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SANGOMA ANNOUNCES RESULTS OF ITS SPECIAL MEETING OF SHAREHOLDERS TO APPROVE ITS ACQUISITION OF STAR2STAR

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MARKHAM, ONTARIO, March 29, 2021 – Sangoma Technologies Corporation (“Sangoma”) (TSXV: STC) is pleased to announce that at the special meeting of its shareholders held on March 29, 2021, the shareholders of Sangoma approved the arm’s length acquisition (the “Acquisition”) of all of the issued and outstanding shares of StarBlue Inc. (“StarBlue”) (the parent company of Star2Star Communications, LLC) and the creation of a new “Control Person” (as defined in the policies of the TSX Venture Exchange (“TSXV”)) of Sangoma, being Star2Star Holdings, LLC (“Star2Star”) and/or its largest shareholder Old Town Gelato, LLC (which is controlled by Norman A. Worthington, III, the Chief Executive Officer and Executive Chair of StarBlue).

The Acquisition was approved by 99% of the votes cast by the shareholders of Sangoma at the Meeting. Approximately 78% of the votes entitled to be cast at the Meeting based on Sangoma’s outstanding shares were voted at the Meeting.

Subject to completion of all remaining closing conditions set out in the Acquisition stock purchase agreement dated January 28, 2021, Sangoma expects the Acquisition to close on Wednesday, March 31, 2021.

About Sangoma Technologies Corporation

In an increasingly complex world, businesses need to simplify the way they communicate, collaborate, and seamlessly integrate third-party applications into their operations and processes. Sangoma Technologies meets that need by being a trusted leader in delivering cloud-native, value-based Communications as a Service (CaaS) solutions for businesses of all sizes. Sangoma’s cloud-native solutions include a full suite of as-a-service offerings including: voice, video, persistent chat, meetings, connected worker integrations, trunking, fax, virtual desktops, contact center, access control and much more.

In addition, Sangoma offers a full line of communications products, including premise-based UC systems, a full line of desk phones and headsets, and a complete connectivity suite (gateways/SBCs/telephony cards). Sangoma is also the primary developer and sponsor of Asterisk and FreePBX, the world’s two most widely used open-source communication software projects.

Sangoma has been named to such prestigious lists as the Deloitte Enterprise Technology Fast 15, Omdia Top 10 UCaaS Service Provider, and Forbes Most Promising Companies. Recognition of its pioneering innovation in the enterprise cloud market extends to major industry analyst indicators such as being awarded the Frost and Sullivan Best Practices Unified Communications and Collaboration Competitive Strategy Leadership Award and the Gartner Magic Quadrant for UCaaS, Worldwide.
Sangoma Technologies Corporation is publicly traded on the TSXV (TSXV: STC). Additional information on Sangoma can be found at: www.sangoma.com.
About Star2Star

In an increasingly complex world, businesses need to simplify how they communicate, collaborate, and seamlessly integrate third-party applications into their operations and processes. Star2Star meets that need with its patented cloud-native collaboration platform designed for modern business.

Star2Star has delivered consistently innovative solutions for business communications and collaboration challenges since 2006. Throughout its history, it has demonstrated a commitment to the continuous improvement of cutting-edge technology to anticipate and address the rapidly evolving needs of businesses on the move. The company entered the market in 2007 as one of the limited number of Unified Communications as a Service (“UCaaS”) providers with a cloud platform that combined cloud flexibility with a reliable proprietary network, and the ability to deploy an on-premise voice optimized SD-WAN. Today, Star2Star’s suite of communication and collaboration solutions offers value, reliability, quality, scalability, and the capacity to unify people and processes within an intuitive, cloud-native environment.

Star2Star has been named to such prestigious lists as the Deloitte Technology Fast 500, Inc. 500|5000, Omdia Top 10 UCaaS Service Provider, and Forbes Most Promising Companies. Recognition of its pioneering innovation in the cloud market extends to major industry analyst indicators such as inclusion in the Frost Radar North American Hosted IP Telephony and UCaaS Industry reports and the Gartner Magic Quadrant for UCaaS, Worldwide.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements relating to Sangoma that are based on the expectation of Sangoma as well as assumptions made by and information currently available to Sangoma which may constitute forward-looking information under applicational securities laws. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions indicate forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. There is no assurance that the Acquisition referenced herein will proceed as certain conditions must be met before the Acquisition can be completed. Such conditions are set out in the stock purchase agreement between Sangoma, Sangoma Technologies US Inc., StarBlue, Blue Face Holdings Limited Corporation, Star2Star and the Sellers’ Representative, a copy of which has been fined on SEDAR at www.sedar.com. There is no assurance that the required approvals will be received and there is therefore no assurance that the Acquisition will be completed in the time frame anticipated or at all. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. By their nature, forward-looking statements are based on the opinions and estimates of management on the date that the statements are made and involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other events contemplated by the forward-looking statements will not occur or will differ materially from those expected. Such risks and uncertainties include but are not limited to: (i) the failure to complete the Acquisition; (ii) the inability to obtain required consents, permits or approvals, including that of the TSX Venture Exchange; (iii) the impact of the recent cyber attack experienced by Sangoma and resulting data breach and (iv) other risk factors as disclosed more fully in the management information circular filed by Sangoma on www.sedar.com. Although Sangoma believes that the expectations represented by such forward-looking statements are reasonable based on the current business environment, there can be no assurance that such expectations will prove to be correct as these expectations are inherently subject to business, economic and competitive uncertainties and contingencies. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and Sangoma undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by law.

Readers are directed to the Circular and Sangoma’s filings on SEDAR with respect to additional risk factors relating to the Acquisition.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

Sangoma Technologies Corporation
David Moore
Chief Financial Officer
(905) 474-1990 Ext. 4107
dsmoore@sangoma.com
www.sangoma.com

Kingsdale Advisors
North America Toll Free: 1-866-581-1571
Collect Calls Outside North America: 1-416-867-2272
Email: contactus@kingsdaleadvisors.com

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