EXO U Announces Results from Annual and Special Meeting of Shareholders and Provides Update on Previously Announced Private Placement

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MONTREAL, Dec. 24, 2015 /CNW Telbec/ - EXO U Inc. ("EXO U" or the "Corporation") (TSXV: EXO) today announced the results of its Annual and Special Meeting of Shareholders held in Montreal, Quebec (the "Meeting").

At the Meeting, shareholders of the Corporation (the "Shareholders") voted in favour of all items of business on the agenda. In particular, all nominees for election to the board of directors of the Corporation (the "Board") were elected by the Shareholders including Mr. Kevin Pawsey, the Corporation's Chief Executive Officer, and Messrs. Sean Maniaci and Matthew Cooper, who were nominated for the first time. Messrs. Robert Fortier and Arthur Gerald Howarth chose not to stand for re-election to the Board for the upcoming year and the Corporation would like to thank them for their service. The full biographies of Messrs. Maniaci and Cooper can be found in the Corporation's management information circular (the "Circular") for the Meeting on SEDAR at www.sedar.com.

In addition, at the Meeting the Shareholders also approved the amendment to the Corporation's stock option plan (the "Plan") to remove the reference to a fixed maximum number of securities issuable under the Plan. The Plan will now be a 10% rolling plan. The amendment to the Plan is subject to final approval from the TSX Venture Exchange. Full details of the amendment, as well as the full text of the ordinary resolution approving the amendment to the Plan, are included in the Circular.

Update on Private Placement

The Corporation also announced today that the closing of the second tranche of the private placement offering of units consisting of common shares and common share purchase warrants of the Corporation is now expected to occur in the Corporation's fourth quarter. The private placement continues to remain subject to the final approval of the TSX Venture Exchange.

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, including but not limited to statements with respect to the completion of the private placement, are forward-looking statements 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. 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 if required by applicable securities laws.

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.

For more information please visit www.exou.com

SOURCE EXO U Inc

Mr. Doug McCollam, Chief Financial Officer, EXO U Inc., Phone: [phone], E-mail: [email protected]