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DATA Group Ltd. Announces the Retention of Michael G. Sifton as CEO; Changes to its Board of Directors; and Completion of a Common Share Private Placement
DATA Group Ltd. Announces the Retention of Michael G. Sifton as CEO; Changes to its Board ...
About this update from Data Communications Management Corp.
[{"type":"text","content":"\n\n\n\nDATA Group Ltd. Announces the Retention of Michael G. Sifton as CEO; Changes to its Board of Directors; and Completion of a Common Share Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nDATA Group Ltd. Announces the Retention of Michael G. Sifton as CEO; Changes to its Board of Directors; and Completion of a Common Share Private Placement\nCanada NewsWire\nBRAMPTON, ON, June 1, 2016\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/\n\n\n\nBRAMPTON, ON, June 1, 2016 /CNW/ - DATA Group Ltd. (TSX: DGI) (\"DATA\" or the \"Company\") today provided an update regarding its senior leadership, changes to its board of directors (the \"Board\"), and its previously announced private placement of common shares (\"Common Shares\") of the Company.\n\nSenior Leadership\n\nDATA is pleased to announce that Michael G. Sifton will continue in his role as the Company's President and Chief Executive Officer. \n\nBoard of Directors\n\nThe Company is also pleased to announce that Mr. Sifton has re-joined the Board, J.R Kingsley Ward has been appointed Chair of the Board and Gregory Cochrane has been appointed as a director of the Company.  Mr. Cochrane is a Managing Partner at VRG Capital Corp. and has an extensive background in the marketing services and print management industries, together with more than 40 years of experience investing in, and holding senior leadership and governorship roles of, public and private growth companies and not-for-profit entities.  The Company also announced that Harinder Takhar has resigned as a director of DATA effective immediately.  The Company wishes to thank Mr. Takhar for his service to DATA.\n\nCommon Share Private Placement to Michael Sifton and Other Investors\n\nThe Company also announced that it has raised $2.35 million pursuant to its previously announced private placement of Common Shares (the \"Offering\").  Under the Offering, the Company issued a total of 167,856,012 Common Shares at a price of $0.014 per share (the \"Issue Pric...