SITO Mobile Announces Departure of CEO

JERSEY CITY, N.J., Feb. 21, 2017 -- Today, SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform, announced CEO Jerry Hug submitted his resignation which was accepted by the Board.  Current SITO Board Member, Richard “Rory” O’Connell, is the interim CEO. SITO’s Board of Directors has commenced a search for a permanent replacement.  

At the same time, the company also reiterates its previously announced media placement revenue expectation for the 4^th quarter ended December 31, 2016.

SITO Mobile continues to grow revenue and will maintain its focus on current strategic initiatives, helping marketers to leverage its location-based targeting capabilities in combination with transparent real-time insights and measurement.  

Based on sales activity for the first six weeks of Q1 2017, the company is confident that its Q1 Media Placement revenue will deliver strong growth over last year’s Q1 Media Placement revenue.

In early 2017, SITO Mobile will introduce new data product offerings – creating new recurring revenue streams.   

SITO Mobile is scheduled to report its 4^th quarter and full year results on March 28, 2017.  

About SITO Mobile Ltd.

SITO Mobile provides a mobile engagement platform that enables brands to increase awareness, loyalty, and ultimately sales. For more information, visit www.sitomobile.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, sales growth, , the possible need for additional capital as well as other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contacts:
Investor Relations:
Joseph Wilkinson
SVP Investor Relations
[email protected]
 
Media Relations:
Alexandra Levy
Silicon Alley Media
[email protected]
 
RELATED LINKS
http://www.sitomobile.com