Symbility Solutions Inc.

Symbility Solutions Inc.

July 31, 2014 08:00 ET

New Board Member to Join Symbility Solutions

TORONTO, ONTARIO--(Marketwired - July 31, 2014) - Symbility Solutions Inc.® (TSX VENTURE:SY), provider of cloud-based and smartphone/tablet-enabled claims technology using the most comprehensive data for the property and casualty insurance industry, is pleased to announce the pending appointment of Olumide Soroye to its Board of Directors.

Mr. Soroye is currently the managing director for the Information Solutions business of CoreLogic which encompasses solutions that support real estate, capital markets, and mortgage risk and analytics. Mr. Soroye previously held dual roles as general manager of both B2B Technology and Home Services divisions at QuinStreet. Earlier in his career, Mr. Soroye was a partner at McKinsey & Company, working with several of the world's leading corporations in the technology, media and telecommunications sectors. Mr. Soroye holds an undergraduate degree from Obafemi Awolowo University in Nigeria and an MBA from Harvard Business School where he was recognized as a Baker Scholar.

"It is an honor to welcome Mr. Soroye to the Board of Directors at Symbility Solutions," commented G. Scott Paterson, Chairman, Symbility Solutions. "His longstanding experience in the technology sector accrued at world-renowned companies and consultancies will prove to be a great contribution for Symbility Solutions. We look forward to his guidance and counsel in the near future."

Symbility Solutions announces the resignation of CoreLogic's Chris Jutkiewicz from the Board of Directors. The management and board thank Mr. Jutkiewicz for his service as a Director and wish him success in his future endeavors.

The Corporation also announced today its intent to satisfy its obligation to pay independent director fees for the period April 1, 2014 to June 30, 2014 by issuing shares, pending approval from the TSX Venture Exchange. The Corporation will issue 110,480 Common Shares with a deemed value of $0.3021 per share (for an aggregate value of $33,381) to the independent directors of the Corporation for services provided. Such aggregate value is the aggregate net amount owing to the independent directors after making all statutorily required source deductions.

About Symbility Solutions Inc.

Symbility Solutions® (TSX VENTURE:SY) is a global provider of cloud-based and smartphone/tablet-enabled claims technology for the property and health insurance industries. Designed to be flexible and easy-to-use, Symbility Solutions' two product suites, Symbility Property™ and Symbility Health™, empower insurers to collaborate across the entire claims processing workflow and reduce costs while delivering a market-leading claims experience. For more information please visit or follow Symbility on Twitter at @symbility and on LinkedIn at symbility-solutions.

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