Sylogist Announces New President & CEO

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CALGARY, AB, Nov. 9, 2020 /CNW/ - The Board of Directors of Sylogist Ltd. (TSXV: SYZ) ("Sylogist" or the "Company"), is pleased to announce the appointment of veteran technology leader Bill Wood as President & CEO.  Mr. Wood has also been appointed to the Company's Board.  He will take up his post immediately, succeeding recently retired President & CEO Jim Wilson.

Bill has led a number of technology companies, with over 25 years' experience in Sylogist's core verticals of Not-For-Profit and Municipal enterprises.  Bill started his career as a founding member of Blackbaud Inc.  In increasingly senior management roles in sales, marketing and ultimately as chief executive in a number of companies, Bill's career highlights include successes in building sales teams & marketing strategies, launching a SaaS charitable giving platform and leading a company's strategic transition from a niche, license-based provider to a SaaS market leader.  Additionally, Bill is seasoned in strategic acquisitions, having managed a business alignment that incorporated seven entities.  He most recently was President and Chief Executive Officer of private equity-backed FrontStream, a leading, SaaS provider in the NFP, payments, employee giving and corporate social responsibility sectors. Throughout his career, Bill has demonstrated the ability to create significant value through both organic and inorganic initiatives.

Mr. Wood was selected by a committee of independent directors of Sylogist, following an extensive international process, which presented a strong field of candidates.  "We are fortunate to have attracted someone of Bill's caliber and experience to lead Sylogist" commented Barry Foster, Sylogist's Chair and Interim CEO. "His career background in software and familiarity with our business segments will help us continue to evolve our strategy as we begin our next chapter. Starting with a strong balance sheet, significant recurring revenue and industry-leading margins, the Board has challenged Bill to focus the Company's extensive resources on both organic investments in its own IP portfolio and on strategic acquisitions to leverage its IP platform and market position.

Incoming President & CEO Bill Wood added: "I feel my career background has positioned me well to lead the Sylogist team.  My skills, experience, passion and the Board's shared vision are very much aligned. I look forward to getting started and to sharing the Company's focus and refined strategic direction with the market in the near future."

About Sylogist

Sylogist is a software company that, through strategic acquisitions, investments and operations management, provides comprehensive, mission-critical ERP and CRM solutions, including fund accounting, case management, grant management and payroll, to public service organizations.  Sylogist's public service customers include all levels of government, nonprofit organizations, non-governmental organizations, educational institutions as well as public compliance driven and funded companies. Our Company delivers highly scalable, multi-language, multi-currency software solutions, which serve the needs of an international clientele.

Full financial statements together with Management's Discussion and Analysis are available on SEDAR at www.sedar.com.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.

Forward-looking Statements

Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations.  These statements typically use words such as expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. Forward-looking information in this news release includes statements with respect to the incoming CEO's ability to create significant value through both organic and inorganic initiatives and his extensive tech background and familiarity with the Company's business segments helping it to continue to refine its strategy.  By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature.  It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate.  Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Additional information regarding some of these risks, uncertainties and other factors may be found under in the management's discussion and analysis for the quarter ended June 30, 2020 and other documents available on the Company's profile at www.sedar.com.  Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include the incoming CEO's ability to refine Sylogist's strategy and to create value both organically and by acquisitions.  Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Sylogist's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

- 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 -

SOURCE Sylogist Ltd.

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