VANCOUVER, BC, July 7, 2022
/CNW/ -- Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and
its wholly-owned subsidiary Zoomd Ltd. (collectively,
"Zoomd" or the "Company"), the marketing technology
(MarTech) user-acquisition and engagement platform, today announced
that its current Chief Executive Officer (CEO), Mr. Ofer Eitan, will be stepping down from his role
and the Company will commence a search for a new CEO. Mr. Eitan
will continue to serve as the Company's CEO until the earlier of
(1) a suitable replacement CEO being found; and (2) December 31, 2022. Mr. Eitan will remain on the
Company's Board of Directors until further notice following his
resignation and assist in a smooth leadership transition.
Ofer Eitan has been the Chief
Executive Officer of the Company for the past 5 years, since the
merger in 2017 between the Company and Moblin (the company that he
founded and managed). Under Mr. Eitan's leadership, the Company has
built a strong management team and drove outstanding results – the
2021 audited annual financial statements reflected annual revenues
of above $50M, representing a YoY
growth of more than 100%, a solid and profitable operation, with
tier 1 international companies, and a strong path for the
development of the Company's business.
"It has been a pleasure to serve as the CEO of Zoomd during the
past years and I want to thank all of our employees and partners
along the way - innovation and dedication allowed us to achieve so
much. I feel that time is ripe for entrusting the Company to a new
CEO, who will ensure further growth and additional creation of
value for the Company and its shareholders" said Ofer Eitan.
"I want to thank Ofer for his distinguished leadership at Zoomd.
With him at the helm during the last 5 years, Zoomd has increased
its revenue, profit and customer base, the activity is stable and
on an excellent track for continued healthy development of the
Company. " Said Amit Bohensky,
Chairman of Zoomd's Board of Directors.
To ensure a seamless transition, the Company's Board of
Directors has appointed a committee including Mr Eitan to conduct a
search for the new CEO and make recommendations to the full Board
of Directors. The committee will be hiring a leading executive
search firm to conduct a global search for Mr. Eitan's
successor.
ABOUT ZOOMD:
Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began
trading on the TSX Venture Exchange in September 2019, offers
a site search engine to publishers, and a mobile app
user-acquisition platform, integrated with a majority of
global digital media, to advertisers. The platform unifies more
than 600 media sources into one unified dashboard. Offering
advertisers, a user acquisition control center for managing all new
customer acquisition campaigns using a single platform. By unifying
all these media sources onto a single platform, Zoomd saves
advertisers significant resources that would otherwise be spent
consolidating data sources, thereby maximizing data collection and
data insights while minimizing the resources spent on the exercise.
Further, Zoomd is a performance-based platform that allows
advertisers to advertise to the relevant target audiences using a
key performance indicator-algorithm that is focused on achieving
the advertisers' goals and targets.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
DISCLAIMER IN REGARD TO FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to Zoomd's ability to
recruit a suitable replacement CEO, its ability to have a smooth
transition period and its future ability to successfully continue
its growth. Forward-looking statements are based on our current
assumptions, estimates, expectations and projections that, while
considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking statements. Such factors include,
but are not limited to: general business, economic, competitive,
technological, legal, privacy matters, political and social
uncertainties (including the impacts of the COVID-19 pandemic and
the current war in Ukraine), the
extent and duration of which are uncertain at this time on Zoomd's
business and general economic and business conditions and markets.
There can be no assurance that any of the forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether because of new information, future events or otherwise,
except as required by law.
The reader should not place undue importance on forward-looking
information and should not rely upon this information as of any
other date. All forward-looking information contained in this press
release is expressly qualified in its entirety by this cautionary
statement.
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Company media contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com
www.zoomd.com
Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com
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SOURCE Zoomd Technologies Ltd.