Canada NewsWire
VANCOUVER, July 15, 2016
VANCOUVER, July 15, 2016 /CNW/ - Deploy Technologies Inc.
(CSE: DEP, US OTC: DPLY) ("Deploy" or the "Company") is pleased to announce the appointment of Murray Simser as Chief Executive Officer and Susan Naylen Sorrell as Chief
Financial Officer of the Company. Additionally, the board of directors of Deploy has been reconstituted and now consists of
Murray Simser, Susan Naylen Sorrell and Chris
MacLeod.
The change in management and directors follows the sale of 911,062 common shares and 6,557,973 preferred shares (the "Purchased
Shares") held by Trepped Enterprises Inc. ("Trepped"), a significant shareholder of the Company, to Mustang Asset Management Inc.
("Mustang") for aggregate gross proceeds of $76,300 (the "Acquisition"). The Acquisition was
made pursuant to a share purchase agreement dated July 14, 2016 between Mustang and Trepped.
Following the Acquisition, Mustang owns approximately 14% of the issued and outstanding common shares of the Company, calculated
on an undiluted basis and, on a diluted basis assuming conversion of all the preferred shares of the Company, Mustang owns
approximately 82% of the issued and outstanding common shares of the Deploy. Mustang is a private corporation that invests in
developing technology companies. An early warning report in respect of this transaction and all required disclosure shall be
made in accordance with applicable securities laws.
ABOUT DEPLOY TECHNOLOGIES INC.
Deploy Technologies Inc. develops leading edge technologies with the vision of future market needs. To date it has developed a
comprehensive suite of products focused on Fleet Data Management & Weigh Systems solutions designed for the industrial
transportation market.
Company reporting information can be found on the Company's website, CSE (www.thecse.com) and SEDAR (www.sedar.com), as
well as on OTC Markets (www.otcmarkets.com).
SOURCE Deploy Technologies Inc.
