SATO Technologies Announces Randal S. Milch, Former Verizon General Counsel and NYU Center for Cybersecurity Co-Chair, as New Board Member, Strengthening Position in US Financial Markets

Rhea-AI Summary

SATO Technologies Corp. appoints Randal S. Milch as an independent director to its Board of Directors. Total number of board members increased to six. Milch's experience in leadership roles at Verizon and the NYU Center for Cybersecurity will guide SATO's strategic approach to the US financial markets. Stock options granted to purchase 30,000 common shares at CAD$0.38 per share for 5 years.

Toronto, Ontario--(Newsfile Corp. - September 27, 2023) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a publicly listed company building proprietary infrastructures designed to provide efficient computing power tailored for Digital Asset Mining (Bitcoin), High-Performance Computing (HPC), and Artificial Intelligence (AI), is pleased to announce the appointment of Randal S. Milch, an independent director, to its Board of Directors. After this appointment, the total number of board members is increased to six.

Randal Milch is the Co-Chair of the NYU Center for Cybersecurity, a Professor of Practice at NYU School of Law, and the Faculty Co-Director of the MS in Cybersecurity Risk and Strategy Program. Prior to coming to NYU, Milch was the General Counsel and head of public policy at Verizon Communications. At Verizon, Milch chaired the Verizon Executive Security Council, which oversaw information security across all Verizon entities. Milch was responsible for national security matters at Verizon beginning in 2006 and served as the senior cleared executive at Verizon. Milch is a member of the boards of The Analysis Group, Inc. and RiskQ, Inc.

"We are thrilled to welcome Randal Milch to our Board of Directors. His experience and expertise, gleaned from leadership roles at Verizon and the NYU Center for Cybersecurity, will be instrumental in guiding our strategic approach to the US financial markets. This appointment reaffirms our commitment to fostering innovation, building the digital infrastructures of the future, and ensuring robust governance in a rapidly evolving landscape." said Romain Nouzareth, CEO & Co-founder of SATO.

"I'm honored to join SATO's Board of Directors,'' added Randal S. Milch, ''and to assist in building SATO's bright future.''

The Company also announces that it has granted stock options to purchase an aggregate of 30,000 common shares to directors and employees pursuant to the Company's Amended and Restated Stock Option Plan. The Options are exercisable into common shares of the Company at a price of CAD$0.38 per share for a period of 5 years.

About SATO

SATO, founded in 2017, is a publicly listed company positioned for ongoing success in deploying computing power for Bitcoin Mining, High-Performance Computing ("HPC"), and Artificial Intelligence ("AI"), via proprietary infrastructures designed to provide efficient computing power tailored for the digital ecosystem. Listed on (TSXV: SATO) (OTCQB: CCPUF) since 2021, the Company prides itself on outstanding performance, financial stability, and a top-tier team. Around 65% of securities (on a fully diluted basis) are owned by Officers, Directors, Insiders, and Shareholders above 7% with long-term vision. To learn more about SATO's distinct vision, and ambitious goals and meet the team, visit www.bysato.com.

For additional information, please contact:

Romain Nouzareth
invest@bysato.com

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Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182054