Pluribus Technologies Corp. Expands Management Team and Appoints Nancy Fahy to Chief Financial Officer

TORONTO, June 1, 2023 /CNW/ -  Pluribus Technologies Corp. (TSXV: PLRB) ("Pluribus" or the "Company"), a growing acquirer of small, profitable technology companies, is pleased to announce the expansion of its management team with the appointment of Nancy Fahy as Chief Financial Officer. The Company's former CFO Mr. Simon Giannakis will transition his role to oversee the Company's M&A function.

Nancy Fahy will join the executive leadership team of Pluribus, reporting to Richard Adair, CEO. She is a seasoned finance professional with over 15 years of leadership experience at Ernst & Young LLP (EY). Most recently, Nancy was an Associate Partner in M&A, leading financial due diligence engagements for large private equity clients across several sectors, including technology, aviation and consumer products. She has extensive M&A experience across North America and Europe, having worked in EY's London UK office for five years. Nancy began her career in the EY audit practice in Toronto. She holds a Master of Management and Professional Accounting from the University of Toronto and a B.A.H from Queen's University.

"I'm pleased to welcome Nancy to the Pluribus team," said Richard Adair, CEO of Pluribus Technologies. "Her extensive experience in both the audit and M&A groups at EY and her track record growing and leading high performing teams will complement our existing dynamic executive leadership team."

"I would also like to thank Simon Giannakis for his leadership and dedication as CFO in supporting Pluribus through the go public process, bank refinancing and a period of high growth over the past two years as we scaled the business. This change enables Simon to utilize his extensive experience from his tenure at Enghouse Systems to focus on developing and executing a robust strategic capital deployment plan which maximizes flexibility and creativity in this uncertain macroeconomic environment and prepares the Company for its next phase of accelerated growth from M&A."

Stock Option Grant

Pluribus has granted incentive stock options ("Options") to purchase an aggregate of 150,000 common shares (the "Common Shares") of the Company to Nancy Fahy pursuant to the Company's stock option plan (the "Option Grant"). The Options are exercisable until June 1, 2028 at a price of $1.14 per Common Share, and vest in accordance with the following schedule: 1/3 on December 1, 2023, 1/3 on June 1, 2024 and 1/3 on June 1, 2025.

The issuance of the Options, as contemplated in this news release, is subject to the terms of the Company's stock option plan and TSXV approval.

About Pluribus Technologies Corp.

Pluribus is a technology company that is a value-based acquirer of small, profitable business-to-business technology companies in a range of verticals and industries. Pluribus provides its acquisitions access to experienced sales and marketing resources, strategic partnership opportunities, a diverse portfolio of customers in different geographical markets and enabling technologies to create new revenue streams and provide the opportunity for these companies to grow in their respective markets. For more information, please visit:

https://www.pluribustechnologies.com/.

Forward-Looking Information

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements with respect to the business plans of the Company, including the successful completion and pace of future acquisitions, the Company management's expectation on the growth, profitability and performance of its current and future acquisitions, the Company's ability to continue acquiring business-to-business technology companies at reasonable prices and the Company's ability to grow its portfolio companies into significant organizations. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions.

Forward-looking statements are based on certain assumptions, including the Company's ability to complete acquisitions on favourable terms; the Company's ability to manage a complex portfolio of companies effectively; the Company's ability to scale its management team to support a rapid pace of growth; the Company's ability to raise sufficient financing to continue the pace of its acquisition strategy; the Company's ability to maintain its rapid pace of growth. Other assumptions include industry trends, the availability of growth opportunities, and general business, economic, competitive, political, regulatory and social uncertainties will not prevent the Company from conducting its business. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Forward-looking information speaks only to such assumptions as of the date of this release.

Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, including the COVID-19 pandemic, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the Company's limited operating history; ability to complete favourable acquisitions; the technology industry in Canada and internationally, income tax and regulatory matters, the ability of the Company to execute its business strategies, including the ability manage a complex portfolio of companies effectively, competition, currency and interest rate fluctuations, and other risks.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Contact:

Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 [phone]

SOURCE Pluribus Technologies Corp.