Toronto, Ontario – August 20, 2019 – Data Deposit Box Inc. (“Data Deposit Box ”) (CSE: DDB, OTC Pink : DDBXF, Frankfurt: 2DD), a global provider of cloud backup and recovery technology, today issued the following statement: “It’s with great sadness that we announce that Tim Jewell, Founder and Chief Executive Officer of Data Deposit Box, passed away Sunday August 18th in Toronto, Ontario. The entire Data Deposit Box family mourns this loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Tim’s family. Tim brought passion, experience and positive energy to Data Deposit Box. He was loved by all.”

In May of this year, the company announced a medical leave of absence for Tim. Siva Cherla was appointed as interim CEO during his leave.

Siva Cherla, interim CEO of Data Deposit Box, issued the following statement on behalf of the Board of Directors: “With the passing of Tim Jewell, Data Deposit Box has suffered a major loss. Notwithstanding that loss, the Board is confident that the team will continue to execute the plan put forward by Tim. The Board will continue to consider how best to maximize Data Deposit Box performance and value over the long term.”

About Data Deposit Box

Data Deposit Box is one of the world’s leading cloud backup and storage providers for IT Resellers, Managed Service Providers (MSPs), and Small and Medium Businesses (SMBs). The company’s patented technology allows SMB’s to backup and manage an unlimited number of devices (including Windows, macOS, iOS, Android, Synology and QNAP NAS) with one, easy to use app.

Since 2002, over 350,000 users and 200+ partners, in 53 countries, have trusted Data Deposit Box to bring them Protection Peace of Mind™. The company’s patented technology is backed by an industry leading Protection Guarantee™.

 

For More Information, Contact:

Siva Cherla scherla@datadepositbox.com 1-866-430-2406

 

FORWARD LOOKING STATEMENTS
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.