MediaValet Announces CEO Transition

Rob Chase appointed President and CEO, Andrew Shen appointed as Director and Chair of the Board

Vancouver, British Columbia--(Newsfile Corp. - February 28, 2023) - MediaValet Inc. (TSX: MVP) (the Company), a leading provider of enterprise digital asset management, video content management and creative operations software, today announced that its Board of Directors ("Board") has appointed Rob Chase (formerly Executive Chair of the Board) as President and Chief Executive Officer (CEO), effective immediately. Mr. Chase succeeds David MacLaren, Founder and former President, CEO and Director. Concurrently, Andrew Shen has been appointed Chair of the Board (replacing Mr. Chase who remains a Director), and has joined as a Director, replacing Francis Shen who will continue as a Board Observer.

The transition is being done in recognition of the leadership needs for MediaValet's next phase of growth and development. Mr. Chase has worked closely alongside Mr. MacLaren over the past eight years, establishing MediaValet as a leader in Digital Asset Management. In addition, Mr. Chase has successful experience in building SaaS companies from MediaValet's current stage of evolution. His previous role within the Company includes being the Chair of the Board, Executive Chair of the Board as well as interim CFO. Due to his extensive roles in the Company, Mr. Chase has been selected for the CEO role as the ideal candidate possessing an in-depth knowledge of the Company and its culture, the market opportunity, the customer needs and the strategic direction for the future growth of MediaValet.

"On behalf of the entire Company, I want to thank David for his pivotal role in building MediaValet to this important phase," said Mr. Chase, the new President and CEO of MediaValet. "Under his leadership, the team has successfully grown MediaValet through start-up to nearly $15 million in Annual Recurring Revenue and nearly 500 customers, and we have established a talented leadership team and vision for success. I am confident that the leadership team we currently have in place has the passion and expertise to maintain our strong culture, to deliver on our growth and profitability goals, and to successfully implement our DAM vision for our customers, staff, partners and shareholders."

Mr. Chase added, "I would also like to thank Francis Shen of Shen Capital, our largest shareholder, for his support and guidance as a Director since 2019, and look forward to him continuing as a Board Observer. We welcome Andrew Shen as a new Director and know that he will add significant value as Chair of the Board. Andrew has been a Board Observer with MediaValet since 2019 and brings strong financial and business acumen and a proven understanding of our business and opportunity."

About MediaValet Inc.

MediaValet stands at the forefront of the cloud-native, software-as-a-service, enterprise digital asset management, video content management and creative operations industries. Built exclusively on Microsoft Azure and available across 61 Microsoft data center regions in 140 countries around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy, compliance, and scalability; while offering the largest global footprint of any DAM solution. In addition to providing enterprise, cloud-native DAM capabilities at a global scale, desktop-to-server-to-cloud support for creative teams, and overall cloud redundancy and management for all source, WIP and final assets, MediaValet offers industry-leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, Wrike, Drupal, WordPress and many other best-in-class 3rd party applications.

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For further information, please contact:
Rob Chase
Tel: (604) 512-1554

Babak Pedram
Tel: (416) 644-5081

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