TORONTO, Nov. 29,
2023 /CNW/ - Pluribus Technologies
Corp. ("Pluribus" or the "Company") (TSXV: PLRB)
announced that its Board of Directors has formed a special
committee of independent directors (the "Special Committee")
to undertake (in consultation with the Company's financial, capital
markets and legal advisors) a review and evaluation of strategic
alternatives that may be available to the Company to further
enhance the Company's growth, development and prosperity in the
short and long terms with the goal of maximizing
shareholder value. The Special Committee
will be chaired by Bill Kostenko and includes
Jim Dunbar and Warner Sulz and has appointed Canaccord Genuity
Corp. as its financial advisor to support the Special Committee in
the strategic review process.
The strategic review process will encompass an evaluation of the
Company's current strategic direction, operations, market valuation
and capital structure and will consider appropriate strategic,
business and financial alternatives for the Company which may
include, among other things, a corporate sale, a merger or other
business combination, a sale of all or a portion of the company's
assets, strategic investment or continuation as a standalone public
company.
"Our management team and the Board are completely aligned on the
decision to explore strategic alternatives to maximize shareholder
value," said Richard Adair, the
Company's Chief Executive Officer and Director.
The Board has not set a timetable to complete the strategic
review process nor have any decisions been made relating to
strategic alternatives at this time. There can be no assurance that
the review process will result in a transaction. Pluribus will
provide updates when further information becomes available.
While the review process is ongoing, Pluribus' management
remains committed to executing the Company's strategy and business
plan with the full support of the Board.
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:
www.pluribustechnologies.com.
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of applicable Canadian securities laws, which reflect
the current expectations of management of the Company's future
growth, results of operations, performance and business prospects
and opportunities. Forward-looking statements are frequently, but
not always, identified by words such as "may", "would", "could",
"will", "anticipate", "believe", "plan", "expect", "intend",
"estimate", "potential for" and similar expressions, although these
words may not be present in all forward-looking statements.
Forward-looking statements in this press release includes, but is
not limited to: statements regarding the Company's strategic review
process and the potential outcome thereof; approval of any
transactions resulting of the strategic review process; the
possible impact of any potential transactions referenced herein on
the Company's shareholders and any potential future arrangements
and engagements in regards to any such potential transactions;
possibility of improved future market conditions; 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 software
companies at reasonable prices; and the Company's ability to grow
its portfolio companies into significant organizations.
These forward-looking statements reflect management's current
beliefs with respect to future events and are based on information
currently available to management that, while considered reasonable
by management as of the date on which the statements are made, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies which could result in
actions, events, conditions, results, performance or achievements
to be materially different from those projected in the
forward-looking statements. Forward-looking statements involve
significant risks, uncertainties and assumptions and many factors
could cause the Company's actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements. Such factors and assumptions
include, but are not limited to, the Company's ability to retain
key personnel; its ability to execute on its business plans and
strategies; and the sufficiency of its working capital to continue
to fund its operations during its strategic review process. Should
one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove
incorrect, actual results, performance, or achievements may vary
materially from those expressed or implied by the forward-looking
statements contained in this news release. These factors should be
considered carefully, and prospective investors should not place
undue reliance on the forward-looking statements.
Although the forward-looking statements contained in the news
release are based upon what management currently believes to be
reasonable assumptions and the Company has attempted to identify
important factors that could cause actual actions, events,
conditions, results, performance or achievements to differ
materially from those described in forward-looking statements, the
Company cannot assure prospective investors that actual results,
performance or achievements will be consistent with these
forward-looking statements. Except as required by law, the Company
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. Accordingly, investors
should not place undue reliance on forward-looking statements. All
the forward-looking statements are expressly qualified by the
foregoing cautionary statements.
Neither the 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 press release.
Contact:
Richard
Adair
Chief Executive Officer
Pluribus Technologies Corp.
Phone: 1 (800) 851-9383
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SOURCE Pluribus Technologies Corp.