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Martello Announces Departure of Chief Financial Officer

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

OTTAWA, ON, Dec. 1, 2021 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a leading developer of enterprise digital experience monitoring ("DEM") solutions, today announced the departure of Chief Financial Officer Erin Crowe, effective February 1, 2022. Ms. Crowe will be returning to a role in the professional sports industry.

Martello Technologies Group Logo (CNW Group/Martello Technologies Group Inc.)
Martello Technologies Group Logo (CNW Group/Martello Technologies Group Inc.)

Ms. Crowe joined Martello in May 2018 as the Company's Chief Financial Officer, and spearheaded the reverse acquisition transaction which resulted in Martello's listing on the TSX Venture Exchange (the "TSXV"). Ms. Crowe led several complex transactions in her tenure at Martello, including two acquisitions, and several financings.

"On behalf of the Martello team and the Board of Directors, I'd like to thank Erin for her considerable contributions to the Company", said John Proctor, President and CEO of Martello. "Erin was instrumental in leading Martello's most critical transactions, including our public listing on the TSXV, and in building a strong finance team. We wish her every success in the future."

Ms. Crowe will remain with Martello until February 1, 2022 to assist with an orderly transition, and will then act as a senior advisor for an additional six months, until August 1, 2022. The Company has commenced an executive search for a new Chief Financial Officer and expects to also engage an external experienced Chief Financial Officer to aid with the transition.

About Martello Technologies Group

Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions focused on the Microsoft market. The company's products provide actionable insight on the performance and user experience of cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end user experience monitoring and optimization. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region. Learn more at http://www.martellotech.com

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 news release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including the date that Ms. Crowe will remain with the Company; the term of Ms. Crowe's advisory role; and the expectation to engage an experienced Chief Financial Officer to aid with the transition.

Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:

  • Continued volatility in the capital or credit markets and the uncertainty of additional financing.

  • Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.

  • Changes in customer demand.

  • Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.

  • Delayed purchase timelines and disruptions to customer budgets, as well as Martello's ability to maintain business continuity as a result of COVID-19.

  • and other risks disclosed in the Company's filings with Canadian Securities Regulators, including the Company's annual information form for the year ended March 31, 2020 dated December 24, 2020, which is available on the Company's profile on SEDAR at www.sedar.com.

Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Martello Technologies Group Inc.

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