Gatekeeper Announces Changes to Board of Directors, Welcomes Corey Muirhead as Director
Abbotsford, BC – April 12, 2021 – Gatekeeper Systems Inc. (‘Gatekeeper’ or the ‘Company’) (TSX-V: GSI) (OTC: GKPRF) (FSE: 1GK) a video and data solutions provider for public transportation and smart cities, is pleased to announce changes to its Board of Directors. Corey Muirhead has been appointed independent director and concurrent with this appointment Robert Gailbraith has resigned as director.
Mr. Muirhead is Executive Vice President of Logan Bus Company Inc., the largest privately owned school transportation company in New York State, and has over a decade of industry experience in school transportation. He has successfully negotiated contracts having aggregate value of more than $1 billion with the New York City Department of Education and other government agencies. He is also President of the New York School Bus Contractors Association, an organization comprising of nearly one hundred school transportation service companies promoting safe, reliable and cost-effective student transportation in New York State.
Concurrent with Mr. Muirhead’s appointment, Mr. Gailbraith has resigned as director and will continue to support the Company as a consultant. The Company is grateful for his longstanding support of the Company and his leadership as director.
Doug Dyment, President and CEO commented: “We are delighted to welcome Corey to our Board as independent director. He is an industry expert in school transportation and has an in-depth understanding of the opportunities and challenges the industry now faces. We are excited about Gatekeeper’s prospects for growth during this period in which we believe there will be strong adoption of technology in school transportation to assist the safe reopening of schools.”
On March 17, 2021 the U.S. Department of Education announced $122 billion from the American Rescue Plan to help schools reopen safely and get students back in the classroom. School Bus Fleet Magazine reports that approximately 480,000 school buses transport 22.6 million students daily nationwide. School districts are embracing video and data solutions on school buses to help provide a safer transportation environment for school children and Gatekeeper has installed more than 34,000 intelligent mobile data collectors and 100,000 video devices on school buses for more than 3,500 school district customers.
The Company also announces that it has granted an aggregate of 850,000 incentive stock options to certain directors, officers, employees, and consultants under the Company’s stock option plan, subject to regulatory approval. The stock options are exercisable at a price of $0.87 for a period of five years from the date of grant and subject to vesting provisions.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, thermal cameras, and mobile data collectors to inter-connect public transit assets as part of intelligent transportation systems in a Smart City ecosystem. The Company’s Platform-as-a-Service (PaaS) business model is an enabling transformation to a video and data solutions provider for intelligent transit and Smart Cities.
President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management’s discussion and analysis for the period ended November 30, 2020. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.