The forward-looking
statements reflect Ominto's current view about future events and are
subject to risks, uncertainties and assumptions. Because forward-looking
statements relate to the future, by their nature, they are subject to
inherent uncertainties, risks, and changes in circumstances that are
difficult to predict. Ominto may not actually achieve the expectations
disclosed in the forward-looking statements and you should not place
undue reliance on Ominto's forward-looking statements. These
forward-looking statements involve risks and uncertainties that could
cause actual results or events to differ materially from the
expectations disclosed in the forward-looking statements, including, but
not limited to: risks related to our ability to continue as a going
concern being in doubt; Ominto's inability to generate enough customers
or enough purchasing activity for our shopping websites; Ominto's
inability to establish and maintain a large growing base of Business
Associates; Ominto's failure to adapt to technological change; increased
competition; increased operating costs; changes in legislation
applicable to Ominto's business; Ominto's failure to improve our
internal controls; and Ominto's inability to generate sufficient cash
flows from operations or to secure capital to enable us to maintain our
current operations or support our intended growth; along with other
risks and potential factors that could affect Ominto's business and
financial results identified in Ominto's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
fiscal year ended September 30, 2016.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170621005334/en/
Source: Ominto, Inc.
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