Creatd to Present Uplisting Plan at Annual Shareholder Meeting

Published on November 10, 2022

  • Company to hold its 2022 shareholders' meeting on January 9, 2023, with registration details to be announced.
  • Management to present on anticipated timeline in its pursuit of a re-listing to a national exchange.

NEW YORK, Nov. 11, 2022 /PRNewswire/ -- Creatd, Inc. (OTCQB: CRTD) ("Creatd" or the "Company"), a creator-first technology company, today is announcing its upcoming 2022 Annual Meeting of Stockholders (the "Annual Meeting"), to be held on January 9, 2023.

Shareholders of record as of the close of business on November 18, 2022, are entitled to notice of, and to vote at, the Annual Meeting and at any adjournment thereof.

Commented Chairman and CEO, Jeremy Frommer, "With the support of our shareholders we will take the next step forward in a plan to re-list on a national exchange. We have been down this path before. It is not new territory. We are better prepared, with a stronger and leaner business model, a reconstituted board, and a renewed commitment to the success of the company. As we continue to lower cash burn, including a 50% reduction in full-time staff, we expect revenues to remain stable."

Continued Frommer, "Gross revenue projections for fiscal year 2022 are between $7 - 10MM, with net revenue projections of between $5.2 - 5.6MM, up from $4.3MM the previous year. Over the past few quarters, we have made significant strides in lowering our customer acquisition cost across all of our product and service offerings. Our management team is confident that we can resume the same level of growth in fiscal year 2023 that we experienced throughout the earlier part of this year, and currently projects $15 - 20MM in gross revenues and net revenues between $8 - 12MM for FY23. This projected number could rise significantly, depending on the success of our planned acquisition strategy for the upcoming year. As we have said since the founding of the company, our intention is to generate long-term value for our shareholders as we build a world-class, creator-first technology company. We continue to operate with that north star metric every day."

In addition to voting on the proposals to be outlined in the definitive Proxy Statement, including an increase in authorized share count, the Annual Meeting will include a virtual presentation and Q&A with Creatd's management team. Details regarding voting procedures and registering to attend the virtual meeting will be made available shortly.

Forward Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.

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