Jasper Commerce Announces Strategic Changes in Management

VANCOUVER, BC, Dec. 21, 2022 /CNW/ - Jasper Commerce Inc. (TSXV: JPIM) ("Jasper" or the "Company"), a leading provider of Product Information Management ("PIM") solutions, announces strategic changes to the Company's management team.  Jon Marsella will be stepping down from the role of Chief Executive Officer and Chairman and will become the Company's Chief Growth Officer.  The Board has elected to appoint Gerry Hurlow Interim Chief Executive Officer and Chairman.  Mr. Hurlow will continue to work with Mr. Marsella on the growth of the Company, while expanding the responsibilities of the Company's Chief Operating Officer, Sean Coutts.  As such, the Board has appointed Mr. Coutts as President in addition to COO of the Company.

Mr. Hurlow is President of Meteor Capital Inc., a company that invests in emerging Canadian technology companies.  Meteor has been a significant shareholder and investor in Jasper since 2017. Mr. Hurlow has been a Director of Jasper since 2018, having joined the Board of Directors prior to the Company's public listing.

Mr. Coutts joined Jasper in mid 2021 as Chief Technology Officer & COO with his initial focus on product advancement and customer support.  Since that time, Jasper's PIM software has been strengthened significantly with the addition of important new features.  Customer satisfaction has improved and the rate of churn has fallen.  In July of this year, responsibility for sales execution was added to his role. Mr. Coutts has quickly revamped sales operations to create a process that has translated into new software revenue being added each month on a more predictable basis.  As President, he will take on additional responsibility for the finance team alongside Mr. Hurlow.

"Sean has shown great leadership and I am excited about the continued progress that I expect he will drive in his expanded role." said Jon Marsella, Jasper's Founder.  "With Gerry and Sean taking full responsibility for operations and finance, I will be able to focus on major customer relationships, enterprise software sales and partner development.  I am excited to work as Chief Growth Officer and be able to exclusively focus on accelerating customer growth and strategic relationships.  We want to accelerate the growth of Jasper and this change will allow me to apply all my energies to this task; a change that will provide greater benefit to shareholders and customers alike."

About Jasper Commerce Inc.

Jasper offers a Product Information Management ("PIM") solution that has the objective of empowering eCommerce merchants to manage and merchandise their products from a single source of truth, facilitating them to sell more, sell faster and work smarter. Jasper's PIM is accessible from anywhere via a web-browser and is intended to simplify the process by which online merchants import product data into the PIM. Once uploaded, merchants can add various product data including product attributes, images, videos, marketing information, inventory quantities and price books and efficiently merchandise their products using various features that include, among other things, the ability to adjust product categorization, pricing data and other key metrics. Jasper's PIM also allows for automatic syncing to popular eCommerce storefronts, marketplaces, or other connected channels, whenever new products are added to the PIM.

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.

Forward Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Jasper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Jasper expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE Jasper Commerce, Inc.

Gerry Hurlow, Chairman, [email protected], [phone]; Nik Thadani, Investor Relations, [email protected], [phone]