TORONTO, ON – March 4, 2019 – BSM Technologies Inc. (the “Company” or “BSM”) (TSX: GPS), a leading provider of Internet of Things (IoT) enabled telematics and asset management solutions, today announced the appointment of accomplished software executive Michael Morrissey as the Chief Operating Officer of the Company, effective March 18, 2019.

“Adding Mike to our executive leadership team provides significant additional experience and expertise to BSM,” said Mr. Louis De Jong, President and CEO of BSM. “Mike’s experience in leading the delivery of new software products and rationalizing legacy software platforms, coupled with his track record of successful cloud migrations, will be a great benefit to our team as we continue the development of the BSM illuminate software platform.”

“I am excited to join BSM and work closely with Louis and the senior management team at BSM,” said Michael Morrissey. “The BSM illuminate software platform and BSM’s expanded partnership with Geotab provides exciting growth opportunities for the company.”

Morrissey has a long history of leading both large and medium sized software delivery teams. Prior to joining BSM, he served as Senior-Vice-President of Research and Development at Nuance Communications Inc., a multinational computer software technology company which provided speech recognition and artificial intelligence. Prior to Nuance Communications, Morrissey held technology leadership roles for cloud security, mobile infrastructure and logistics software including, Chief Technology Officer at PerspecSys Inc., Vice President, Cloud and Platform Services at BlackBerry Ltd., and Vice-President, Program Management at Descartes Systems Group.

In addition to the appointment of Mr. Morrissey, the Company is also announcing the departure of Mr. Douglas Swanson, Chief Technology Officer of the Company, effective March 15, 2019.

“BSM is committed to continuing its development of the BSM illuminate software platform,” said Mr. Louis De Jong, President and CEO of BSM. “We have a strong technology team and we are well-positioned to continue our positive momentum. I want to thank Doug for his contributions to BSM over the past two years and wish him the best in his future endeavors.”

 

About BSM Technologies:

With more than 20 years of experience, BSM Technologies Inc., through its subsidiaries and affiliates, is a leading provider of Internet of Things (IoT) enabled telematics and asset management solutions. Focused on the Government, Service, Rail and Construction markets, BSM provides the technology, tools and services required to connect, analyze and optimize fleets, equipment and people – empowering data-driven operational decision-making. BSM illuminate, BSM’s software platform, enables companies to leverage data insights, analytics and optimization tools for competitive advantage.

For more information, please visit http://www.bsmtechnologies.com. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.

 

Cautionary Note Regarding Forward-Looking Statements:

This news release includes certain forward-looking statements or information under applicable Canadian, U.S. and other securities laws. Such forward-looking information and statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and any other similar expressions. Such forward-looking information includes but is not limited to, statements with respect to BSM illuminate software platform, the Company’s software consolidation and expanded Geotab partnership enabling BSM to focus its development efforts on further advancing our analytics and optimization software products. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business and include, but are not limited to, developing the BSM illuminate software platform. Management believes that these assumptions are reasonable; however, some risks include, but are not limited to, failing to efficiently continue developing BSM illuminate. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading “Risk Factors” in BSM’s most recent annual information form available at www.sedar.com. Forward-looking statements or information are based on estimates and opinions of management at the date the statements are made. Except as required by applicable law, BSM does not undertake any obligation to update forward-looking information. Readers should not place undue reliance on forward-looking information.

 

For inquiries, please contact:

Louis De Jong Craig MacPhail
President & Chief Executive Officer Investor Relations
BSM Technologies Inc. NATIONAL Equicom
(416) 675-1201 (416) 586-1938
louis.dejong@bsmtechnologies.com cmacphail@national.ca