BTL GROUP LTD. (TSX VENTURE:BTL) (“BTL” or the “Company”) is pleased to announce that Dominic McCann has been appointed to the Board of Directors of the Company and has agreed to join its management team. Mr. McCann was a director of SAS Institute where he led the Oil and Gas Business Unit for SAS in Europe, the Middle East and Africa. Dominic has a very technology focused sales career with a great deal of exposure to the energy sector having previously worked at Accenture, Dell, Morse Group and mhm Group which was acquired by Deloitte. He will be based in BTL’s London office, UK. Mr. McCann will join the management team effective July 3, 2017.
“I am delighted to welcome Dominic to BTL’s Board and Management team. He has a very strong background in technology, sales and the energy sector and will be a huge asset to the Company, propelling us to achieve our goals as set out in our 2017 roadmap. I very much look forward to working with him going forward,” said Guy Halford-Thompson, Chief Executive Officer.
In order to facilitate Dominic’s appointment to the Board of Directors, Mike Sutton has agreed to step down from the Company’s Board of Directors, effective immediately.
The Company has also received notice from its Chief Operating Officer, Mr. Jackson Warren, of his intention to leave the Company having successfully built a number of startup businesses and now wishing to take some time away from the corporate world.
Guy Halford-Thompson continued, “Both Mike and Jackson have greatly assisted in growing BTL to where it is today and we are very grateful for their support and professionalism, helping to create great value for BTL and our shareholders. We thank them for all their hard work and wish them the very best in their future endeavors.”
Mr. Warren will remain with the Company for a period of three months to facilitate the implementation of an orderly succession and further details in this regard will be announced by the Company in due course.
The Board of Directors of the Company would like to express its gratitude to Mr. Sutton and Mr. Warren for their contributions to the Company and wish them both well in their future pursuits.
Mr. McCann’s appointments with BTL are subject to the approval of the TSX Venture Exchange.
Also, the Company announces the grant of incentive stock options to Mr. McCann to acquire a total of 150,000 common shares of the Company at an exercise price of $4.30 per share, such options to vest as to one-half on June 22, 2018 and one-half on June 22, 2019. The options expire five years from the date of grant.
ABOUT BTL GROUP LTD. AND INTERBIT
Operating from both Canada and the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary private blockchain. Via the Interbit platform, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. To date, BTL has successfully demonstrated how Interbit can innovate system processes for leading companies in the finance, energy and gaming sectors.
Interbit is a fast, encrypted and scalable multi-chain technology platform. Via its suite of APIs and smart contracts, Interbit allows businesses from across the world to improve efficiency in trading and operations, accelerate development of internal systems, and embrace new revenue generating opportunities, while providing the high levels of security, resilience and auditability required in regulated enterprise environments.
With offices in Vancouver and Canary Wharf in London, BTL is positioning itself as a front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in order to improve their existing IT systems.
Certain statements in this release are forward-looking statements, which include further development of BTL’s business relationships and business and the development and success of BTL’s technologies and products, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are 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 based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL’s technologies and products, as well as those risk factors discussed or referred to in BTL’s annual Management’s Discussion and Analysis for the year ended December 31, 2016 available at www.sedar.com, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.