Sylogist Ltd. Announces Changes to Board of Directors

CALGARY, Alberta, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Sylogist Ltd. (TSX: SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, is pleased to announce that Mr. Errol Olsen has been added as a director of the Company effective August 25, 2023.

Errol Olsen, upon his appointment:

"I’m honoured to join the Sylogist Board at this very exciting time for the company and its investors. I'm looking forward to using my experience with SaaS companies in balancing fiscal stewardship and strategic innovation to further empower Sylogist on its profitable growth journey."

Mr. Olsen currently serves as Chief Operating Officer at Uncommon Purpose Ventures and was previously CFO of Absolute Software for over nine years. He brings more than 25 years of experience leading the finance and operations functions of companies ranging from start-ups to multinational corporations. Prior to leaving public practice, Errol was a manager in the audit and advisory services group at KPMG LLP, where he worked with a portfolio of private and public companies. Mr. Olsen holds a CPA, CA designation and a Bachelor of Business Administration from Simon Fraser University. He brings to Sylogist a broad experience in finance, strategy development, operations, technology, and governance. Mr. Olsen has been nominated as a director pursuant to the Nomination Agreement entered into between the Company and PenderFund Capital Management Ltd., its largest shareholder, on June 20, 2023. A copy of the Nomination Agreement is available under the Company’s profile on SEDAR+.

Sylogist also announces that Ms. Janice Anderson has resigned as a director of the Company. The Company’s management and its directors thank Ms. Anderson for her service and wish her the best in her future endeavours.

Upon his appointment to Sylogist’s board of directors, Mr. Olsen has been appointed as an additional member of the Audit Committee, and effective as of August 25, 2023, the committees of the board of directors are constituted as follows:

Audit Committee: Taylor Gray, Barry Foster, Errol Olsen

Nominating and Governance Committee: Barry Foster, Ian McKinnon, Taylor Gray

Compensation Committee: Craig O’Neill, Ian McKinnon, Taylor Gray

About Sylogist

Sylogist provides mission-critical SaaS solutions to over 2,000 public sector customers globally across the government, nonprofit, and education verticals. The Company's stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist, inclusive of full financial statements together with Management’s Discussion and Analysis, can be found at www.sylogist.com.