Contact Information: Company Contact: Marcia Appel (952)890-2362 (office) (612)991-3503 (mobile) info@digitaltown.com
DigitalTown Names John Witham as New Executive Vice President/CFO
| Source: DigitalTown, Inc.
MINNEAPOLIS, MN--(Marketwire - September 16, 2008) - The board of directors of DigitalTown, Inc.
(OTCBB : DGTW ) today named John A. Witham, a 20-plus-year veteran of
effective corporate financial leadership and capital raises, to the new
position of executive vice president and chief financial officer. Acting
CFO Paul Gramstad has been appointed controller of DigitalTown and will
report to Witham.
The new financial team reflects DigitalTown's maturation as its Los
Angeles-based advisory board moves forward to build out its 27,000 local
online communities tied to the heart of all cities and towns -- their high
schools.
Witham most recently served as EVP and CFO of Wireless Ronin Technology,
Minneapolis, where he helped complete its 2006 IPO for $18 million and a
2007 follow-up offering for $27 million. From 2002 to 2004 Witham held
similar positions at Metris Companies, the Minneapolis-based consumer
credit-card issuer. He successfully led Metris through a restructuring
effort by planning and completing a package of loans, sales of receivables
and one of the company's ancillary businesses and other structured
financing. Among his other corporate achievements: Witham assisted the
listing of Bracknell Corp., a Canadian company, to complete its listing on
NASDAQ and raised public financing for and completed the listing of Arcadia
Financial LTD., a Bloomington, Minn., company, on the NYSE.
Witham's full biography, whose high school alma mater carries the
DigitalTown domain www.edinahornets.com, can be found at
www.digitaltown.com.
According to Witham, DigitalTown presents the opportunity to launch one of
the largest locally based social networks in the country. "The companies
27,000 local online communities represent enormous potential to integrate
the grassroots with national outreach and networking. This integration
will deliver new opportunities to students, their schools and communities
and to our partners serving them."
Richard A. Pomije, founder and chairman, said of Witham, "With John's
experience and leadership DigitalTown has an able captain to lead our team
through this time of rapid growth."
About DigitalTown
DigitalTown, Inc., based in Burnsville, Minn., is developing a nationwide
network of more than 27,000 local online communities for high school
students, alumni, boosters and local citizens.
Safe Harbor Language
Any statements contained here-in related to future events are
forward-looking statements and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act 1995. Readers
are cautioned not to place undue reliance on forward-looking statements.
DigitalTown, Inc., undertakes no obligation to update any such statements
to reflect actual events. For more information, please visit
www.digitaltown.com.