SOURCE: Symbility Solutions Inc.

Symbility Solutions Inc.

June 11, 2015 08:00 ET

Symbility Solutions Announces Voting Results of the Annual and Special Meeting of Shareholders; Welcomes Michael Torok to the Board of Directors

TORONTO, ON--(Marketwired - June 11, 2015) - Symbility Solutions Inc. (the "Corporation"), (TSX VENTURE: SY), a global software company dedicated to developing applications for the insurance industry, announces the voting results of the Annual and Special Meeting of Shareholders of the Corporation that was held June 10, 2015 (the "Meeting"). The Corporation hereby advises of the following resolutions were passed at the Meeting:

  • The election of the following people, being nominees proposed by the management of the Corporation, as directors of the Corporation: James L. Balas, R. Larry Binnion, Richard Hurwitz, Robert Landry, G. Scott Paterson, Tony Reisz, Olumide Soroye, James R. Swayze and Michael P. Torok.
  • The reappointment of Ernst & Young LLP, Chartered Accountants, as auditors of the Corporation for the ensuing year and the authorization of the directors to fix their remuneration.
  • The approval in the form included in the Information Circular ratifying the Corporation's amended and restated stock option plan.
  • The approval in the form included in the Information Circular ratifying the Corporation's 2015 Restricted Share Award Plan.

Symbility Solutions is pleased to announce the election of Michael P. Torok to its Board of Directors. Mr. Torok is the co-founder and managing director of JEC Capital Partners, LLC, a technology-focused investment company with offices in the United States and Germany. He was previously the CFO of Integrated Dynamics Engineering (IDE) which successfully leveraged its core technology to grow rapidly before being acquired by Aalberts Industries in 2008. Prior to Integrated Dynamics Engineering, Mr. Torok held various positions at PricewaterhouseCoopers, LLP. Mr. Torok holds a bachelor's degree in business and a master's degree in finance from Boston College.

"We are honored to welcome Mr. Torok to the Board of Directors at Symbility," commented G. Scott Paterson, Chairman, Symbility Solutions. "Symbility Solutions will benefit from Mr. Torok's guidance based on his experience in the technology and investment industries and we look forward to his counsel."

Symbility Solutions announces the retirement of Robert W. Tretiak, President of Virtual Equipment Solutions LLC (Canada), from the Board of Directors. The management and board thank Mr. Tretiak for his service as a Director and wish him success in his future endeavors.

After conducting the business of the Annual and Special Shareholders Meeting, James Swayze, Chief Executive Officer, delivered an update on the Corporation. A copy of this presentation can be found on Symbility's corporate website at symbilitysolutions.com/en/investors/.

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 www.symbilitysolutions.com or follow Symbility on Twitter at @symbility and on LinkedIn at symbility-solutions.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Symbility Solutions Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Symbility Solutions Inc.

Neither 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.

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