ProStar Announces the Addition of Former Managing Director and General Partner of Goldman Sachs, Wayne Moore, to the Company's Board of Directors.
29 Junho 2023 - 9:03AM
ProStar Holdings Inc. (“ProStar®”or the “Company”) (TSXV: MAPS)
(OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping
Solutions®, is pleased to announce that Wayne Moore, former
Managing Director and General Partner at Goldman Sachs has joined
the Company’s Board of Directors (the “Board”). In connection with
this appointment, and to keep the size of the Board at six (6)
directors, being the maximum number of directors permitted under
corporate law, Mr. Jonathan Richards will resign from the Board.
Mr. Richards will remain as Chief Financial Officer and will be
nominated for election as a director at the Company’s next annual
general meeting.
Herb McKim, Chairman of the Board of ProStar, stated, “We are
very excited to announce the appointment of Wayne Moore to our
board. As a former managing director and general partner of Goldman
Sachs’ M&A division, Wayne is a seasoned executive in all
aspects of executive management, operations, and capital markets.
We are putting together a well-rounded board to help us navigate to
the next level, and we look forward to Wayne's contributions and
guidance.”
Wayne is a former General Partner and Managing Director of
M&A at Goldman Sachs. Wayne started Goldman's dedicated
technology M&A practice in Silicon Valley. Today, Wayne is a
private equity investor and a consultant at Madison Capital
Partners, LLC. He is a principal investor and member of the Board
of Directors at EPAY Systems, Inc., a founding partner and board
member at PetWell Partners and Sepire, LLC., and serves on the
board of Rush Medical Center. Wayne previously served on the Board
of Directors at Suncoke Energy Partners (NYSE: SXCP), the Chicago
Council on Global Affairs, and was a member of Goldman Sach’s
M&A Worldwide Leadership Council. Wayne holds an MBA from
Wharton School, University of Pennsylvania, and a M.S. in
Mechanical Engineering from the University of Alabama.
“While at Goldman, I worked with some of the most notable
technology companies in the world, and I have also been very active
as a founding investor and advisor to early-stage companies,”
stated Wayne Moore. “What ProStar has developed is a disruptive
technology with market potential everywhere in the world. I am
excited to work alongside the executive management team to help
ProStar succeed and to become a globally recognized brand
name.”
The Company granted 500,000 stock options to Mr. Wayne Moore,
exercisable at CAD$0.30, and are exercisable for a five-year term,
expiring June 29, 2028.
About ProStar:
ProStar is a world leader in Precision Mapping
Solutions and is creating a digital world by further
integrating the most modern GPS, cloud, and mobile technologies in
Precision Mapping Solutions. ProStar is a software development and
solution provider company specializing in developing cloud and
mobile precision mapping solutions focused on the critical
infrastructure industry. ProStar’s flagship product, PointMan®, is
designed to significantly improve the workflow processes and
business practices associated with the lifecycle management of
critical infrastructure assets both above and below the Earth’s
surface.
ProStar’s PointMan® is offered as a Software as a Service (SaaS)
and seamlessly connects the field with the office and provides the
ability to precisely capture, record, display, and manage critical
infrastructure, including pipelines and utilities. Some of the
largest entities in North America have adopted ProStar’s Precision
Mapping solutions, including Fortune 500 construction firms,
Subsurface Utilities Engineering (SUE) firms, utility owners, and
government agencies. ProStar has strategic business partnerships
with the world’s leading geospatial technology providers, data
collection equipment manufacturers, and dealer networks.
The Company has made a significant investment in creating a vast
intellectual property portfolio that includes several issued
patents in the United States and Canada. The patents protect the
methods and systems to digitally capture, record, organize, manage,
distribute, and display the precise location of critical
infrastructure, including buried utilities and pipelines. ProStar’s
Executive management team has extensive experience in the
management of both early-stage and Fortune 500 technology companies
in the private and public sectors.
For more information about ProStar, please
visit www.prostarcorp.com.
On behalf of the Company,Page Tucker on sales / corporate news
releases, CEO and DirectorContact:Joel SutherlandInvestor
Relations970-822-4792Investorrelations@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider
(as that term is defined in the policies of the TSXV) accept
responsibility for the adequacy or accuracy of this
release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within
the meaning of Canadian securities laws. Such information includes,
without limitation, information regarding the terms and conditions
of the Company’s future plans. Although the Company believes that
such information is reasonable, it can give no assurance that such
expectations will prove to be correct.
Forward-looking information is typically identified by words
such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”,
“postulate” and similar expressions, or are those which, by their
nature, refer to future events. The Company cautions investors that
any forward-looking information provided by the Company is not a
guarantee of future results or performance and that actual results
may differ materially from those in forward-looking information as
a result of various factors, including, but not limited to: the
state of the financial markets for the Company’s securities; the
state of the technology sector; recent market volatility; the
COVID-19 pandemic; the Company’s ability to raise the necessary
capital or to be fully able to implement its business strategies;
and other risks and factors that the Company is unaware of at this
time. The reader is referred to the Company’s recent Annual
Management’s Discussion & Analysis filed on SEDAR on April 21,
2023, for a more complete discussion of applicable risk
factors and their potential effects, copies of which may be
accessed through the Company’s issuer page on SEDAR
at www.sedar.com.
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