BSM Technologies Announces Resignation of Chief Technology Officer

TORONTO, Nov. 15, 2016 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX: GPS), a leading provider of remote monitoring, fleet management, and fleet diagnostics, today announced that Mr. Alban Hoxha, Chief Technology Officer of the Company, will be leaving the organization to pursue other opportunities, effective January 20, 2017. The Company has commenced a search for his replacement.

"On behalf of the management team, I want to thank Alban for his contributions to BSM and wish him success in his future endeavours," said Aly Rahemtulla, President and Chief Executive Officer of BSM. "Our R&D team continues to work diligently to integrate our technology and build-out a unified platform. With the recent addition of Mobi Corp., we added even greater capabilities to our customer offering, and believe that the strength of our broader R&D team will drive our technology initiatives and ensure that integration remains on schedule as we transition to new technology leadership."

About BSM Technologies Inc. (bsmwireless.com)

BSM Technologies Inc., through its subsidiaries, is a global top 20 commercial fleet telematics provider for automatic vehicle location (AVL) solutions that improve efficiency, accountability and reduce costs for fleet operators. BSM's end-to-end solutions automate record keeping and regulatory compliance, reduce fuel burn and idling, mitigate risk, and keep drivers safe. BSM provides solutions for commercial and government units who manage and operate diverse assets and large fleets that utilize its integrated fleet tracking, fleet maintenance, and intelligent business engine which provides real time, web‐based tracking of mobile and fixed assets.

For more information, please visit http://www.bsmwireless.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. Such forward-looking information includes but is not limited to, statements with respect to the Company's ability to continue technology initiatives under new technology leadership, the Company's ability to continue its integration schedule and the Company's ability to efficiently transition to a new technology leader. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business and include, but are not limited to, efficiently and successfully replacing Mr. Hoxha with a new chief technology officer. Management believes that these assumptions are reasonable; however, some risks include, but are not limited to, the failure to efficiently or successfully hire a new chief technology officer to continue our technology initiatives and integration schedule. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risk Factors" in BSM's annual information form for the year ended December 31, 2015 available at www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by applicable law, BSM does not undertake any obligation to update forward-looking information. Readers should not place undue reliance on forward-looking information.

SOURCE BSM Technologies Inc.

For further information: Aly Rahemtulla, President & CEO, BSM Technologies Inc., (416) 675-1201, aly.rahemtulla@bsmtechnologies.com; Conrad Seguin, Investor Relations, NATIONAL Equicom, (416) 586-1951, cseguin@national.ca


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