TORONTO, May 1, 2019 (GLOBE NEWSWIRE) — Data Deposit Box Inc. (“Data Deposit Box” or the “Company”) (CSE: DDB, OTCQB: DDBXF, Frankfurt: 2DD) announces today that Mr. Tim Jewell, Chief Executive Officer, will take a medical leave of absence, effective May 1, 2019, and that Mr. Siva Cherla, current Chief Financial Officer, has been appointed interim Chief Executive Officer.
The Board of Directors would like to wish Mr. Jewell a speedy recovery and have the utmost confidence in Mr. Cherla. The Company is also currently looking to bolster its management team during this period.
ABOUT DATA DEPOSIT BOX:
Providing advanced, cloud-based data back-up since 2002, Data Deposit Box is one of the world’s first and foremost data backup, protection and recovery providers for Managed Service Providers (MSPs), as well as Small and Medium Businesses (SMBs). Data Deposit Box offers full white labeling for larger MSPs. Based in Toronto, Canada, Data Deposit Box is trusted by over 5,000 MSPs, SMBs and personal end-users world-wide to make data back up as simple and smart as possible. Our recently introduced Secure Email Archiving has great potential in the larger Enterprise market as well as in our existing market. Data Deposit Box has refactored components of its existing cloud platform to develop products for the Blockchain industry.
LiveLink Web, patented web based remote device management software that does not require a Virtual Private Network (VPN), is being released in Q1 of 2018. The applications for this product cross many OEM markets such as Network Attached Storage (NAS), printers, routers, firewalls, etc. Applications also exist for the Internet of Things (IOT) which involves products for the Consumer, Business and Public markets.
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This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.