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TAAL Announces Transition of Chief Executive OfficerTORONTO, Nov. 18, 2021 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, today announces Stefan Matthews has advised the board of directors of the Company (the "Board") that he will be stepping down as Chief Executive Officer effective January 1, 2022. Mr. Matthews will remain as a director and as Executive Chairman of the Board. Succeeding Mr. Matthews as Chief Executive Officer will be Richard Baker. Mr. Baker currently acts as Lead Independent Director and Chairman of the Technology Committee. During his work with the Technology Committee Mr. Baker has gained invaluable insight into the business and operations of the Company and has led development of an overarching business strategy which will be implemented in 2022. Mr. Baker served as Chief Executive Officer to GeoSpock Limited, a Data Analytics software company based in Cambridge U.K., from November 2017 to February 2021. Mr. Baker also currently serves as Chairman and Director of TAB.U.K a Fintech data science company. Prior to this, Mr. Baker co-founded in June 2010 and ran Cleartrade Exchange, a fintech commodities futures exchange, for six years before exiting in 2016 to the European Energy Exchange, a Deutsche Bourse company. Mr. Matthews commented "I have worked closely with Richard, and I have every confidence he will be able to lead TAAL through its development and growth as a miner, transaction processor and blockchain as a service company. My commitment to the Board was that I would guide TAAL until Dec 2022 and in my capacity as Executive Chairman I will work closely with Richard throughout 2022 to ensure he has my full support and guidance, particularly in the minng, processing infrastructure and operations areas. This will ensure a very smooth transition and position the executive leadership of the business to deliver significant innovation into the blockchain sector. As Chairman of the Technology Committee, Richard has worked with me to establish a strategic vision for TAAL so his transition into the CEO role is a natural progression." Mr. Baker commented "I am honored and excited to take on this responsibility and thank the Board for their support and Stefan for his trust and mentorship since I joined the board in late 2020. I am delighted to have the opportunity to work with him closely in 2022 as we commence the next phase of development and accelerate TAAL's growth. TAAL has a critical role to play in assisting the maturing and adoption of BitcoinSV blockchain. As a market phase, this reminds me of my early career where I had the pleasure of working in the Telcom's industry in the early 1990's with Nortel Networks and Cable & Wireless during the build of extensive optical fibre networks around the world; this infrastructure became the backbone of the internet we know today and has enabled innovation that no one could forecast way back then. I firmly believe we are witness to the next big technological and economical evolution of data and money networks and unlocking, scaling and liberating accessibility to the unique capabilities of BitcoinSV is at the heart of my leadership journey with TAAL. We have a truly talented global team and an incredibly rich BSV eco-system of partners and I look forward to collaborating and building together compelling service propositions for our clients." We are also delighted to announce that Ms. Deborah Rosati has been appointed the new Lead Independent Director in Mr. Baker's place. Ms. Rosati and Mr. Baker became directors of the Company on December 10, 2020. About TAAL Distributed Information Technologies Inc. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION SOURCE Taal Distributed Information Technologies Inc. |