MTLO Martello Technologies Group Inc

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OTTAWA, ON, Nov. 6, 2023 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a leading developer of monitoring solutions that optimize the modern workplace announced today the departure of Chief Executive Officer ("CEO") John Proctor.  Jim Clark, currently the Chief Financial Officer at Martello, will assume the additional role of Interim CEO effective immediately. The Board of Directors (the "Board") will initiate a comprehensive search for a new CEO to lead Martello into the next phase of its growth and development.

Mr. Proctor served as CEO of Martello for approximately six years, taking the Company public on the TSX Venture Exchange, completing three acquisitions and guiding Martello's strategic focus on digital experience monitoring solutions for the Microsoft modern workplace and Mitel unified communications.

"It has been an honour and incredible journey leading the Martello team and contributing to the success of the Company", said Mr. Proctor. "I am immensely proud of what we accomplished together and am confident in Martello's future."

Terence Matthews, Chairman of the Martello Board added "On behalf of the Board, I want to extend our appreciation to John for his dedication and leadership during his tenure as CEO. Martello is positioned for future growth and to deliver on its mission to provide exceptional digital experience monitoring solutions to customers. We are facing an exciting but challenging market environment, where innovation, agility, and customer focus remain essential. We are confident that Jim Clark, together with the new CEO will drive the Company towards growth and market leadership."

With Mr. Clark at the helm as Interim CEO, Martello remains committed to delivering innovative solutions to its customers and partners. The Company's focus on customer satisfaction, product excellence, and industry leadership will continue to be its top priorities.

Martello (TSXV: MTLO) is a technology company that provides monitoring solutions to optimize the modern workplace. 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.

This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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.

This news release contains "forward-looking statements". Forward-looking statements 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.  Examples of forward-looking statements include, among others, statements we make regarding the search for a new CEO.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are 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 statements relate to the future, they 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 statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements 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, 2021 dated January 7, 2022, which is available on the Company's profile on SEDAR at .

Any forward-looking statement made by us in this news release is based only on information currently available to us 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 statement, 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.