Posera Announces the Appointment of Tom McCole as Chairman of the Board

TORONTO, Oct. 11, 2018 /CNW/ - Posera Ltd. (TSX: PAY) ("Posera" or the "Company"), a global provider of hospitality software and payment solutions, announced that effective today, Mr. Tom McCole has been appointed Chairman of the Board of Directors.

Mr. McCole has extensive industry experience including: mergers & acquisition, software development, payment gateways, merchant acquiring, retail/restaurant mobile POS, and aisle retail omni-commerce.  Previously, as Director of Strategy and Partnerships reporting directly to the CEO of Heartland Payments, Mr. McCole was responsible for developing the restaurant management software acquisition rollup strategy for Heartland that led to Heartland's acquisition of several notable hospitality point-of-sale systems such as Xpient, Digital Dining, PC America and Dinerware, and that eventually led to the sale of Heartland to Global Payment Systems for $4.3 billion USD in 2016. Numerous other merchant acquirers, private equity firms, and large merchant services providers have successfully emulated the Heartland point-of-sale system rollup strategy.

Mr. McCole is the President of POSophist Inc., a POS and payments technology go-to-market business development and strategy advisor in the United States, Canada, and Asia.  Formerly, Mr. McCole was VP of Gateway Services for Hypercom (acquired by Verifone in the United States and Ingenico in Europe), VP of Mobile Payments for Transaction Network Services' EVP for NBS (now known as Equinox – a Brookfield company), and the founder and CEO of Atomic Software (a payment software and gateway service which was ultimately acquired by Verifone).

Mr. McCole has been an independent director on Posera's Board since January 2017.  During that time Mr. McCole has provided access to many senior industry executives in the industry in addition to guidance and support to Posera's management team in its effort to build and launch SecureTablePay in the US.  Mr. McCole was also the Board member on the Posera team that led the successful divestment of the FingerPrints business.

Mr. McCole replaces Mr. Edwin Nordholm who had been appointed Interim Chairman in May 2018. 

More information about Posera can be found on the company's website at www.posera.com or under the company's profile on SEDAR at www.sedar.com.

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the business operations, kitchen management, and payment transaction.

Posera's full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre'D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera's solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form to be filed on March 28^th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law. 

SOURCE Posera Ltd.

Kevin Mills, Chief Financial Officer, Posera Ltd., 519.434.8017, [email protected]