TAAL Names Chris Naprawa as President, Announces Revisions And Additions To Its Executive Team

Rhea-AI Summary

TAAL Distributed Information Technologies has appointed Chris Naprawa as President and Stefan Matthews as CEO, effective October 12, 2020. Naprawa brings extensive experience from Khiron Life Sciences, where he raised over $80 million. Matthews will lead the company from Zug, Switzerland, focused on enhancing TAAL's blockchain services. Jerry Chan has been named Chief Product Officer, tasked with driving TAAL's product vision on the Bitcoin SV platform. The company aims to develop scalable blockchain solutions for enterprise clients.

Positive

• Chris Naprawa's appointment as President brings extensive capital markets experience.
• Stefan Matthews relocating to Switzerland signifies focused leadership for company expansion.
• Jerry Chan's promotion is expected to enhance product development and commercial capabilities.

Negative

• None.

VANCOUVER, BC, Oct. 13, 2020 /PRNewswire/ - TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) ("TAAL" or the "Company") a vertically integrated, blockchain infrastructure and service provider, today announced the recruitment of Mr. Chris Naprawa as President of the Company.  In addition, Mr. Stefan Matthews, the Chairman of the board of directors of the Company, has taken on the position of Chief Executive Officer effective October 12, 2020.  In his new role as Executive Chairman and Chief Executive Officer, Mr. Matthews will relocate and work from the Zug, Switzerland offices of the Company, oversee the building of the Swiss team, and lead TAAL through its next stage of development.  Mr. Jerry Chan has become Chief Product Officer, where he will leverage his deep understanding of BSV, the original Bitcoin, to drive the product vision of TAAL, strengthening TAAL's commercial capabilities.

Mr. Naprawa joined the Company in the role of President commencing on October 12, 2020.  He  brings extensive institutional capital markets and start-up technology experience to the Company.  Mr. Naprawa is currently Chairman of Khiron Life Sciences Corp. (TSXV:KHRN).  He was President of Khiron for the two years prior where he led the company through raising over $80 million in equity financings.  

Before Khiron, he was a Partner at Sprott Capital Partners, Managing Director at Primary Capital, Head of Equity Sales and Trading at Dundee Securities, and Head of Equity Sales at Macquarie Canada.  Mr. Naprawa was also founder and CEO of STARTcast Solutions, a software company successfully sold to a large Canadian telecommunications company after 2 years of operations.  Mr. Naprawa holds a Bachelor of Arts from Queen's University and lives in Toronto, Canada. Mr. Naprawa will be using his extensive experience to manage the Company's finance function, including investor relations and capital markets strategy.

Mr. Matthews commented, "TAAL is a pioneer, working with BitCoin SV.  We have the capability to transform not only businesses and industries, but to innovate and disrupt and to create new industries and businesses. TAAL is building the transaction processing and indexing infrastructure for the data driven economy. We help all data to have a value."

"At the core of our success will be our ability to interpret the technology and science of the BSV blockchain to create products and business services, responding to the needs of our clients to supply enterprise grade solutions and services.  This will require relentless focus."

"Let me state, in my opinion Jerry Chan is without peer in his ability to understand the science and technology of BSV and to translate that into a product vision.  Jerry is going to focus and drive the product vision of TAAL, strengthening our capabilities, in a period where this is critical to establishing and cementing our leadership position."

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute "forward-looking information" as defined under applicable Canadian securities legislation. The words "will", "intends", "expects" and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes, but is not limited to statements regarding: the expansion and staffing of TAAL's office in Zug, Switzerland, the timing of appointments and changes in duties. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in Item 20 Risk Factors of TAAL's Form 2A – Listing Statement dated July 31, 2018 and elsewhere in TAAL's continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

View original content to download multimedia:http://www.prnewswire.com/news-releases/taal-names-chris-naprawa-as-president-announces-revisions-and-additions-to-its-executive-team-301151106.html

SOURCE Taal Distributed Information Technologies Inc.

FAQ

Who is the new President of TAAL Distributed Information Technologies?

Chris Naprawa has been appointed as the new President of TAAL, effective October 12, 2020.

What recent changes occurred in TAAL's executive team?

Stefan Matthews has become CEO, while Chris Naprawa is now President, and Jerry Chan is Chief Product Officer.

What is the significance of Stefan Matthews moving to Zug, Switzerland?

Matthews will oversee the company's expansion and development from its Swiss office.

What experience does Chris Naprawa bring to TAAL?

Naprawa has extensive experience in capital markets and led Khiron Life Sciences through significant fundraising.

How does TAAL plan to enhance its blockchain services?

With the new executive team, TAAL aims to develop enterprise-grade solutions leveraging the Bitcoin SV platform.