Single Touch Systems Inc. Announces Election of Stephen D. Baksa as Independent Board Member

JERSEY CITY, N.J.--()--Single Touch Systems Inc. (OTCBB:SITO), the technology based mobile media solutions provider that enables retailers, advertisers and brands to easily connect with customers through its proprietary, patented technologies, has announced that Stephen D. Baksa has joined the company’s Board of Directors. With the appointment of Mr. Baksa, the Company’s Board will now total five directors.

Mr. Baksa was a General Partner at The Vertical Group, a private equity and venture capital firm focused on the fields of medical technology and biotechnology. For more than 30 years, The Vertical Group has been an early stage investor and major shareholder of some of the medical technology industry’s most successful companies. Before Mr. Baksa joined The Vertical Group, he was co-founder of Paddington Partners, a firm engaged in special situation investing focused on public health care equities.

Mr. Baksa holds an M.B.A. from The Rutgers School of Business and a B.A. in Economics from Gettysburg College.

James L. Orsini, Chief Executive Officer of Single Touch Systems, said, “I am pleased we have added Mr. Baksa as an independent member of our Board of Directors. I believe that Stephen’s passion as an investor in our company, combined with his impressive track record as an early stage investor in companies that have grown to become successful players across a broad array of technologies, will be of great value to Single Touch as we chart our growth in the mobile media space.”

"I am pleased to welcome Stephen to the Single Touch Board of Directors," said Anthony Macaluso, Chairman of the Board and Chief Innovation Officer of Single Touch. "Stephen brings a wealth of knowledge and experience in the area of corporate finance. We look forward to benefiting from his keen insight and perspective as Single Touch continues to focus on the priorities that drive value for all stockholders."

About Single Touch Systems Inc.

Single Touch Systems Inc. (SITO) is a technology based mobile solutions provider serving retailers, advertisers and brands. Through patented technologies and a modular, adaptable platform, SITO’s multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty.

For more information visit: www.singletouch.net

Caution Regarding Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties and reflect Single Touch’s judgment as of the date of this release. These statements include those regarding strategy, growth and future operations. Actual events or results may differ from Single Touch’s expectations. The risks and uncertainties include reliance on brand owners and wireless carriers, the possible need for additional capital, and operational and cultural changes associated with Board and senior management transitions, as well as other risks identified in Single Touch’s most recent Form 10-K and Form 10-Q filings with the SEC. Single Touch disclaims any intent or obligation to update these forward-looking statements beyond the date of this press release, except as may be required by law.

Contacts

Harbor Group Communications, Inc.
Mark Weiss, 646-843-2111

Release Summary

Single Touch Systems Inc. Announces Election of Stephen D. Baksa as Independent Board Member

Contacts

Harbor Group Communications, Inc.
Mark Weiss, 646-843-2111