Sylogist Announces Director Nominations for Upcoming AGM

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CALGARY, AB, July 14, 2020 /CNW/ - Sylogist Ltd. (TSXV: SYZ) ("Sylogist" or the "Company"), is pleased to announce that its Special and Annual General Meeting, which had been scheduled and subsequently adjourned due to Covid-19 concerns, will be held at its offices on Wednesday, August 12, 2020 at 10:00 a.m.Calgary time.    

The Board of Directors of the Company has nominated incumbents Barry Foster, Taylor Gray, Jim Wilson and Dave Elder, and two new nominees, Lester Fernandes and Craig O'Neill (profiles below), for election as directors to serve for the ensuing year. 

Ron Cherkas and Fraser Elliott are stepping down from the Board, after many years of dedicated and valuable service. Not only have Ron and Fraser offered their varied experiences, as well as their time and sage counsel to our Board, they have done so always as major shareholders of the Company, which is a true testament to their commitment to Sylogist's remarkable success. Ron and Fraser joined the Sylogist board at the embryonic stage of the business and oversaw and assisted in developing the business into what it is today. During their stewardship, Sylogist developed today's platform for future dynamic growth, while increasing shareholder value by more than 40 fold. "On behalf of our stakeholders, our staff and the Board of Directors, I want to thank Ron and Fraser for their guidance and commitment to our success and their continuing friendship. We all appreciate it very much" stated Jim Wilson, CEO.

Sylogist is now positioning its highly profitable platform to embrace leveraged growth within the public and quasi-public markets we serve. Mr. Wilson continued "to support our future plans, we are pleased to welcome two new independent director nominees, each with a wealth of experience and success in rapidly growing software-as-a-service businesses."   

Lester Fernandes is the President and CEO of Segovia Capital Ltd., a family investment company he has operated since 2018. Segovia invests primarily in early stage technology and software companies, lending Mr. Fernandes' experience and mentorship to entrepreneurs.  Prior thereto, he was a Co-Founder and CFO of Pivotal Payments Ltd., a financial technology company that specializes in payment processing, a position he held since 2001.  Mr. Fernandes spent 15 years at BMO Nesbitt Burns, where he served as Managing Director, Corporate and Investment Banking, specializing in telecom and wireless structured financings. He serves on a number of technology company and charitable boards.

Craig O'Neill is the CEO of VersaPay Corp., a financial technology company that specializes in accounts receivable software, which office he has held since 2013.  Mr. O'Neill graduated from the University of Toronto with a BSc in Computer Sciences in 1986 and held senior executive positions in a number of technology companies prior to joining VersaPay.

The new nominees for election to the Board of Directors will be subject to the approval of the TSX Venture Exchange.

About Sylogist

Sylogist is a technology innovation company that, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of Public Sector customers.  We are an industry-leading publisher of mission-critical software products that satisfy the unique and sophisticated functionality requirements of Public Sector entities, including nonprofit organizations, educational institutions and government agencies, as well as public compliance driven and funded businesses. Our Company delivers highly scalable, multi-language, multi-currency software solutions, which serve the needs of an international clientele.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.

Forward-looking Statements

Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature.  It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to the upcoming meeting of shareholders of the Company and the Company embracing leveraged growth. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include the approval of the new nominees by the TSX Venture Exchange and the Company's ability to attract and retain customers. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

- Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release-

SOURCE Sylogist Ltd.