NowVertical Announces Board and Management Changes Enhancing Capital Markets, Financial Governance and Operational Expertise

TORONTO, Jan. 08, 2024 (GLOBE NEWSWIRE) -- NowVertical Group Inc. ("NowVertical" or the "Company") (TSX-V: NOW) (OTCQB: NOWVF), a leading force in data analytics and AI solutions, is pleased to announce the strategic additions of two highly qualified directors, David Charron and Chris Ford, to the Company's Board of Directors. In addition, the Company is pleased to announce the appointment of Christine Nelson as Interim Chief Financial Officer of the Company effective as of February 1, 2024, replacing Alim Virani.

"We're excited to welcome David Charron and Chris Ford to our board," said Elaine Kunda, NowVertical's Board Chair. "With their expertise in capital markets, financial governance, and technical operations, they bring valuable strength to our leadership as we continue to pursue our growth strategy. We're eager to leverage their experience to maximize growth and profitability for NowVertical's global assets and enhance our track record in M&A execution. Our continued evolution reinforces our commitment to a more mature and integrated operating model. These changes today bring us one step closer to realizing that vision."

Mr. David Charron is an accomplished public company CFO and Board Director renowned for his achievements in Canadian capital markets, equity financing, debt financing, mergers and acquisitions, and driving profitable growth in global technology businesses. His extensive experience includes serving as a Public and Non-Profit Board Director with organizations such as International Datacasting Corp, William Osler Health System, CMA Ontario, and serving as the Corporate Secretary for Redknee Solutions Inc. Mr. Charron currently serves as the CFO of Tiny Ltd., a TSX Venture Exchange listed holding company based in Canada with investments in North America and Europe. He has a B.Eng and an MBA from McMaster University, holds CPA and CMA designations, and is a Chartered Director (C.Dir.). Mr. Charron will assume the role of Chairman of the Audit Committee.

Mr. Chris Ford is a senior business executive with over 20 years of market experience, specializing in strategy and implementation of technology transformation services. Mr. Ford spent six years as CEO of Capco Canada, a leading business and technology professional services firm specializing in the financial services domain, including during its USD $1.45 billion acquisition by Wipro in 2021. Recently, Mr. Ford served as program consultant in an executive capacity responsible for enterprise modernization at Jacksonville-based FIS, one of the world's largest fintechs. Presently, Mr. Ford is President of Intelliware, a Toronto-based consulting and professional services business that provides services to customers across the US, Canada, and the United Kingdom. He is a recognized thought leader, speaker and author on technology, futurology, IT strategy, digital transformation, and performance engineering. Mr. Ford holds a Bachelor's Degree in Systems Design Engineering with an option in Cognitive Sciences from the University of Waterloo.

In connection with these appointments, Mr. Scott Nirenberski will be resigning from his role as a board member due to other advisory engagements and the number of directors comprising the board has been increased to six.

Additionally, NOW announces that Mr. Alim Virani will be stepping down from the position of CFO, effective February 1, 2024, to pursue an opportunity with an early-stage private growth company. Mr. Virani will remain with NowVertical as an advisor through April 30, 2024. Ms. Christine Nelson, the current VP of Finance, will assume the interim CFO role, effective February 1, 2024. Ms. Nelson joined NowVertical from Brookfield Asset Management in June 2022 and has played a crucial leadership role in the Company's financial reporting and back-office integration among business units.

"As we welcome Christine Nelson into her expanded role, we also sincerely thank Alim Virani and Scott Nirenberski for their invaluable contributions to NowVertical," said Elaine Kunda.

About NowVertical Group Inc.: 

NowVertical Group is a Vertical Intelligence (VI) software and services provider that delivers vertically-specific data, technology, and artificial intelligence (AI) applications into private and public verticals globally. NOW's proprietary solutions sit at the foundation of the modern enterprise by transforming AI investments into VI, enabling its customers to minimize their risk, accelerate the time to value, and reduce costs. NOW is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company's business.

The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information, please contact:

Andre Garber, Co-founder, CDO and Board Member
[email protected]

Glen Nelson, Investor Relations and Communications:
[email protected]
t: (403) 763-9797