TORONTO, June 1, 2023
/CNW/ - Pluribus Technologies Corp. (TSXV: PLRB)
("Pluribus" or the "Company"), a growing acquirer of
small, profitable technology companies, is pleased to announce the
expansion of its management team with the appointment of
Nancy Fahy as Chief Financial
Officer. The Company's former CFO Mr. Simon
Giannakis will transition his role to oversee the Company's
M&A function.
Nancy Fahy will join the
executive leadership team of Pluribus, reporting to Richard
Adair, CEO. She is a seasoned finance professional with over
15 years of leadership experience at Ernst & Young LLP (EY).
Most recently, Nancy was an Associate Partner in M&A, leading
financial due diligence engagements for large private equity
clients across several sectors, including technology, aviation and
consumer products. She has extensive M&A experience across
North America and Europe, having worked in EY's London UK office for five years. Nancy began
her career in the EY audit practice in Toronto. She holds a Master of Management and
Professional Accounting from the University of
Toronto and a B.A.H from Queen's University.
"I'm pleased to welcome Nancy to the Pluribus team," said
Richard Adair, CEO of Pluribus
Technologies. "Her extensive experience in both the audit and
M&A groups at EY and her track record growing and leading high
performing teams will complement our existing dynamic executive
leadership team."
"I would also like to thank Simon
Giannakis for his leadership and dedication as CFO in
supporting Pluribus through the go public process, bank refinancing
and a period of high growth over the past two years as we scaled
the business. This change enables Simon to utilize his extensive
experience from his tenure at Enghouse Systems to focus on
developing and executing a robust strategic capital deployment plan
which maximizes flexibility and creativity in this uncertain
macroeconomic environment and prepares the Company for its next
phase of accelerated growth from M&A."
Stock Option Grant
Pluribus has granted incentive stock options ("Options") to
purchase an aggregate of 150,000 common shares (the "Common
Shares") of the Company to Nancy
Fahy pursuant to the Company's stock option plan (the
"Option Grant"). The Options are exercisable until June 1, 2028 at a price of $1.14 per Common Share, and vest in accordance
with the following schedule: 1/3 on December
1, 2023, 1/3 on June 1, 2024
and 1/3 on June 1, 2025.
The issuance of the Options, as contemplated in this news
release, is subject to the terms of the Company's stock option plan
and TSXV approval.
About Pluribus Technologies Corp.
Pluribus is a technology company that is a value-based acquirer
of small, profitable business-to-business technology companies in a
range of verticals and industries. Pluribus provides its
acquisitions access to experienced sales and marketing resources,
strategic partnership opportunities, a diverse portfolio of
customers in different geographical markets and enabling
technologies to create new revenue streams and provide the
opportunity for these companies to grow in their respective
markets. For more information, please visit:
https://www.pluribustechnologies.com/.
Forward-Looking Information
Certain information in this press release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking information in this press release
includes, but is not limited to, statements with respect to the
business plans of the Company, including the successful completion
and pace of future acquisitions, the Company management's
expectation on the growth, profitability and performance of its
current and future acquisitions, the Company's ability to continue
acquiring business-to-business technology companies at reasonable
prices and the Company's ability to grow its portfolio companies
into significant organizations. Forward-looking statements are
often identified by terms such as "may", "should", "anticipate",
"expect", "potential", "believe", "intend" or negatives of these
terms and similar expressions.
Forward-looking statements are based on certain assumptions,
including the Company's ability to complete acquisitions on
favourable terms; the Company's ability to manage a complex
portfolio of companies effectively; the Company's
ability to scale its management team to support a rapid pace of
growth; the Company's ability to raise sufficient financing to
continue the pace of its acquisition strategy; the Company's
ability to maintain its rapid pace of growth. Other assumptions
include industry trends, the availability of growth opportunities,
and general business, economic, competitive, political, regulatory
and social uncertainties will not prevent the Company from
conducting its business. While the Company considers these
assumptions to be reasonable based on information currently
available, they are inherently subject to significant business,
economic and competitive uncertainties and contingencies and they
may prove to be incorrect. Forward-looking information speaks only
to such assumptions as of the date of this release.
Forward-looking statements also necessarily involve known and
unknown risks, including without limitation, risks associated with
general economic conditions, including the COVID-19 pandemic,
adverse industry events, marketing costs, loss of markets, future
legislative and regulatory developments, the inability to access
sufficient capital on favourable terms, the Company's limited
operating history; ability to complete favourable acquisitions; the
technology industry in Canada and
internationally, income tax and regulatory matters, the ability of
the Company to execute its business strategies, including the
ability manage a complex portfolio of companies effectively,
competition, currency and interest rate fluctuations, and other
risks.
Readers are cautioned that the foregoing is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ from those anticipated.
Forward-looking statements are not guarantees of future
performance. The purpose of forward-looking information is to
provide the reader with a description of management's expectations,
and such forward-looking information may not be appropriate for any
other purpose. Except as required by law, the Company disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
Contact:
Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383
SOURCE Pluribus Technologies Corp.