Genesis Electronics Group Announces Appointment of Jack Hedge as Strategic Advisor to the Board of Directors

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Genesis Electronics Group, Inc.

Jack Hedge, Former President and Executive Director of the Utah Inland Port Authority, Joins the Company to Leverage His Expertise and Accelerate the Company’s Business Plan

Salt Lake City, UT, Nov. 01, 2022 (GLOBE NEWSWIRE) — In a statement issued Tuesday, November 1, 2022 by Genesis Electronics Group, Inc. (OTC: GEGI), please note that an additional word “to” has been removed from a quote by Jack Hedge. The corrected version follows:

Salt Lake City, UT – November 1, 2022 – Genesis Electronics Group, Inc. (GEGI), today announced that it has officially added Jack Hedge as a Strategic Advisor to the Company‘s Board of Directors.

Genesis Electronics Group (GEGI) recently announced the acquisition of Glīd, LLC, a first-of-its-kind road-to-rail autonomous trucking company that is revolutionizing the way trucking companies can take advantage of rail efficiencies. To advance Glīd’s business objectives, Genesis Electronics Group is pleased to bring Jack Hedge to the company as a strategic advisor.

Jack has had a distinguished career in the transportation industry where he most recently served as Chairman of the Utah Inland Port Authority. He became Chairman in June 2022 after serving as Executive Director since June 2019. His main priority was to develop and build one of the country’s leading sustainable intermodal logistics hubs that will help prepare, support and manage the continued economic growth of the country. ‘Utah.

Mr. Hedge was previously Director of Cargo and Industrial Real Estate for the Port of Los Angeles. In this role, Mr. Hedge led the development, leasing and asset management functions of the largest container port complex in North America, managing a portfolio of $4 billion and over $270 billion of cargo. per year.

Mr. Hedge’s previous roles include Director of Real Estate and Asset Management for the Port of Tacoma, Managing Director of North American Energy Services Capital and Director of Development at Enserch International LTD.

Mr. Hedge commented, “I am delighted to join Genesis Electronics Group as an advisor to the Board of Directors. Glīd is a breakthrough technology that has the potential to dramatically change the way freight is processed and goods are moved throughout the supply chain. Innovations like Glīd will lead us to a smart, sustainable and fair supply chain.

“We are more than pleased to welcome Jack as an advisor to the company,” said GEGI CEO Braden Jones. “A lot has happened over the past few weeks that we believe will bring significant shareholder value to the company. The announcement of the acquisition with Glīd took months and we have built a class A team who can take this business to the next level.The hiring of Mr. Jack Hedge as an advisor adds a very important addition to our already brilliant team.

Mr Jones continued: “Mr. Hedge’s contacts and connections within the transportation industry are second to none. He knows everyone and has the ability to connect people and create value in many ways. He has already done this for GEGI and we expect it to continue to bring great value to the company.

Genesis Electronics Group has assembled a world-class team to execute its Glīd technology and business plan. The company previously announced the addition of Kevin Damoa and Kasey Evans as strategic advisors to the board.

Mr. Evans is a founding partner of Lane VC. Lane VC is a prolific investor in emerging and established technologies in the electric and autonomous vehicle industries. Some of Lane VC’s portfolio companies include: XOS Trucks, Einride, Serial 1 and Vanderhall. Mr. Evans’ experience originally comes from the trucking and transportation industry where he held leadership positions with PACCAR, Pilot Thomas Logistics and Autocar Trucks. He has worked with various venture capital firms and has become a seasoned investor in some of the hottest mobility innovation companies.

Mr. Evans is an expert in rapid and sustainable growth. He is a dynamic and innovative leader experienced in sales, business development, negotiations, mergers and acquisitions, finance, asset management, expense reduction and general management.

Mr. Damoa is an experienced operations professional and military veteran with a demonstrated history of working in the aviation and aerospace, electrification, electric mobility and defense industries. Mr. Damoa has held critical leadership positions in young start-ups and established companies. His background includes managing flight module logistics at SpaceX, integration project manager at Northrop Grumann, vice president at Romeo Power Technology, vice president at XOS Trucks, logistics manager at Canoo and Vice President of Operations as Serial 1 Cycle Company.

Mr. Damoa specializes in operations management, program/project management, compliance engineering, logistics operations, team building, organizational leadership, and mechanical/structural design.

In connection with the acquisition and merger of Glīd, LLC, the Company wishes to highlight the convertible note and the convertible preferred stock paid in exchange for the technology, has conversion lock-up periods that will prevent the issuance of common stock for at least 24 months. This ensures that all parties involved in the transaction are linked to the long-term success of the Company and that there will be no immediate dilutive impacts as part of the transaction.

As previously announced, Genesis Electronics has acquired Glīd, LLC to revolutionize the trucking and transportation industry. For more information on Glīd’s technology, visit https://glidrail.com/ The company’s Twitter account is: @GenesisElectro4.

About Genesis Electronics Group, Inc.

Genesis Electronics Group, with its patent-pending flagship technology, Glīd, allows two specially designed “Glīder” vehicles to move independently and autonomously under an unmodified fully loaded semi-trailer, connect to both the kingpin hitch and rear axle, then raise the trailer. Once the trailer is lifted off the ground, the Glīders, using a uniquely designed wheel system, will be able to enter railway tracks (via forked railway spur, asphalt or concrete roads), deploy railway wheels, and then transport the semi-trailer and travel at speeds up to 70-80 mph.

Unlike traditional methods of transporting tractor-trailers by stacking them on railcars and then those railcars that sometimes sit in ports for days or weeks, gliders are able to move easily from rail to private roads, which makes connections much easier, cheaper and faster. Each glider could roll off the tracks onto private land, where a semi-tractor could then pick it up and take it on the final leg to its destination.

Genesis Electronics Group assembles a team of self-directed experts to identify businesses and/or technologies that can be acquired and applied to specific industries that are ripe for disruption.

Forward-looking statements

This press release may contain “forward-looking statements”. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not rely on any such forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those set forth in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our CTA annual disclosure report. Markets for the year ended December 31, 2020. Any forward-looking statement we make in this release is based solely on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update publicly any forward-looking statements, whether written or oral, which may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by applicable law. ‘required.

Press contacts:

Genesis Electronics Group, Inc.
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