DATA Group Ltd. Announces the Resignation of Michael Sifton as President and Chief Executive Officer
BRAMPTON, ON, April 6, 2016 /CNW/ - DATA Group Ltd. (TSX: DGI) ("DATA" or the "Company") announced today that Michael Sifton, the President and Chief Executive Officer of DATA, has tendered his resignation as an officer of the Company for personal reasons, with an effective date of July 3, 2016. The board of directors wishes to thank Mr. Sifton for his service as an officer of the Company. Mr. Sifton remains a director of the Company.
The board of directors of the Company will commence a search for Mr. Sifton's successor and expects to announce his replacement prior to the effective date of his resignation. Under the terms of the credit facilities made available to the Company by the Integrated Private Debt division of Integrated Asset Management Corp. ("IAM"), if the Chief Executive Officer of the Company voluntarily resigns as an officer of DATA, the Company will have 60 days from the effective date of the officer's resignation to replace such officer, such replacement officer to be satisfactory to IAM, acting reasonably.
About DATA Group Ltd.
At DATA, we are experts at planning and driving business communications. We help marketers and agencies unify and execute communications campaigns across multiple channels, and we help operations teams streamline and automate document and communications management processes. Our core capabilities include direct marketing, print services, labels and asset tracking, event tickets and gift cards, logistics and fulfilment, content and workflow management, data management and analytics, and regulatory communications. We serve clients in key vertical markets such as financial services, healthcare, lottery and gaming, retail, not-for-profit, and energy. We are strategically located across Canada to support clients on a national basis, and serve the U.S. market through our facilities in Chicago, Illinois.
Additional information relating to DATA Group Ltd. is available on www.datacm.com, and in the disclosure documents filed by DATA Group Ltd. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of DATA, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. When used in this press release, words such as "may", "would", "could", "will", "expect", "anticipate", "estimate", "believe", "intend", "plan", and other similar expressions are intended to identify forward-looking statements. These statements reflect DATA's current views regarding future events and operating performance, are based on information currently available to DATA, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Many factors could cause the actual results, performance, objectives or achievements of DATA to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward-looking statements. The principal factors, assumptions and risks that DATA made or took into account in the preparation of these forward-looking statements include the Company's ability to identify and hire a replacement to DATA's current Chief Executive Officer on terms acceptable to the Company; the terms of DATA's credit facilities with IAM, which provide that any such replacement officer must be hired within a specified period of time and must be satisfactory to IAM, acting reasonably; and DATA's ability to maintain relationships with its customers and suppliers. Additional factors are discussed under the headings "Risk Factors" and "Risks and Uncertainties" in DATA's management's discussion and analysis and in DATA's other publicly available disclosure documents, as filed by DATA on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, DATA does not intend and does not assume any obligation to update these forward-looking statements.
SOURCE DATA Group Ltd.
contact: Mr. James E. Lorimer, Chief Financial Officer, DATA Group Ltd., Tel: (905) 791-3151
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