TORONTO, ON, Oct. 31, 2024 (GLOBE NEWSWIRE) -- NamSys Inc. (CTZ – TSX-V) today announces that K. Barry Sparks, Chairman of the Board and Director of the Company will be retiring effective October 31, 2024.

Over his 27 years with the company, Mr. Sparks oversaw the founding of Cenco Technologies, the acquisition and amalgamation with NamSys Inc. and the transition of the company from a packaged software provider and hardware manufacturer to a cloud-based Software-as-a-Service vendor.

Mr. Sparks commented, “It’s been a long road, and I wish everyone the very best and continued success of NamSys.”

“We extend our thanks to Barry for his outstanding leadership and support of the company over nearly three decades,” said Jason Siemens, CEO. “We wish him a long and well deserved retirement.”

The Board of Directors has commenced the process of identifying a suitable successor to lead the board.

NamSys Inc. products are designed to bring efficiency to the processing of currency and other value instruments in retailers, financial institutions, and cash-in-transit providers. NamSys’ proprietary systems for this market are sold as software-as-a-service subscriptions and operate in the public cloud service providers.

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The TSX Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ
from those projected herein and depend on a number of factors including the success of the Corporation’s sales strategies.