CLEARWATER, FL / ACCESSWIRE / January 9, 2024 / Fortune Rise Acquisition Corporation (NASDAQ:FRLA) ("FRLA") today announced that Ryan Spick has recently moved from FRLA's Board to the role of Principal Executive Officer and Chief Financial Officer to execute on its proposed business combination with Water on Demand, Inc. ("WOD"), a privately-held subsidiary of OriginClear, Inc. (OTC: Other: OCLN) and owner of FRLA's sponsor, Fortune Rise Sponsor LLC, with which it has signed a definitive business combination agreement (the "Business Combination").
With a background in institutional and commercial construction, Ryan Spick specializes today in planning, strategizing, and managing sophisticated real estate projects from start to finish.
"As a Director, Ryan has been highly responsive and supportive of the Board's work and our fiduciary role," said Ronald Pollack, FRLA's Chairman of the Board. "We are looking forward to his continued help with this vital operating function.'
Mr. Pollack added, "Ryan replaces Richard Brand, who has been called away for other projects. We greatly appreciate Richard's time, care and wisdom, and we wish him well on his future initiatives."
On the FRLA Board, Mr. Spick has been replaced by Beau Vuillemot, cofounder of an ecommerce startup which was sold for over $100 million. Mr. Vuillemot has remained with the acquirer to create the infrastructure to facilitate its growth and combined gross revenue of over $200 million annually.
About Fortune Rise Acquisition Corporation
FRLA is a blank check company incorporated in February 2021 as a Delaware corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
FRLA is a "shell company" as defined under the Securities Exchange Act of 1934, as amended. FRLA will not generate any operating revenues until after the completion of its initial business combination, at the earliest. To date, FRLA's efforts have been limited to organizational activities and activities related to its initial public offering as well as the search for a prospective business combination target.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Safe Harbor Statement
Matters discussed in this release contain forward-looking statements. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect," "plans" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law.
Contact Information:
Fortune Rise Acquisition Corporation
Ryan Spick
[email protected]
SOURCE: Fortune Rise Acquisition Corporation