Sylogist Announces New Fiscal Year End at December 31, Will Report Q4 2022 (ending September 30) on November 14, 2022

Calgary, Alberta–(Newsfile Corp. – November 1, 2022) – Sylogist Ltd. (TSX: SYZ) (“Sylogist” or the “Company“), a leading public sector SaaS company, today announced a change in its fiscal year end from September 30 to December 31. Having a December year end will facilitate investors’ comparative evaluation and analysis of Sylogist with its peer group, most of whom report on a calendar year basis. This change will also provide a year-end more accommodative of the Company’s customer and market engagement workflows and planning, much of which occurs in the months of September to December.

Sylogist will release its financial results for the quarter ended September 30, 2022 on November 14, 2022. The Company will then complete a transitional 15-month fiscal year ending December 31, 2022 and issue audited financial statements for that period on or before March 31, 2023.

The Company will host a conference call at 9:00 AM Eastern Time on November 15, 2022. Bill Wood, Sylogist’s President and Chief Executive Officer, and Xavier Shorter, Sylogist’s Chief Financial Officer, will present the Company’s financial results for the quarter ended September 30, 2022, discuss the business’ performance and address questions as time allows.

Investors are invited to join the call at 1-800-319-4610 (Canada/USA Toll Free) or 1-416-915-3239. Callers are asked to join 5-10 minutes prior to the scheduled start time.

About Sylogist

Sylogist provides mission-critical SaaS solutions to over 2,000 public sector customers globally across the government, nonprofit, and education verticals. The Company’s stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist, inclusive of full financial statements together with Management’s Discussion and Analysis, can be found at www.sylogist.com.

Forward-looking Statements

Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. Forward-looking information in this news release includes statements with respect to the facilitation of the investors’ comparative evaluation and analysis of Sylogist with its peer group, the provision of a year-end more accommodative of the Company’s customers and market engagement workflows and planning, and the timing of the release of the Company’s financial results. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including its inability to attract key employees or enlist customer support, its inability to develop innovative technology, its inability to find opportunities to deploy free cash flow, continuing headwinds from COVID-19, and economic turmoil. Additional information regarding some of these risks, uncertainties and other factors may be found in the Company’s Annual Information Form for the fiscal period ended September 30, 2021 and in the management’s discussion and analysis for the fiscal period ended June 30, 2022, and other documents available on the Company’s profile at www.sedar.com. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include Sylogist’s ability to attract and retain employees and customers and to realize on its investments, the ability to expand technology partner and customer relationships and the acceleration of organic and inorganic growth. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Sylogist’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

For further information contact:

Bill Wood, President and CEO
or
Rudy Shirra, Manager, Corporate Development and Investor Relations

Sylogist Ltd.
(403) 266-4808
ir@sylogist.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142658

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