Pluribus Technologies Corp. Appoints Bill Kostenko to Board of Directors

TORONTO, Oct. 6, 2023 /PRNewswire/ - Pluribus Technologies Corp. ("Pluribus" or the "Company") (TSXV: PLRB) today announced the appointment of Bill Kostenko as an independent director to its board of directors (the "Board") and the resignation of Elmer Kim due to personal reasons. Mr. Kostenko, who previously served as chairman at Pluribus when it was founded, will now resume as the chair of the board, replacing Mr. Kim.

With over 30 years of experience in investment, advisory, and operational roles across multiple industries, Mr. Kostenko's focus of his professional career has evolved to collaborating with expert teams to lead investments and oversee company acquisitions and growth in the US and Canada.

Having held esteemed positions such as CFO and CEO in prominent companies, Mr. Bill Kostenko has garnered extensive experience and expertise. Today, his central focus remains to identify exceptional companies and teams to collaborate with, driving the development and sustainability of long-term, thriving businesses.

Mr. Richard Adair, Chief Executive Officer and Director, commented "We are thrilled to welcome back Bill Kostenko to our Board. His experience and expertise, gleaned from leadership roles at Kinperium Industries and Beringer Capital, will be instrumental in guiding our strategic approach." He continued, "We also want to thank Elmer for his contributions to the Board over the last 3 years. We have been the benefactor of Elmer's passion for Pluribus."

Mr. Bill Kostenko commented "I am thrilled to be joining Pluribus' Board at this incredibly exciting time in the Company's development. I have worked with Richard in the past, achieving notable successes together. I look forward to collaborating with the Board and management as the Company advances its strategic growth plans."

Mr. Elmer Kim commented "During my tenure as a director, I have enjoyed working with the management team at Pluribus to grow its business both through acquisitions and organically. As I step away to pursue other opportunities, I remain a supporter and believer of the Company and will continue to wish for Pluribus' continued success."

Pluribus is a technology company that is a value-based acquirer of small, profitable business-to-business technology companies in a range of verticals and industries. Pluribus provides its acquisitions access to experienced sales and marketing resources, strategic partnership opportunities, a diverse portfolio of customers in different geographical markets and enabling technologies to create new revenue streams and provide the opportunity for these companies to grow in their respective markets. For more information, please visit: pluribustechnologies.com.

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements with respect to the business plans of the Company, including the successful completion and pace of future acquisitions, the Company management's expectation on the growth, profitability, and performance of its current and future acquisitions, the Company's ability to continue acquiring business-to-business technology companies at reasonable prices and the Company's ability to grow its portfolio companies into significant organizations. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expect," "potential," "believe," and "intend" or negatives of these terms and similar expressions.

Forward-looking statements are based on certain assumptions, including the Company's ability to complete acquisitions on favourable terms, the Company's ability to manage a complex portfolio of companies effectively, the Company's ability to scale its management team to support a rapid pace of growth; the Company's ability to raise sufficient financing to continue the pace of its acquisition strategy; and the Company's ability to maintain its rapid pace of growth. Other assumptions include industry trends, the availability of growth opportunities, and general business, economic, competitive, political, regulatory, and social uncertainties that will not prevent the Company from conducting its business. While the Company considers these assumptions reasonable based on currently available information, they are inherently subject to significant business, economic, and competitive uncertainties and contingencies and may prove incorrect. Forward-looking information speaks only to such assumptions as of the date of this release.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, including the COVID-19 pandemic, adverse industry events, marketing costs loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the Company's limited operating history, ability to complete favourable acquisitions, the technology industry in Canada and internationally, income tax and regulatory matters, the ability of the Company to execute its business strategies, including the ability manage a complex portfolio of companies effectively, competition, currency and interest rate fluctuations, and other risks.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to rely on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Although considered reasonable by management during preparation, such information may prove incorrect, and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events, or otherwise. This cautionary statement expressly qualifies forward-looking statements in this news release.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

For Further Information, Contact:

Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
Phone: 1 (800) 851-9383

SOURCE Pluribus Technologies Corp.