TORONTO, June 15,
2023 /CNW/ - TERAGO Inc. ("TERAGO" or
the "Company") (TSX: TGO)
(www.TERAGO.ca), announced that the nominees listed in
the management information circular for the Company's 2023 Annual
and Special Meeting of Shareholders (the "Meeting") were
each either elected or re-elected as directors of
TERAGO. Following the Meeting, the Company board composition
remained at seven total directors, six of whom are independent.
TERAGO welcomed its newly elected directors, Mr. Daniel Vucinic, Mr. Fred
Hrenchuk, Ms. Tina Pidgeon
and Mr. Jim Watson, to its board of
directors.
DANIEL VUCINIC
Effective June 12, 2023, Mr.
Vucinic was appointed the Chief Executive Officer of TERAGO. With
three decades of experience across senior management roles
throughout the technology sector, Mr. Vucinic brings a wealth of
leadership and operational excellence experience. He most recently
served as Chief Operating Officer of Centrilogic Inc., a global
provider of IT transformation solutions, where he led all
operations functions to support customers' end-to-end cloud and
digital transformation journeys and drove significant enterprise
value creation. Mr. Vucinic also served in several executive roles
at Zayo and Allstream, two global communications companies, where
he also played a pivotal role in driving significant enterprise
value creation through revenue growth and optimization. Prior to
his tenure at Allstream, he held senior leadership positions at
AT&T Canada and Unitel.
Mr. Vucinic is a Professional Engineer and holds a Bachelor of
Applied Science, Engineering from the University of Toronto.
Mr. Vucinic is a Canadian citizen.
FRED HRENCHUK
Mr. Hrenchuk is the founder and currently serves as the
Principal of Citada Capital.
Mr. Hrenchuk is the founder and currently the Principal of
Citada Capital, which serves as an angel investor for small
start-up companies and provides advisory services primarily in
telecommunications since 2016. From 2008 to 2016, Mr. Hrenchuk was
the CEO for Bite Group (Baltics) where he led the successful exit
process on the back of double-digit EBITDA growth. Prior to that
Mr. Hrenchuk was CTO of Vodafone Czech Republic for 8 years.
Mr. Hrenchuk holds a degree in Economics from York University.
Mr. Hrenchuk is a Canadian Citizen.
TINA PIDGEON
Ms. Pidgeon is currently the Principal of Tina Pidgeon
Strategies.
Ms. Pidgeon is a 25-year veteran of the telecom and tech
industry and a recognized leader in telecommunications policy
development and broadband infrastructure deployment. As the
Principal of Tina Pidgeon Strategies, she advises clients on
business transformation, executable advocacy strategies, and
organizational design. Ms. Pidgeon previously spent 17 years with
GCI Communication Corp. (GCI), an Alaska telecommunications company providing
statewide broadband and wireless services. As GCI's General
Counsel, Chief Compliance Officer, and SVP, Governmental Affairs
for a decade, she directed the company's legal, policy, regulatory,
communications, compliance, and risk operations, and applied her
DC-based expertise in broadband deployment, universal service
policy, and wireless and video service matters. During that time,
she served on the company's senior executive team, which guided
significant wireless transactions and major infrastructure
deployments across Alaska, and
managed broadband, wireless, video, and traditional telecom service
businesses. Ms. Pidgeon subsequently served as Special Advisor to
the CEO, and earlier as Vice President of Federal Regulatory
Affairs. Prior to her roles with GCI., Ms. Pidgeon was an associate
with the law firm of Drinker Biddle & Reath LLP (now Faegre
Drinker) in Washington, D.C.,
where she specialized in regulatory policy and compliance in the
telecommunications industry. Ms. Pidgeon also serves as a director
of AP&T (Alaska Power and Tel), chairing the Governance and
Nominating Committee; the American Oncologic Hospital, a
comprehensive cancer center in Philadelphia, and the Fox Chase Cancer Center
Foundation, chairing the Institutional Advancement Committee, and
previously of Nova, an Icelandic mobile wireless and broadband
company.
Ms. Pidgeon is a graduate of the University
of Virginia School of Law and the University of Notre Dame, and her efforts,
experience, and leadership have been recognized by many industry
and professional organizations.
Ms. Pidgeon is an American Citizen.
JIM WATSON
Mr. Watson served as the 56th mayor of the city of Ottawa, Ontario from 2010 to 2022. Prior to
this, Mr. Watson served as Member of Provincial Parliament for the
Ottawa West-Nepean riding and was appointed as Minister of Consumer
and Business Services in 2003. In addition, he became Ontario's first Minister of Health Promotion
in 2005 and Minister of Municipal Affairs in 2007. From 2000-2003,
Mr. Watson served as President and
CEO of the Canadian Tourism Commission, a Federal Crown Corporation
designed to market Canada
domestically and internationally as a tourism destination.
Previously, Mr. Watson also served as an Ottawa city councilor from 1991 to 1997, and
as mayor from 1997 to 2000. Mr. Watson has served on the board or
as honorary chair of several community organizations including the
Riverside Hospital, the National Arts Centre, the Central Canada
Exhibition Association, the Christmas Exchange of Ottawa, and the Forum for Young Canadians. He
also served as chair of the United Way's 2002 campaign. Mr. Watson
is the recipient of several honours and awards for his previous and
continued service to the community, including the Queen's
Diamond Jubilee Medal.
