> TeraGo Announces Election of Directors

TeraGo Announces Election of Directors

Toronto – June 15, 2022 – TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), announced that the nominees listed in the management information circular for the Company’s 2022 Annual and Special Meeting of Shareholders (the “Meeting”) were each either elected or re-elected as directors of TeraGo. Following the Meeting, the Company’s board composition remained at seven total directors, six of whom are independent.

TeraGo welcomed its newly elected member, Mr. Pietro Cordova, to the board of directors. Mr. Cordova brings over two decades of executive leadership experience within financial and managerial roles. He currently serves as Operating Partner at Ficom Leisure, a boutique advisory firm providing corporate, financial and business advisory services focusing on strategic planning, organic and M&A driven growth, management/generational changes, capital structure optimization and restructuring. Previously, Mr. Cordova was the former CEO and board member of both Wind Mobile in Canada, now called Freedom Mobile, and Veon Wholesale Services, a telco company with approximately EUR 1 billion revenues, providing centralized provisioning, commercial, technology and value-added services for the 14 OpCos of the Veon Group worldwide. He was also the Deputy CFO for Wind in Italy, a leading, EUR 6 billion revenue telco operator with over 35 million wireline and wireless customers.

Mr. Cordova holds a University Degree in Business Administration and Finance from “La Sapienza” University, Rome.

“On behalf of the entire TeraGo leadership team, I’d like to welcome Pietro to our board,” said TeraGo CEO Matthew Gerber. “Pietro has an impressive and relevant background having worked at several wireless communications companies, and his addition brings to our organization a wealth of financial and managerial experience that is pertinent and directly applicable to where we are today. Pietro’s proven ability in growing and streamlining companies operating in highly regulated and competitive environments will be a significant value add to our board of directors.”

The Company also announced that Mr. Michael Martin has stepped down from the board of directors after serving a nine-year term.

Mr. Gerber added: “I also want to thank Michael for his near decade long service as a board member. His dedication, prudent guidance, technical expertise and commitment has contributed to the success we’ve achieved here so far at TeraGo. We wish him the best of luck in his future endeavors.”

Detailed results of the ballot voting for the election of directors held today on June 15, 2022, as well as the other matters voted on at the virtual Meeting are as follows:

Brief Description of Matter Voted Upon Outcome of Vote For Against
1) In respect of fixing of the number of directors of the Company at seven (7);



(99.87 %)



2) In respect of the election of directors to hold office until the close of the next annual meeting of Shareholders or until their successors are elected or appointed:



Kenneth Campbell



(99.80 %)



Matthew Gerber






Gary Sherlock



(98.48 %)



Laurel Buckner



(99.75 %)



Richard Brekka



(62.99 %)


(37.01 %)

Martin Pinnes



(65.93 %)


(34.07 %)

Pietro Cordova



(99.80 %)



3) In respect of the re-appointment of KPMG LLP, Chartered Accountants as auditors of the Company to hold office until the next annual meeting of Shareholders and authorizing the directors to fix their remuneration.



(99.87 %)





4) In respect of the resolution for Approval of Amendment to the Articles of Incorporation and Share Structure.



(99.80 %)


(0.20 %)

A report of voting results for each resolution presented at the Meeting prepared in accordance with National Instrument 51-102 – Continuous Disclosure Obligations has been filed on www.sedar.com.

About TeraGo

TeraGo provides wireless connectivity and private 5G wireless networking services to businesses operating across Canada. The Company holds 2120 MHz of exclusive spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which  it utilizes to provide secure and reliable enterprise grade networking and connectivity services. TeraGo serves over 1,800 Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TeraGo, please visit www.terago.ca.

For further information, please contact:

TeraGo Investor Relations

Matt Glover and John Yi, Gateway Group, Inc.

Telephone: 949-574-3860

Email: TGO@gatewayir.com

Forward-Looking Statements

This news release includes certain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond TeraGo’s control. Forward-looking statements may include but are not limited to statements regarding the further developing our 5G Fixed Wireless Access program, consistently executing across all fronts of the business, success in providing Canadian enterprises with managed services and the 5G fixed wireless trials being conducted by the Company. All such statements constitute “forward-looking information” as defined under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts constitute forward-looking information. The forward-looking statements reflect the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those risks set forth in the “Risk Factors” sections in the annual MD&A of the Company for the quarter ended March 31, 2022 available on www.sedar.com under the Company’s corporate profile. Factors that could cause actual results or events to differ materially include the inability to consistently achieve sales growth across all lines of TeraGo’s business including managed services, inability to complete successful 5G technical trials, the impacts and restrictions caused by the COVID-19 pandemic are prolonged which may further delay customer trials and/or cause a negative impact on future financial results of the Company, TeraGo’s Pandemic Response Plan may not mitigate all impacts of COVID-19, the results of the 5G trials not being satisfactory to TeraGo or any of its technology partners, regulatory requirements may delay or inhibit the trial, the economic viability of any potential services that may result from the trial, the ability for TeraGo to further finance and support any new market opportunities that may present itself, and industry competitors who may have superior technology or are quicker to take advantage of 5G technology. Accordingly, readers should not place undue reliance on forward-looking statements as several factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TeraGo does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.