EXO U Announces Changes in Senior Management

MONTREAL, June 21, 2016 /CNW Telbec/ - EXO U Inc. ("EXO U" or the "Corporation") (TSX Venture: EXO) today announced that Chief Executive Officer, Kevin Pawsey, has resigned as Chief Executive Officer of the Corporation effective July 12, 2016 in order to spend more time with his family. Jim Kirchner, currently Senior Vice President of Business Development of EXO U, will succeed Mr. Pawsey as Chief Executive Officer upon Mr. Pawsey's departure. Mr. Pawsey will remain a director of the Corporation.

Mr. Pawsey, who joined the Corporation in August, 2015 as Chief Operating Officer, was promoted to Chief Executive Officer in October, 2015. In his time with EXO U, Mr. Pawsey led the Corporation in bringing Ormi and Ormiboard to market, hiring an exceptional management team and setting the stage for the Corporation's future success.

"I believe we have come a long way in the last year with the launch of Ormi in January, with the recently announced Ormiboard at Infocomm2016 and with Ormi U (our higher Education offering) nearing completion," said Mr. Pawsey. "I will continue to deal directly with Tyton Partners in accomplishing the objectives set out in our recently announced strategic agreement and will attend ITSE on behalf of the Corporation later this month to continue driving market awareness and demand for EXO U's products with teachers. Since joining EXO U, Jim has been instrumental in formulating and refining our strategy based on his experience taking EXO U to market. Jim is someone who I have consulted frequently during the last 10 years due to his business acumen and extensive understanding of the market and I look forward to continuing to work with him as a member of the Board".

"On behalf of the Board of Directors, I would like to thank Kevin for his dedication and accomplishments in his leadership positions at EXO U," said Shan Ahdoot, President and Chairman of the Board of the Corporation. "We are fortunate that Kevin will continue on as a member of the Board where his keen insights and experience in the industry will greatly aid the Corporation in its future success. The Board also congratulates Jim on his appointment and looks forward to working with him in his new role."

Mr. Kirchner is a senior executive with over 20 years of experience and a proven history of success in the education technology sector. Prior to joining EXO U in October 2016, Mr. Kirchner was Senior Vice President at Amplify, Inc., an education technology company and subsidiary of News Corp, where he led a team growing Amplify's revenues to over US$80 million. Before joining Amplify, Mr. Kirchner was a founder and CEO of LearningStation, a leading formative assessment SaaS solution that had major customers including the states of Arizona, Kansas and several large districts in the US prior to being sold.

On commenting on his new role at EXO U Mr. Kirchner said, "I am proud of the work started with (Kevin) Mr. Pawsey and look forward to continuing the efforts he initiated. I am honored to be selected and excited to lead EXO U into the future." 

About EXO U

EXO U's shares trade on the TSX Venture Exchange under the ticker symbol "EXO". EXO U develops an innovative software platform that enables businesses and educational institutions to securely mobilize and manage their mobile workforce and students by delivering engaging experiences spanning desktop and mobile applications. At the core of EXO U's platform is the smart and agnostic EXO engine that unifies multiple software platforms, allowing devices to interact and communicate seamlessly together. For more information, visit EXOU.com or follow us on Twitter @exo_u.

Cautionary Note Regarding Forward-Looking Information

Certain statements included herein, including those that express management's expectations or estimates of EXO U's future performance or future events, constitute "forward-looking information" within the meaning of applicable securities laws. Such forward-looking information and statements are often, but not always, identified by the use of words such as ""plans", "expects", "estimates", "intends", "anticipates", or "believes", or variations of such words and phrases (or the negative form thereof) or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic, regulator and competitive uncertainties and contingencies that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. For additional information with respect to certain of these and other assumptions and risk factors, please refer to EXO U's management's discussion and analysis for the year ended March 31, 2015, available under the Company's profile on SEDAR at www.sedar.com. Forward-looking information contained herein is presented as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.

Neither the 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 EXO U Inc

For further information: Investor contact: Kevin Pawsey, Chief Executive Officer, EXO U Inc., (508) 367-1729, kpawsey@exou.com; Shan Ahdoot, President, EXO U Inc., (480) 313-5983, sahdoot@exou.com

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