Evelyn Bailey and Peter Green to join Turnium’s Board of Directors; Company also engages Venture North investor relations group pending regulatory approval
Vancouver, British Columbia–(Newsfile Corp. – June 27, 2022) – Turnium Technology Group Inc. (TSXV: TTGI), an industry leader in cloud-native software-defined wide area networking solutions (SD-WAN), is pleased to announce the appointments of Evelyn Bailey and Peter Green to its Board of Directors.
Evelyn Bailey, ICD.D, has over 30 years of experience at IBM. She has supported the BC Government (Public Sector), Bell Canada (Telcomm), and recently Scotiabank (Financial), driving double-digit growth through transformational IT. By aligning financial objectives with talent and collaboration with partners, Ms. Bailey has led complex turnarounds for IBM’s multi-billion-dollar Storage & Systems (Mainframe, UNIX/AIX) and Data & AI divisions. Outcomes included balanced improvement in the P&L, double-digit revenue growth, and increased client satisfaction. Ms. Bailey is Global Managing Partner, Scotiabank – Kyndryl (an IBM spin-off). Her prior roles include Global Managing Director, Scotiabank – IBM, Senior Vice President, Data & AI – IBM, and Senior Vice President, Systems Technology – IBM. Ms. Bailey completed her ICD.D in March 2020.
Peter Green is an accomplished telecommunications executive and sales leader with a career spanning over three decades in the UK and Canada. Previously, Peter served as President of TELUS Business Solutions where he oversaw an organization with over 25,000 medium and large enterprise customers generating $1.4 billion in revenue annually. Peter initiated and led the negotiation of a $1 billion contract with the province of British Columbia, representing the then-largest commercial transaction in TELUS history.
“We are pleased that both Evelyn and Peter have accepted our invitation to join our Board of Directors,” said Johan Arnet, Founder, and CEO of Turnium Technology Group Inc. “Both bring longstanding experience in growing technology companies, and we believe their expertise and counsel will be invaluable for the company.”
Evelyn Bailey and Peter Green join Turnium’s Board of Directors currently comprised of Johan Arnet – CEO & Director, Derek Spratt – Chair of the Board, Jim Lovie – Director, and Ralph Garcea – Director.
Investor Relations Engagement
Turnium also announces that it has retained Venture North Capital Inc. (“Venture North”) for strategic marketing, investor relations, and capital markets communications services. Venture North will arrange and attend meetings with professional investors, maintain ongoing contact and broaden relationships with the professional investment community on Turnium’s behalf.
The Company and Venture North have entered into a consulting agreement for an initial term of six months, after which it will continue on a monthly basis until terminated by either party. In consideration for its services, the Company issued 68,000 options to purchase common shares in the capital of the Company (“Common Shares”) with an exercise price of $0.56. Under the agreement, the Company will pay Venture North CAD $7,500.00 per month (plus HST), and issue a further 200,000 options to purchase Common Shares at a minimum exercise price of $0.56. This engagement is subject to TSX-V approval. Venture North and its executives collectively own 235,833 shares of the Company.
About Turnium Technology Group Inc.
Turnium Technology Group, Inc. delivers its software-defined wide area networking (SD-WAN) solution as a white label, containerized, disaggregated software platform that channel partners host, manage, brand, and price and as a managed cloud-native service. Turnium SD-WAN is available through a channel partner program designed for Telecommunications Service Providers, Internet and Managed Service Providers, System Integrators, and Value-Added Resellers.
For more information, contact [email protected] or follow us on Twitter @turnium.
SD-WAN is revolutionizing the networking and telecommunications industry by abstracting secure, high-speed networking and network control from underlying physical circuits. SD-WAN frees enterprises, small-medium businesses, cloud and managed services providers from the business and cost constraints imposed by traditional telecommunications companies.
For further information please contact:
Bill Mitoulas, Investor Relations
E: [email protected]
T: +1 416-479-9547
Media inquiries, please email [email protected]
Sales inquiries, please email [email protected]
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would” , “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information in this press release may include, without limitation, statements with respect to the completion of the Qualifying Transaction, the listing of the Resulting Issuer Shares and the terms, conditions and completion of the Qualifying Transaction. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Qualifying Transaction and associated transactions, that the ultimate terms of the Qualifying Transaction and associated transactions will differ materially from those that are currently contemplated, and that the Qualifying Transaction and associated transactions will not be successfully complete for any reason (including failure to obtain the required approvals or clearances from regulatory authorities). The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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