McCoy Global Adds Leading Data Science Executive to Board of Directors

EDMONTON, AB, Jan. 20, 2021 /CNW/ - McCoy Global Inc. ("McCoy," "McCoy Global" or "the Corporation") (TSX: MCB) today announced the addition of Mr. Cory Janssen to its Board of Directors. Mr. Janssen is the co-founder and co-CEO of machine learning developer, AltaML Inc. ("AltaML").

"Mr. Janssen is one of Canada's leading technology entrepreneurs and has an established track record of utilizing data science to accelerate process optimization," said Chris Seaver, Chairman of McCoy. "Cory's unique insights into technology and machine learning will be invaluable as McCoy rapidly deploys the next stage of its Digital Technology Roadmap."

"McCoy is initiating the commercialization stage of a significant transition to a digital and automated future. We are focused on providing greater value for our customers with innovative smart technology solutions that maximize efficiency, reduce costs, while improving safety and wellbore integrity," said Jim Rakievich, CEO of McCoy. "We are eager to leverage Cory's significant data analytics expertise in shaping our technology future."

In Cory's current role at AltaML, he leads a team focused on applying artificial intelligence and machine learning models to deliver predictive decision making. In today's complex business world, predictive models produce accurate, data-driven decisions to accelerate competitiveness. 

Previously, Mr. Janssen was co-founder of Investopedia.com, a financial education site that provided content and tools to help educate individual investors. From its founding in 1999, Investopedia became one of the most popular financial sites on the web and was sold to Forbes Media in 2007. The business model for Investopedia was then replicated through Janalta Interactive Inc., a holding company for digital media properties. Cory is past-President of the Edmonton chapter for Entrepreneur's Organization and active in the Alberta entrepreneurial community as a member of the A100, the Venture Mentoring Service program at the University of Alberta and as an associate for Creative Destruction Labs Rockies. He also sits on the Board of Edmonton Global, the economic development corporation for the Edmonton Municipal Region, as well as several private-company advisory boards.

The Company today also announced that Mr. Dale Tremblay has expressed his intent not to stand for re-election at the Company's next Annual Meeting of Shareholders.

"The Board of Directors would like to thank Dale for his dedication to McCoy and for his leadership over the last six years," said Chris Seaver, Chairman of McCoy. "Since 2015, we have deeply valued his broad ranging knowledge, significant contributions and personal dedication to McCoy and wish him the very best in his future endeavors."

About McCoy Global Inc. 

McCoy Global provides technologies designed to support wellbore integrity and assist with collecting critical data for the global energy industry. The Corporation operates internationally through direct sales and distributors with operations in Canada, the United States of America, and the United Arab Emirates.

McCoy's corporate headquarters are located in Edmonton, Alberta, Canada. The Corporation's shares are listed on the Toronto Stock Exchange and trade under the symbol "MCB".

Forward-Looking Information

This News Release contains forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "objective", "ongoing", "believe", "will", "may", "projected", "plan", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. This New Release contains forward looking statements respecting the business opportunities for the Corporation that are based on the views of management of the Corporation and current and anticipated market conditions; and the perceived benefits of the growth strategy and operating strategy of the Corporation are based upon the financial and operating attributes of the Corporation as at the date hereof, as well as the anticipated operating and financial results. Forward looking statements regarding the Corporation are based on certain key expectations and assumptions of the Corporation concerning anticipated financial performance, business prospects, strategies, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, which are subject to change based on market conditions and potential timing delays. Although management of the Corporation consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in the forward looking statements, including inability to meet current and future obligations; inability to complete or effectively integrate strategic acquisitions; inability to implement the Corporation's business strategy effectively; access to capital markets; fluctuations in oil and gas prices; fluctuations in capital expenditures of the Corporation's target market; competition for, among other things, labour, capital, materials and customers; interest and currency exchange rates; technological developments; global political and economic conditions; global natural disasters or disease; and inability to attract and retain key personnel. Readers are cautioned that the foregoing list is not exhaustive. The reader is further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These judgments and estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes. The information contained in this News Release identifies additional factors that could affect the operating results and performance of the Corporation. We urge you to carefully consider those factors. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this News Release are made as of the date of this New Release and the Corporation does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

SOURCE McCoy Global Inc.

Mr. Jim Rakievich, President & CEO, McCoy Global Inc., Phone: [phone], E-mail: [email protected], Website: www.mccoyglobal.com