TIO Networks Appoints Richard Cheung as Chief Financial Officer

VANCOUVER, May 21, 2014 /CNW/ - TIO Networks Corp. (TSX-V: TNC) ("TIO", "TIO Networks" or the "Company"), is pleased to announce the appointment of Richard Cheung as Chief Financial Officer of the Company.

"We are pleased to welcome Richard Cheung to the TIO family," said Hamed Shahbazi, CEO of TIO Networks. "Richard has a tremendous background in financial management, corporate development and public markets in high growth technology companies, and we look forward to Richard's contribution as TIO executes on our next stage of growth."

Mr. Cheung has held executive-level finance and business development positions with leading technology companies, both public and private, during the past 18 years.  Most recently, Mr. Cheung was VP of Business Development at Fusemail, a subsidiary of j2 Global, where he led their finance, M&A, and tax planning efforts and executed several successful acquisitions. Previously, he was CFO of The Electric Mail Company, a TSX-V listed technology company. At Electric Mail, he was responsible for all aspects of the company's financial management and ultimately led the successful sale of the company to j2 Global. He is a Chartered Accountant and holds a Bachelor of Commerce degree from UBC.

"I am looking forward to working with the TIO Networks team to drive future organic growth in the Company's core bill payment business and growth through complementary merger and acquisition opportunities," said Mr. Cheung. 

In addition to overseeing the Company's finance and administration functions, including securities compliance and financial planning, Mr. Cheung will play a significant role in the Company's overall strategic direction.

The Company's Acting CFO, Derek Lai, will be working with the Company to ensure an orderly transition, prior to leaving TIO to pursue new opportunities. 

"The team and myself would like to thank Derek for his years of dedicated service at TIO, and we wish him all the best in his future endeavours," said Hamed Shahbazi, CEO.

To learn more, visit: www.tionetworks.com

About TIO Networks

TIO Networks is a cloud-based bill payment processor serving the largest telecom, wireless, cable and utility bill issuers in North America.  With more than 65,000 endpoints, TIO symbolizes fast, convenient and secure bill payment. Visit: www.TIOnetworks.com. Join the conversation: www.twitter.com/tionetworks or Like us:  http://www.facebook.com/tionetworks.

The TSX Venture Exchange has not reviewed this news release.

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.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from TIO's expectations and projections.

SOURCE: TIO Networks Corp.

For further information: Contacts: John Lewis, Business Development - TIO Networks, 416-523-7086, jrlewis@tionetworks.com; Nora Retana, Media Relations - TIO Networks, 619 -549-3211, nora.retana@tionetworks.com

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