Subject: BOARD OF DIRECTORS
TeraGo Inc. Announces Election of Directors and Matthew Gerber as New Chair of the Board
TORONTO, ONTARIO--(Marketwired - June 15, 2017) - TeraGo Inc. ("TeraGo" or the "Company") (TSX:TGO) (www.terago.ca) announces that the nominees listed in the management information circular for the Company's 2017 Annual and Special Meeting of Shareholders (the "Meeting") were each re-elected as directors of TeraGo. Among the directors re-elected, the Company announces Mr. Matthew Gerber as the new Chair of the Board effectively immediately. Mr. Gerber will be replacing Mr. Jim Nikopoulos who did not stand for re-election.
Mr. Gerber joined TeraGo's Board in June 2016 and currently serves as the Chief Executive Officer and a board member at Rohinni LLC, a developer of next generation lighting systems for mobile computing applications. Prior to that, Mr. Gerber held operating or board roles at several significant cloud computing businesses, including: 2nd Watch, one of Amazon Web Services largest global business partners; IT-Lifeline, one of Amazon Web Services first business partners (subsequently acquired by Reynolds & Reynolds); and Blue Box Group, one of the first providers of hosted managed private cloud services on top of OpenStack (subsequently acquired by IBM). Mr. Gerber holds a Bachelor of Engineering in Electrical Engineering from the State University of New York at Stony Brook and a Master of Business Administration with Distinction from Hofstra University.
Mr. Gerber commented, "I'm excited and thrilled to take on this vital and enhanced role at TeraGo and will look to work with our CEO and Board to lead the Company into the next stage of its strategic growth plan. We were very fortunate to have had Jim Nikopoulos' strong leadership in his capacity as not only Chair of the Board, but also as a director and as part of TeraGo's management team for numerous years. He made significant contributions to the Company and we are greatly appreciative of his hard work through the various roles he has taken on."
Mr. Antonio (Tony) Ciciretto, President and CEO of TeraGo added, "We look forward to Matt's leadership given his highly relevant experiences. We are confident the Board will continue its focus on creating long-term value for both our shareholders and customers under Matt's new role as Chair."
Detailed results of the votes by proxy for the election of directors held on June 15, 2017, as well as the other matters voted at the Meeting are as follows:
| Brief Description of Matter Voted Upon | Outcome of Vote(1) |
For | Against | |
| 1) In respect of the fixing of the number of directors of the Company at seven (7); | Approved | 9,862,984 (99.96%) |
3,500 (0.04%) |
|
| 2) In respect of the election of directors to hold office until the close of the next annual meeting of Shareholders or until their successors are elected or appointed: | For | Withheld | ||
| Antonio (Tony) Ciciretto | Approved | 9,547,572 (99.99%) |
900 (0.01%) |
|
| Matthew Gerber | Approved | 9,547,572 (99.99%) |
900 (0.01%) |
|
| Michael Martin | Approved | 9,361,440 (98.04%) |
187,032 (1.96%) |
|
| Gary Sherlock | Approved | 9,541,422 (99.93%) |
7,050 (0.07%) |
|
| Hon. Jerry Grafstein, Q.C. | Approved | 8,598,640 (90.05%) |
949,832 (9.95%) |
|
| 3) In respect of the re-appointment of KPMG LLP, Chartered Accountants as auditors of the Company to hold office until the next annual meeting of Shareholders and authorizing the directors to fix their remuneration. | Approved | 9,865,284 (99.99%) |
1,200 (0.01%) |
|
| For | Against | |||
| 4) In respect of the special resolution to approve the Company's directors' share compensation program and the reservation of additional common shares issuable pursuant to such program.(2) | Approved | 6,203,921 (99.83%) |
10,450 (0.17%) |
|
| (1) Vote conducted at Meeting by show of hands. The number of votes and percentages shown are based upon the votes cast by proxy only. |
| (2) Includes only votes of disinterested shareholders. |
A report of voting results for each resolution presented at the Meeting prepared in accordance with National Instrument 51-102 - Continuous Disclosure Obligations has been filed on www.sedar.com.
About TeraGo
TeraGo provides businesses across Canada and internationally with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, nine data centres in the Greater Toronto Area, the Greater Vancouver Area, Ottawa, Kelowna, Winnipeg, St. Louis and Newport, United Kingdom, and owns and manages its own IP network. The Company serves approximately 4,000 business customers in 46 major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver and Winnipeg. TeraGo Networks is a Competitive Local Exchange Carrier (CLEC) and was recognized by IDC as a Major Player in MarketScape Cloud Vendor Assessment. TeraGo Networks was also selected as one of Canada's Top Small and Medium Employers for 2017.
For more information about TeraGo, please visit www.terago.ca.
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