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DigitalTown, Inc. announces appointment of George Nagy as new CEO

September 18, 2018

SEATTLE and WASHINGTON, Sept. 18, 2018 (GLOBE NEWSWIRE) -- DigitalTown (OTC:DGTW) – provider of the world’s first Global Smart City Network powered by Blockchain-based, decentralized applications – announces the appointment of George Nagy as the company’s new Chief Executive Officer, effective September 14, 2018. Mr. Nagy joined the DigitalTown Board of Directors on June 25, 2018. He replaces outgoing CEO Rob Monster, who joined DigitalTown on May 18, 2015. Mr. Monster also steps down from the Board of Directors.

A digital executive with more than three decades of experience, Mr. Nagy brings a wealth of experience in strategic planning, private equity, capital markets and global business development and leadership. He is a seasoned technology expert and a Board Member of Cyber Maryland, CEO of Cyberavent and Chairman of the Cyber Security Committee. Based in DC, Mr. Nagy boasts a track record of positively impacting organizations by creating new business cultures that improve customer acquisition and EBITDA by millions of dollars annually and hundreds of basis points.

New DigitalTown CEO, George Nagy, comments: “DigitalTown is well positioned to take the lead in providing life-enhancing and community reinforcing tools, available for free on mobile, designed to ensure that more of the profits generated in any town or city, stay local. Our focus for the rest of 2018 are our pilot projects and local proofs of concept, including Austin. Our target is to grow the volume of SmartWallet transactions and to help independent businesses across retail, services, lodging and dining claim their free storefront.”

Outgoing CEO, Rob Monster, says: “It has been a honor serving as DigitalTown’s CEO for the past three and a half years. My vision of DigitalTown enabling every town, city and village to become its own Google, AirBnB, Expedia, Amazon, PayPal and OpenTable has been well received throughout the world. I look forward to witnessing as this transformative global vision becomes an operating reality, starting in Austin.”

“Based on his background and his initial work as both a Board Director and as Chief Operating Officer, I am confident that George will bring the type of operating discipline that will be appropriate for success in the next phase. Although I have stepped down as CEO, and also off of the Board of Directors, I continue both as a large shareholder as well as an enthusiastic fan of the company. I look forward to ongoing dialog with George as the company embarks on the next phase,” adds Rob Monster.

George Nagy concludes: “I want to thank Rob for his service to DigitalTown and I commend him on his achievements. I also want to thank the Board for their faith and confidence in selecting me as their CEO. The world of blockchain and decentralized applications is growing rapidly and it is exciting indeed to be leading a company, which is at the forefront of this cutting-edge technology and paradigm shift. I feel very good about the calibre of the team now in place. The Austin pilot project has gained traction during recent months, and now we are building on that momentum, with a laser sharp local focus and an eagle’s view of the global potential of DigitalTown.”

DigitalTown’s ecosystem comprises localized search engine, a free storefront for all merchants, a free SmartWallet for payments, and community collaboration tools. DigitalTown blockchain-based technology is designed to support local communities and drive local commerce instore and online. DigitalTown is one of the first public companies to fully adopt blockchain, providing tools that empower residents, visitors, merchants and municipalities to work together to create thriving, sovereign local communities.

About DigitalTown

DigitalTown, Inc. (DGTW) powers Smart Cities to succeed in the Digital Age. It provides turn-key hosted solutions to power “Digital Towns”, which improve Quality of Life for residents and visitors with solutions for economic development, civic engagement and digital inclusion for cities around the world. You can download the free DigitalTown App for iOS and Android.

Contact

George Nagy, Chief Executive Officer+ 1 703 835 3122 george.nagy@digitaltown.com

Karen Floyd, Chief Brand Officer+34 692 336 787 karen.floyd@digitaltown.com

Disclaimer - Forward Looking StatementSafe Harbor Language: Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.

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