SOURCE: Spiral Toys

Spiral Toys

September 17, 2015 16:26 ET

Spiral Toys Appoints Mike Drath to Board of Directors

LOS ANGELES, CA--(Marketwired - Sep 17, 2015) - Spiral Toys (OTCQB: STOY), a leading provider of mobile-connected, wireless entertainment technology, has appointed media and consumer products industry veteran, Mike Drath, to its board of directors. Drath replaces Gordon McDougall, maintaining the board's composition of three directors, with two serving independently.

Drath brings to the board more than 15 years of corporate strategy, finance and operations experience, in public company and start-up environments. His experience in consumer-facing media, products and services, particularly with Disney Consumer Products and Disney Mobile in both physical product and digital content sales, is especially complementary to Spiral's business. Since 2013, he has been the chief operating officer and chief financial officer of theAudience, one of the world's largest multi-channel publishers of social media and digital content.

"Having worked closely with Mike on the development of Spiral, I'm confident his experience in creative media and consumer products will be a valuable addition to our board," said Spiral Toys' CEO, Mark Meyers. "We anticipate that Mike will play an important role as we look to expand our physical product and digital content offerings now that our first mobile-connected product, CloudPets, has begun to sell at major retailers nationwide."

Drath previously worked as a strategic and financial advisor for various media clients. Prior, he served as head of finance at Disney Mobile, as well as director of strategy and business development for Disney Consumer Products. He has also held various leadership and finance positions with Nielsen/The Cambridge Group, Bain & Company, and Deloitte. Drath earned his MBA with High Distinction from the University of Michigan's Ross School of Business, and received Bachelor of Accounting and Bachelor of Commerce degrees from the University of the Witwatersrand, Johannesburg, South Africa.

"On behalf of the entire Spiral Toys organization, I would like to thank Gordon for his valuable service and contributions to the company," added Meyers. "We wish him the very best in his future endeavors."

About Spiral Toys
Spiral Toys (OTCQB: STOY) is a California-based company with a business, founded by a former senior executive of Disney and Sony, focused on developing and marketing products and mobile applications in the mobile-connected space. Spiral's mobile-connected entertainment platform connects physical items to today's top mobile devices through wireless technologies, creating a new kind of interactive user experience.

Spiral offers its products for sale worldwide, and is developing additional applications based on its platform technology for several different verticals within the entertainment industry. Spiral collects revenue on both the physical purchase of goods and the sale of digital content through Apple's App Store and the Google Marketplace. The company also acts as co-developer with major entertainment studios. For more information, visit www.spiraltoys.com.

Forward-Looking Statements
All statements in this press release that are not based on historical fact are "forward-looking statements." The terms "expects", "would", "will", "believes", and similar terms are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Spiral Toys in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Spiral Toys believes are appropriate in the circumstances. Many factors could cause Spiral Toys' actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Spiral Toys that may cause actual results to differ are set forth in Spiral Toys' periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Spiral Toys' forward-looking statements. Spiral Toys has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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