AP NEWS
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Boardwalktech Appoints Industry Veteran Steve Bennet to the Board

May 28, 2019

CUPERTINO, Calif., May 28, 2019 (GLOBE NEWSWIRE) -- Boardwalktech Software Corp. (“Boardwalktech”), a leading digital ledger platform and enterprise software solutions company, is pleased to advise that industry veteran Steve Bennet has been appointed as an Independent Director of the Company and to the Company’s Audit Committee.

Mr. Bennet brings over 30 years of experience to Boardwalktech’s Board of Directors, as Chief Financial Officer (CFO), investor, and/or board member of over 100 technology start-ups in the Silicon Valley entrepreneurial ecosystem, primarily in the software, Internet, and mobile sectors. Mr. Bennet is also the founder and managing director of the management consulting firm Bodega Partners. Mr. Bennet’s executive roles as CFO include Rollbar, Xenio Systems, Qvivr, Callisto Media, Revel Systems, iControl Networks (acquired by Comcast), Appstores (acquired by InMobi), Greystripe (acquired by ValueClick), Fliqz (acquired by VBrick Systems), Valchemy (acquired by IBM), GolfWeb (acquired by CBS Sportsline), Orbital Data (acquired by Citrix), TextDigger (acquired by Federated Media), and Pharmacy TV Network (acquired by RMG Networks). Mr. Bennet possesses a passion for both entrepreneurship and education. He has taught entrepreneurial finance since 1995 and is currently adjunct faculty at San Jose State University and has been a lecturer at U.C. Berkeley. His focus is on experiential education and has developed new courses at SJSU, including the Entrepreneurship Lab (ELAB), Venture Lab (VLAB), Startup Founders and Funders, and the Silicon Valley Experience. He is also on the Steering Committee for the Silicon Valley Center for Entrepreneurship and UCLA Venture Capital Fund. Prior to and concurrent with Bodega, Mr. Bennet was a Founding Partner at True Global Ventures, Partner at CrossCoin Ventures, Venture Partner at Outlook Ventures, Board Member of Sand Hill Angels, Partner at Menlo Incubator and held various financial and management positions at Bay Logics, Digital Microwave, and Arthur Andersen. Mr. Bennet earned an undergraduate degree in economics from the Wharton School at the University of Pennsylvania and MBA from the Anderson School at UCLA.

“One key reason that drew me to Boardwalktech, not only as an advisor but as an investor as well, is that it’s patented Digital Ledger technology is not only unique in the market, but a big shift in the way enterprises should run their businesses. The number of forward-thinking Fortune 500 companies that have already adopted the Boardwalk platform is evidence that this change is happening and will continue to provide an immediate and long-term ROI to these enterprises. It is my belief that the Boardwalk platform should be a standard in every enterprise, and I look forward to helping the Company realize that vision.” said Mr. Bennet.

Andrew T. Duncan, CEO of Boardwalktech states, “Steve Bennet is a Silicon Valley veteran and will be an outstanding addition to our Board of Directors and will be a terrific chair of our Audit Committee. Steve Parry, current Audit Committee Chair will continue in his role on the Audit Committee as well as continue as chair of our Compensation and Governance Committee. Steve Bennet’s experience, finance background and business acumen with emerging technology companies, especially in the software and SaaS markets, made him a preferred addition to our board. Steve has been involved with Boardwalktech as an advisor for over 10 years, is an early investor in the company, and also recently participated in our last equity raise which closed in April 2019. Steve will bring a wealth of knowledge and history as an independent board member and I very much look forward to working with Steve to continue our journey of success.”

About Boardwalktech Software Corp.

Founded in 2004, Boardwalktech has developed a patented, robust, digital ledger technology that allows for multi-party collaboration and verification on a trusted, shared, secure, and private information cloud. Our Boardwalk Enterprise Blockchain data management platform allows rapid blockchain application development on many platforms using any user interface, supporting “smart contract” business logic, integration with legacy systems and an easy method of connecting all participants (through Boardwalk virtual machines) enabling the exchange of secure and validated digital business information.

Boardwalktech is headquartered in Cupertino, California with offices in India and operations in North America. For more information on Boardwalktech, visit our website at www.boardwalktech.com.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning the Offering (including the completion of any additional tranches of the Offering), the use of the proceeds raised under the Offering and the anticipated resolution of the Company’s negotiations with its lender under its existing loan agreement.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading “Risk Factors” in the Company’s filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Neither 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.

Contacts:

Charlie Glavin Boardwalktech, Inc. 650-618-6163 charlie.glavin@boardwalktech.com

All contents © copyright 2019 The Associated Press.All rights reserved.