New Strategic Hire Provides Strong Operational Expertise
TORONTO, May 11, 2018 – Internet of Things Inc. (TSX VENTURE:ITT) (OTC:INOTF) (FRANKFURT:71T) (“IoT Inc.” or “the Company”) an IoT software and solutions provider targeting the Industrial IoT market, is pleased to announce the appointment of James Sutcliffe as President & COO. Mr. Sutcliffe will oversee operations, investee companies and work with management to expand its strategic plan to acquire and operate growth ready technology companies.
“We are very pleased to have James onboard with his strong operations experience as the company pursues acquisitions in the AI-Blockchain-IoT space,” said Michael Frank, CEO of IoT Inc.
Mr. Sutcliffe brings more than 20 years’ experience in global operational and financial leadership. Earlier in his career, he was as a key member of a management team that grew a Fortune 150 Tier 1 automotive supplier’s Asian operations ten-fold. During this time, Mr. Sutcliffe held senior corporate development, finance and executive management roles. Spearheading entry into new markets in Asia, he was instrumental in guiding start-ups and acquisitions in China, India and Korea.
Upon his return to Canada, Mr. Sutcliffe led a multi-million dollar turnaround for an electrical and digital infrastructure company. He then moved on to head up finance for the Canadian subsidiary of a US-based provider of highly engineered robotic automation solutions. Prior to joining IoT Inc., Mr. Sutcliffe was the CFO of a supplier to the global Tier 1 off-road market. He also has broad experience in managing organizations’ information systems and a passion for continuous improvement through the application of technological solutions.
Mr. Sutcliffe commented, “IoT Inc. is at a critical inflection point given its growth opportunities in Asia and North America. I am excited to leverage my relationships and operating experience as the company pursues very compelling and complimentary accretive acquisitions.”
The board of directors has approved the grant of 3,000,000 incentive stock options to Mr. Sutcliffe. The options have an exercise price of $0.07 per share and 1,500,000 will vest quarterly over a period of 18 months and the 1,500,000 balance will vest in accordance with certain performance milestones, all options carrying a term of 5 years.
Further to the Company’s news release of April 13, 2018, IoT Inc.’s application to extend the expiry date of 3,950,000 Series C Warrants was ultimately not accepted by the TSX Venture Exchange.
About Internet of Things Inc.
Internet of Things Inc. (www.iotintl.com) is an Internet of Things (IoT) software and solutions provider. The company acquires and implements strategic and disruptive technology solutions targeting the industrial IoT markets, including manufacturing, energy management, agriculture, transportation, social, cybersecurity, e-commerce and fintech. IoT Inc. has a joint venture partnership with New Hope Data Technology Co. Ltd for China. Its wholly-owned subsidiary Digital Blockware Inc. develops and provides customized, scalable blockchain solutions. The company is headquartered in Toronto, Canada.
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For further information, contact:
Internet of Things Inc.
Kim Nguyen, Director of Corporate Communications
Tel: (416) 792-9088
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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