Poynt Corporation

Poynt Corporation

November 03, 2011 06:00 ET

Poynt Corp. Appoints Veteran Software Executive Yves Millette as President

CALGARY, ALBERTA--(Marketwire - Nov. 3, 2011) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, today announced the appointment of Yves Millette to the role of President in order to further strengthen the Company's management team. In addition, role changes to the Board of Directors along with key executive additions have been made to foster strong revenue growth.

Mr. Millette has a successful track record for achieving revenue and earnings growth and brings international software and hardware experience, along with the ability to deliver operational results to Poynt Corp. In his previous role as President and CEO of Intuit, Mr. Millette led the company's international operations where he grew revenues from $65 to $160 million. At Poynt Corp., Mr. Millette will focus on accelerating the Company's monetization strategy and add overall operational rigour to the management team.

With the addition of Mr. Millette to oversee day-to-day operations, Andrew Osis, Chief Executive Officer, will actively focus on expanding and marketing Poynt Corp. to the global investment community as a premier mobile local search and advertising platform. Mr. Osis will represent the key vision and strategy of the Company to the world. In addition, Mr. Osis will continue to shape and oversee the strategic direction of the Company.

Craig Bentham was appointed to Chairman of the Board of Directors at the Annual General and Special Meeting on October 6, 2011, having served as a member of the Board since 2006. Mr. Bentham is a lawyer specializing in financing and commercial transactions. Most recently, he was the Director of Corporate Development for Pinnacle Private Capital Corporation. Mr. Bentham has also worked with the law firms McLennan Ross LLP and was a partner with the law firm of Dean Duckett Amelio.

In addition, Lawrence Lee has been appointed as Chief Financial Officer. Mr. Lee has extensive accounting experience with businesses ranging from high-tech, oil and gas to real estate. Marco Hunstad has joined Poynt Corp. to direct the Business Development team as Senior Vice President, Business Development and Global Distribution. Mr. Hunstad and Mr. Lee's international executive experience in both publicly traded and private business will positively contribute to the Poynt Corp. executive team.

Additionally, Cassy Weber has been promoted to the position of Senior Vice President, Monetization. Ms. Weber has over 15 years' experience in location based services and new product introduction with both start-up and established businesses. Brad Murray has been promoted to the role of Senior Vice President, Technology and Margaret Glover-Campbell has been promoted to Senior Vice President, Marketing and External Communications. Both Mr. Murray and Ms. Glover-Campbell have over ten years' experience in location-based services and have been instrumental in Poynt Corp's growth to date. Their extensive knowledge of the Company will help them continue to contribute to the expansive growth.

Jeff Davison has been promoted to the role of Vice President, Marketing and Communications. In addition, Mr. Davison will be responsible for the Company's newly formed Investor Relations group. Mr. Davison has a diverse background in marketing and communications having previously held positions with oil and gas and entertainment companies. Wilco Oudijk has been promoted to Vice President, Product Management. Mr. Oudijk previously held positions with technology start-ups, advertising agencies and manufacturers in the Netherlands and Canada and has over 10 years of product management experience.

"The changes to management reflect our immense growth and the need to expand our team to maintain that growth," said Andrew Osis, CEO. "I have always emphasized the need for a strong, creative and effective team. I am confident that the team we have assembled both through internal promotions and external searches will allow Poynt Corp. to continue to grow our revenue stream."

About the Poynt Platform

Poynt is a convenient and timesaving GPS-enabled mobile local search and advertising platform that connects consumers to local offers, businesses, events, restaurants, movie theatres, gas prices and weather information at the moment they are looking to buy or acquire products or services. Poynt provides consumers with the ability to move beyond discovery of their local area to view movie trailers and reviews, buy movie tickets, click-to-call businesses, get directions, browse listing websites, read reviews and book dining reservations or find and interact with local coupons and offers.

Poynt provides contextual and relevant advertising to users performing local queries and its revenue model is based on user queries, page views, advertising and transactions within the platform. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by advertisers. These advertising placements generate revenues on a cost per thousand impressions (CPM) basis or on a cost per click (CPC) basis. Transactions, such as ticket sales and restaurant reservations, also contribute to revenues on a fee for service basis.

Poynt is available as a free download for users in India, Canada, the United States, the United Kingdom, Germany, France, Italy, Spain and Australia on Android, iPhone, Windows Phone and Nokia devices, BlackBerry smartphones and BlackBerry Playbook tablet from the respective App Stores. Poynt is also available via Over the Air download at m.poynt.com.

About Poynt Corporation

Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

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 release.

Important Cautions Regarding Forward-looking Statements

This news release contains forward-looking statements relating to: Poynt Corp.'s ability to continue to grow revenue and other statements that are not historical facts. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: future technological developments; the cost of expanding product lines; the impact of increasing competition; the continuity of existing business relationships; the continued successful development, implementation and execution of the Poynt Application; continued growth in number of active users of the App; conditions in general economic and financial markets; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; and our ability to obtain financing on acceptable terms. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of the Company's brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate additional preload agreements; risk that the App may not be included in Q4 media buy budgets; reliance on distribution channels; product concentration; need to develop new and enhanced products; failure to obtain necessary regulatory approvals; potential product defects; our ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; and the risks described under "risk factors" in our Annual Information Form for the year ended December 31, 2010 which is available on our SEDAR profile (www.sedar.com).

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the forward-looking statements identified above.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries. Android is a registered trademark of Google Inc. Nokia is a registered trademark of Nokia Corporation.

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 release.

Contact Information

  • Company Contact:
    Poynt Corporation
    Andrew Osis

    North American Public Relations Contact:
    FortyThree PR, Inc.
    Evie Carter

    European Media Communications Contact:
    CC-Group Communications Ltd., for Poynt Corporation
    Nicole Littlewood or Howard Jones
    +44 118 920 7650

    Investor Relations Contact:
    Liolios Group, Inc.
    Scott Liolios or Matt Glover