MONTREAL, June 27, 2014 /CNW Telbec/ - EXO U (TSXV: EXO), a provider of an innovative software suite that enables businesses and educational institutions to securely manage their mobile workforces and students by delivering ubiquitous applications spanning desktop and mobile computing environments, today announced it has appointed Sophic Capital Inc. (Sophic Capital) as its investor relations firm. Sophic is a comprehensive capital markets advisory firm for companies in the technology sector.
"We are delighted to have Sean on the team," said Shan Ahdoot, CEO of EXO U. "He has carefully reviewed the Company and its technology before accepting this engagement and he is well positioned to communicate the Company's technology and vision to the investment community. The Company is moving into a critical growth phase and Sean's proven capital market success adds a very welcome element to our investor messaging and outreach."
"EXO U has a unique software solution that empowers IT professionals across both the education and enterprise markets to focus on the user experience rather than on which devices to support, said Sean Peasgood, CEO of Sophic Capital. I am excited to be joining EXO U to increase visibility in the capital markets and implement a strategy to increase shareholder value.
Pursuant to the investor relations services agreement between the Company and Sophic (the "Agreement"), Sophic will receive monthly fees of $6,000. In addition, the Company has granted to Sophic options to purchase up to 100,000 common shares of the Company (the "Options"), exercisable at a price of $1.55 per share and will vest over a four year period in line with the Company's option plan. The Agreement has an initial term of six months, which can be extended upon the written consent of both the Company and Sophic.
The appointment of Sophic, and the grant of Options, is subject to the approval of the TSX Venture Exchange.
About EXO U
EXO U, with offices in Montreal, Quebec, and Palo Alto, CA, enables true mobility for businesses and government organizations by securely creating compelling ubiquitous applications that delight end-users. Our software simplifies development and management of the entire application lifecycle, freeing clients to focus on building engaging applications that work across different operating systems and form factors, thus increasing productivity for developers and reducing total cost of ownership for enterprises. The agnostic technology framework of EXO U offers a unified collaborative workspace to users with a unique, safe and attractive experience for current and future digital content and applications. For more information, visit http://www.exou.com and follow us on Twitter http://twitter.com/exo_u.
Certain statements made in this press release that are not historical facts are forward-looking and 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. As a result, 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 dated September 29, 2013 available under the Corporation'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 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 of this release.
SOURCE: EXO U Inc
For further information: Sean Peasgood, Investor Relations, t: 416.565.2805, e: [email protected]