MISSISSAUGA, ON, and FT. LAUDERDALE, FL, June 11 /CNW/ - Hostopia.com Inc. (TSX: H), is pleased to announce that its Board of Directors has appointed Michael Cytrynbaum as Chairman of the Board of Directors, effective June 8, 2007.
"We are delighted to have someone of Michael's experience as our company's Chairman. He has a very strong background in the technology sector and has demonstrated leadership in providing strategic guidance to companies," said Colin Campbell, CEO and COO of the Company.
Mr. Cytrynbaum
Michael Cytrynbaum has served as director of the Company since his appointment on August 14, 2003. In addition to being Director and Chairman of Hostopia, Mr. Cytrynbaum is President of First Fiscal Management Ltd., a private consulting company. Mr. Cytrynbaum also serves as executive chairman of Look Communications Inc., a communications service provider and Ignition Point Technologies Corp., a broadband communication provider, both publicly traded companies. In addition, he is a director of two junior resource companies, Callinan Mines Limited and Central Minera Corp., as well as being a director of Peer 1 Network Enterprises, Inc., a provider of high-performance Internet bandwidth. Mr. Cytrynbaum was a founding director of Microcell Telecommunications Inc. and remained on the board of that company for ten years. Mr. Cytrynbaum has a Bachelor of Arts and a Bachelor of Common Law from McGill University.
About Hostopia
Hostopia is a leading provider of web services that enable small and medium-sized businesses to establish and maintain an Internet presence. The company's customers are communication services providers, including telecommunication carriers, cable companies, internet service providers, domain registrars, and web hosting service providers. Hostopia's customers purchase their web services on a wholesale basis and resell these services under their own brands to small- and medium-sized businesses. The company provides customers with the technology, infrastructure, and support services to enable them to offer web services, while saving them research and development as well as capital and operating costs typically associated with the design, development, and delivery of web services.
Forward-Looking Information
This press release includes certain "forward-looking statements" and forward-looking information that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. These forward-looking statements and forward-looking information include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. Our actual results could differ materially from those anticipated in these forward-looking statements and forward-looking information upon completion of the review of our year end results by our independent registered public accounting firm. These statements are based on our current beliefs or expectations and there are a number of important factors that could cause the actual results or outcomes to differ materially from those indicated by these forward-looking statements, including without limitation, our ability to maintain our sales efficiency, our ability to maintain our existing, and develop new, strategic relationships, the number of our net subscriber additions, our monthly customer turnover and our ability to successfully integrate recently acquired businesses and operations and those risks set forth or referenced under the caption "Risk Factors" in Hostopia's Quarterly Report on Form 10-Q for the quarter ended December 31, 2006, as filed with the Securities and Exchange Commission. These filings are available on a website maintained by the Securities and Exchange Commission at www.sec.gov and on our corporate website www.hostopia.com under Investor Relations.
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