Ackroo strengthens Board of Directors with seasoned capital markets and M&A expert
OTTAWA, Dec. 17, 2018 (GLOBE NEWSWIRE) — Ackroo Inc. (TSX-V: AKR), (OTC: AKRFF), a gift card, loyalty marketing technology and services provider, announces the appointment of Jason Donville as a member of the Board of Directors.
Jason is the President and CEO of Donville Kent Asset Management (DKAM), a highly specialized asset management firm that manages investments on behalf of individual investors as well as select institutions. Over the course of his career, Jason has enjoyed considerable success investing in Software-as-a-service (SAAS) companies such as Ackroo. These investments include other successful Canadian software companies such as Constellation Software, TIO Networks, Enghouse, and Open Text. Jason has won numerous awards as both an analyst and Hedge Fund Manager in Asia and Canada.
“We are thrilled to welcome Jason to the Board of Directors,” said Steve Levely, Chief Executive Officer at Ackroo. “We have been in search of a capital markets expert to join our board for some time and to find someone who not only has proven ability to guide us in that capacity but also has a strong understanding of strategic acquisition opportunities is a big win for the Company and for our investors.”
Commenting on his decision to join the Ackroo Board, Donville stated, “I have been extremely impressed with Steve Levely and the turnaround at Ackroo over the past few years. With the Company now consistently generating positive cash flow, I expect that Steve and his team will continue to deliver positive results for shareholders and I look forward to working with Steve and his team to make that happen.”
In connection with the appointment of Mr. Donville, Ackroo also announces that it will grant options to purchase 350,000 common shares to directors and officers of the Company at a price of $0.10 for a period of 3 years. The option grant remains subject to the approval of the TSX Venture Exchange.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
| Steve Levely Chief Executive Officer | Ackroo Tel: 613-599-2396 x730 Email: slevely@ackroo.com |
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
These forecasts and forward-looking statements are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company’s ability to raise enough capital to support the company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.