Mr. Watson graduated from Carleton
University with a degree in Journalism.
Mr. Watson is a Canadian Citizen.
"On behalf of the entire TERAGO leadership team, I would like to
welcome Dan Vucinic, Fred Hrenchuk, Tina
Pidgeon and Jim Watson to the
TERAGO board of directors," said Ken
Campbell, Chair of TERAGO's Board. "Each new member
possesses the necessary skills and the relevant experience to help
accelerate TERAGO's mission in becoming one of the first operators
to launch standalone commercial mmWave 5G private networks in
Canada. We look forward to
benefiting from their unique expertise as we execute on our near-
and long-term growth objectives."
The Company also announced that Mr. Richard Brekka, Mr. Gary
Sherlock and Ms. Laurel
Buckner have stepped down from the board of directors after
having each served a ten-year term, a seven-year term and a
five-year term respectively.
Detailed results of the ballot voting for the election of
directors held today on June 15,
2023, as well as the other matters voted on at the virtual
Meeting are as follows:
Brief Description of
Matter Voted Upon
|
Outcome
of Vote
|
For
|
Against
|
1)
In respect of fixing of the number of
directors of the Company at seven (7);
|
Approved
|
10,050,167
(99.37%)
|
63,700
(0.63%)
|
2)
In respect of the election of directors
to hold office until the close of the next annual meeting of
Shareholders or until their successors are elected or
appointed:
|
|
For
|
Withheld
|
Kenneth
Campbell
|
Approved
|
8,612,345
(97.74%)
|
199,466
(2.26%)
|
Daniel
Vucinic
|
Approved
|
8,803,036
(99.90%)
|
8,775
(0.10%)
|
Tina
Pidgeon
|
Approved
|
8,803,045
(99.90%)
|
8,776
(0.10%)
|
Jim Watson
|
Approved
|
8,612,046
(97.73%)
|
199,765
(2.27%)
|
Fred
Hrenchuk
|
Approved
|
8,803,046
(99.90%)
|
8,765
(0.10%)
|
Martin
Pinnes
|
Approved
|
8,449,965
(95.89%)
|
361,846
(4.11%)
|
Pietro
Cordova
|
Approved
|
8,799,035
(99.86%)
|
12,776
(0.14%)
|
3)
In respect of the re-appointment of KPMG
LLP, Chartered Accountants as auditors of the Company to hold
office until the next annual meeting of Shareholders and
authorizing the directors to fix their remuneration.
|
Approved
|
10,107,367
(99.94%)
|
6,500
(0.06%)
|
|
|
For
|
Against
|
4)
In respect of the resolution for approval
to increase the number of shares reserved for issuance under the
Directors Share Compensation Program by 300,000 common
shares.
|
Approved
|
8,429,209
(95.66%)
|
382,602
(4.34%)
|
A report of voting results for each resolution presented at the
Meeting prepared in accordance with National Instrument 51-102 –
Continuous Disclosure Obligations has been filed on
www.sedar.com.
About TERAGO
TERAGO provides wireless connectivity and private 5G wireless
networking services to businesses operating across Canada. The Company holds 2120 MHz of
exclusive spectrum licenses in the 24 GHz and 38 GHz spectrum
bands, which it utilizes to provide secure and reliable enterprise
grade networking and connectivity services. TERAGO serves over
1,800 Canadian and Global businesses operating in major markets
across Canada, including
Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless
services since 1999. For more information about TERAGO, please
visit www.terago.ca.
Forward-Looking Statements
This news release includes certain forward-looking statements.
By their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond TERAGO's control.
Forward-looking statements may include but are not limited to
statements regarding the further developing our 5G Fixed Wireless
Access program, consistently executing across all fronts of the
business, success in providing Canadian enterprises with managed
services and the 5G fixed wireless trials being conducted by the
Company. All such statements constitute "forward-looking
information" as defined under, applicable Canadian securities laws.
Any statements contained herein that are not statements of
historical facts constitute forward-looking information. The
forward-looking statements reflect the Company's views with respect
to future events and is subject to risks, uncertainties and
assumptions, including those risks set forth in the "Risk Factors"
sections in the annual MD&A of the Company for the year ended
December 31, 2022 available on
www.sedar.com under the Company's corporate profile. Factors that
could cause actual results or events to differ materially include
the inability to consistently achieve sales growth across all lines
of TERAGO's business including managed services, inability to
complete successful 5G technical trials, the impacts and
restrictions caused by the COVID-19 pandemic are prolonged which
may further delay customer trials and/or cause a negative impact on
future financial results of the Company, TERAGO's Pandemic Response
Plan may not mitigate all impacts of COVID-19, the results of the
5G trials not being satisfactory to TERAGO or any of its technology
partners, regulatory requirements may delay or inhibit the trial,
the economic viability of any potential services that may result
from the trial, the ability for TERAGO to further finance and
support any new market opportunities that may present itself, and
industry competitors who may have superior technology or are
quicker to take advantage of 5G technology. Accordingly, readers
should not place undue reliance on forward-looking statements as
several factors could cause actual future results, conditions,
actions or events to differ materially from the targets,
expectations, estimates or intentions expressed with the
forward-looking statements. Except as may be required by applicable
Canadian securities laws, TERAGO does not intend, and disclaims any
obligation, to update or revise any forward-looking statements
whether in words, oral or written as a result of new information,
future events or otherwise.
SOURCE TeraGo Inc.