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SpatialNews Press Release
SoftQuad Software Names Andrew Muroff as President,
David Lewis as Chief Financial Officer
Company Formalizes Mergers & Acquisition Program
TORONTO, ON - November 8, 2000 - The Board of Directors of SoftQuad
Software, Ltd. (OTC BB: SXML), an internationally recognized developer of
XML-enabling technologies and commerce solutions for e-business, announced
today the appointment of Andrew Muroff as President and a Director and David
R. Lewis as Chief Financial Officer.
The company also announced that it intends to pursue an aggressive mergers
and acquisition program to add new sources of revenue and enhance the
company's technological base. As president, Andrew Muroff will spearhead
this program as well as corporate development, particularly the maintenance
and development of strategic alliances, corporate finance and relations with
investors.
Roberto Drassinower, chief executive officer of SoftQuad, said, "With the
XML technology market developing rapidly, SoftQuad is poised to capitalize
on strategic opportunities to strengthen our market positioning. Andrew has
the ideal background and experience for leading our M&A effort, having led
and closed about $100 million in acquisitions for a publicly traded company
as well as having headed up business development for an international
Internet service provider during its high-growth phase. As CFO, David adds
expertise in dealing with the financial challenges of an explosively growing
company as well as fulfilling the reporting requirements for a publicly
traded company. David also will support and complement Andrew in his
initiatives."
Before joining SoftQuad, Muroff was director of corporate and legal
development of CYBERPLEX, Inc. (CX: TSE), an international Internet
professional services firm. While at CYBERPLEX, Muroff led all aspects of
the company's successful merger and acquisitions program and developed its
legal documentation, systems and procedures. Previously, he was director of
business development at Managed Network Systems, Inc., an international
Internet Communications provider, where he was instrumental in cultivating
key strategic partnerships. Mr. Muroff is a published author on e-commerce
and the law. He is a member of the Michigan Bar and holds an MBA degree
from the University of Windsor, a BA in Economics from the University of
Western Ontario and a law degree from the Detroit College of Law at Michigan
State University.
Lewis has nearly 30 years of business experience including more than 15
years in the high-tech industry with specific software and Internet
experience in the B2C and B2B global marketplaces. Since 1992, he has been
CFO to a number of Nasdaq-listed companies, accumulating strong global
experience with explosive corporate and cultural growth in the software and
B2C/B2B marketplaces. Prior to joining SoftQuad, he was CFO, Corporate
Secretary, and Treasurer for SUMmedia.com Inc., a publicly traded
(OTCBB:ISUM), global, Internet media and marketing company in the content
management applications and solutions sectors. Lewis is a Chartered
Accountant and holds a Bachelor of Engineering from Dalhousie University.
As CFO, Lewis succeeds David Adams, who left the Company to pursue other
opportunities.
As well, SoftQuad announced the appointment of two additional directors to
its Board. Mr. Larry Goldberg, C.A., is Executive Vice-President and Chief
Financial Officer of Pinetree Capital Corp. (CDNX: PNP). Brock Armstrong is
President and CEO of DC DiagnostiCare, Inc. (TSE: DCE).
About SoftQuad Software, Ltd.
SoftQuad Software, Ltd. (OTC BB: SXML) is a founding member of the World
Wide Web Consortium (W3C). The Company co-invented XML technology and is
internationally recognized in the technical community as a developer and
world leader of XML e-enabling technologies to the growing
business-to-business (B2B) Internet infrastructure solutions market.
SoftQuad was first to the content creation market with XMetaL, an advanced
yet easy-to-use XML content creation solution which has already become the
premier enabling technology for XML-based content applications in electronic
publishing, e-commerce and knowledge management. SoftQuad continues to
target the growing B2B marketplace with MarketAgility, a supply-side content
solution that allows companies to effectively join and compete in B2B
e-markets. Awards: XMetaL won the Web Techniques 1999 "Web Authoring Tool
of the Year" Award; it was one of Internet Week's "Best of the Best",
winning the "Most Innovative" in "Best of 1999" awards and it is also one of
XML Journal's "World Class" recommendations for 2000. For more information,
visit SoftQuad's web site at http://www.softquad.com
Caution Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Words such as
"anticipates", "estimates", "expects", "will", "should", "projects",
"intends", "plans", "believes" and words and terms of similar substance used
in connection with any discussion of future operating or financial
performance identify such forward-looking statements. Those forward-looking
statements are management's present expectations of future events. As with
any projection or forecast, they are inherently susceptible to uncertainty
and changes in circumstances. SoftQuad is an early-stage growth company
that operates in a highly competitive and rapidly changing environment, and
its business results are dependent on numerous factors, including demand for
its products and services, its ability to manage costs and generate
revenues, technological developments, protection of its intellectual
property rights, its ability to attract and retain key personnel, the
resolution of issues concerning commercial activities via the Internet,
including security, reliability, cost, ease of use and access, government
regulation, risks related to international sales and potential foreign
currency exchange fluctuations, economic, political and social conditions in
the countries in which it operates, its ability to successfully obtain
inclusion of its common stock on the Nasdaq National Market and other risks
detailed from time to time in periodic reports filed by SoftQuad with the
U.S. Securities and Exchange Commission and other regulatory authorities.
SoftQuad's actual results could differ materially from management's
expectations because of such factors.
For further information on SoftQuad Software, contact:
Davud Terry
ITPR (for SoftQuad Software)
416-642-6357
david@itpr.com
Investor Inquiries
SoftQuad Software, Ltd.
1-800-773-7317
investorinfo@softquad.com
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