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Rewardstream appoints Vegarra as director

RewardStream Solutions Inc.'s shares advanced nearly 6% on Thursday, after the company announced it had appointed Juan Vegarra to the board

Tech veteran Juan Vegarra joins RewardStream

RewardStream Solutions Inc.'s (CVE:REW) shares advanced nearly 6% on Thursday, after the company announced it had appointed Juan Vegarra to the board.

Vegarra is currently the chief executive officer and a member of the board of directors of VuSay Technologies, a leader in socially enhanced on-line video services. Vegarra also acts as a mentor and adviser to MBA students at the Foster School of Business at the University of Washington.

The company also announced the resignation of Norman Brewster, PGeo, from the company's board of directors.

Vegarra's career in technology began in the late 1980s in information technology with the US House of Representatives.

Vegarra transitioned into a senior technology evangelist role at Microsoft followed by a successful tenure as the worldwide director of channel programs for Microsoft Solution Provider Partners. In his roles with Microsoft, Vegarra travelled to over 54 countries and significantly expanded product revenues and reach in the Americas, Africa, India, Middle East and Europe.

Since 1999, Vegarra has managed Vegarra Investments LLC, where he has led investments in Internet, software and cloud computing companies, while also serving as an active adviser and board member.

Vegarra was also the founder, chief executive officer and chairman of the board of Vena Resources, a Toronto Stock Exchange-listed mining company. During his tenure at Vena Resources, Vegarra raised over $54mln and signed over $15mln in joint venture deals, resulting in a market capitalization of over $160mln. Vegarra has also been an active investor, board member and adviser to several TSX Venture Exchange-listed companies.

"We are very pleased to have Juan join our board of directors and help guide the company's future direction," said Rob Goehring, chief executive officer of RewardStream.

"Juan has a unique combination of skills and experiences that make him an ideal board member for RewardStream. With his passion for software companies, experience in scaling sales channels and a strong public market background, we look forward to working with Juan on the next stage of the company's growth.”

RewardStream also reported a stemming of its comprehensive loss in the three months ended Dec 31 of C$555,791 versus C$762,323 in the same period in 2015.

The company said it ended the calendar year 2016 with cash of C$378,164, up from C$277,214 at the end of 2015.

RewardStream shares were up 5.9% at C$0.18 on Thursday.

Quick facts: RewardStream Solutions

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Market: TSX-V
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