MONTREAL, Aug. 5, 2015 /CNW Telbec/ - EXO U Inc. (TSXV: EXO) ("EXO U" or the "Company"), a software provider that develops cross platform, operating system agnostic software that enables development of highly customizable touch-based user interfaces and experiences today makes the following announcements:
Appointment of Industry Veteran Kevin Pawsey as New Chief Operating Officer
The Company is pleased to announce the appointment of Kevin Pawsey as its new Chief Operating Officer. Mr. Pawsey, a three-time CEO in the education sector and one of the industry's most dynamic and connected executives, brings 20 years of experience to EXO U and a proven history of success in developing sustained business growth internationally in the fields of education, technology, and online learning.
Previously Mr. Pawsey was President at i>clicker, a Macmillan New Ventures company, where he transformed the business into a SAAS model and drove growth in new verticals. Prior to i>clicker, Mr. Pawsey was the CEO at itslearning and RM Education USA, where both companies experienced rapid growth and development under his leadership. During his time at RM PLC, headquartered out of the UK, Mr. Pawsey accelerated revenue from that of a start up to multi-million dollar growth, grew staffing from 6 to over 120, and increased profitability significantly while driving RM's successful international expansion and securing many worldwide OEM customers. In 2011, he was named to MDR's "Leaders to Watch" list, one of the top honors in the education business market.
"Kevin is a key addition to our senior leadership team," said Shan Ahdoot, CEO of EXO U. "His proven track record of success in building early-stage digital education technology businesses and his strong sales and marketing experience will serve us well as we accelerate EXO U's growth."
"I am delighted to join EXO U as Chief Operating Officer at an incredibly exciting time in the business. EXO U's platform addresses many of the issues facing the mobile trend in the global education industry," stated Mr. Pawsey. "Providing a consistent experience across many mobile platforms and devices resonates with districts and colleges since many are saddled with legacy devices and software. EXO U's solution not only mitigates this concern but also lends comfort that future hardware and software investments will integrate seamlessly. The overwhelming positive reaction I witnessed from educators and CIOs who have seen EXO U's demonstration was the deciding factor in joining Shan and the EXO U team; together, I strongly believe we can help our partners provide educators with a great mobile experience."
The strong addition of Mr. Pawsey, with his proven expertise in sales and marketing, customer service, commercial development and operations, comes at a crucial time for EXO U. Following the recent launch of the new EXO U platform in April, the Company has more than sixty pilot requests, and is working to further commercialize its offering and build out its operational and customer support infrastructure.
Kevin will be starting with EXO U in August of 2015 and can then be contacted at firstname.lastname@example.org
The Company has granted a total of 300,000 stock options to certain of its officers under the Company's Stock Option Plan. The options are exercisable at a price of $0.82 per common share of the Company for a period of 10 years following the date of grant. The options shall vest at a rate of 25% after one calendar year following the date of grant, with the balance of 1/36 vesting each month over the subsequent 36 months.
Update on Private Placement
On July 8th, 2015, the Company announced a private placement to be undertaken on a best efforts basis, led by Mackie Research Capital Corporation as sole agent, for up to $5,000,000 of units of the Corporation at a price of $1,000 a unit. The initial expectation for closing the offering was on or about July 29th, 2015. However, due to seasonality and market conditions, closing of the offering is now targeted on or about August 19, 2015.
Shan Ahdoot, the Company's CEO and Hypertechnologie Ciara Inc., the Company's largest shareholder, have indicated that they intend to participate in the Offering for an amount to be determined. The Offering remains subject to TSXV approval.
About EXO U
EXO U's shares trade on the TSX Venture Exchange under the ticker symbol EXO.V. EXO U develops an innovative software platform which 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. It enables true mobility for businesses and educational organizations by solving important mobility issues such as security, privacy, collaboration, and management of application and content. EXO U's technology agnostic framework delivers to end users a safe, reliable, and intuitive smart workspace designed for connecting with people, accessing services, and sharing information and digital content, while requiring minimal infrastructure and optional Internet connectivity. It simplifies management of the entire application lifecycle, freeing the organizations to focus on building engaging apps that work across different operating systems and form factors, thus increasing productivity for developers and reducing total cost of ownership for organizations. By offering an engaging and exceptional user experience on all computing devices, without compromising security or protected information, the EXO U enterprise and education solutions allow organizations to embrace consumerization and enjoy all the benefits of mobile. For more information, visit http://www.exou.com and follow us on Twitter @exo_u.
Disclaimer in Regards to Forward Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking information within the meaning of application securities laws. These forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events and there is no assurance that current opportunities being pursued or discussions with any government authorities will result in any definitive agreements being entered into or that the Company will be able to obtain financing to continue its operations on acceptable terms or at all. Readers are cautioned not to place undue reliance on these forward-looking statements. 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. The forward-looking information contained in this press release represents EXO U's current expectations. EXO U disclaims any intention and assumes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
SOURCE EXO U Inc
For further information: For investor or media inquiries, please contact: Sean Peasgood, Sean@SophicCapital.com, 416.565.2805 ; Doug McCollam, CFO, email@example.com, 514.212.7407