Mr. Andrew Gutman reports

BSM TECHNOLOGIES INC. ANNOUNCES CHANGES TO BOARD OF DIRECTORS

BSM Technologies Inc. has entered into an agreement with Crescendo Partners II LP Series R2 and Crescendo Partners III LP, two funds that Crescendo Advisors II LLC manages, and its joint actor, Jamarant Capital LP, pursuant to which the company has agreed to appoint three nominees of the significant shareholders to the board of directors of BSM. Pursuant to the agreement, Pierre Belanger and John Gildner have each tendered their resignations as directors of the company and the board has determined to increase the size of the board to seven directors. Kelly Edmison, Greg Monahan and David Sgro have each been appointed to fill the resulting vacancies on the board. Following these changes, the board comprises Andrew Gutman, Aly Rahemtulla, Frank Maw, Leonard Metcalfe, Mr. Edmison, Mr. Monahan and Mr. Sgro.

"Kelly, Greg and David bring unique skill sets and expertise that will be invaluable to our board," said Mr. Gutman, chairman of the board. "With a combination of significant capital markets experience and industry-specific acumen, they are welcomed additions. The board is committed to ensuring that BSM continues to build a strong operational foundation that will position the company for growth in 2017. I look forward to working with Kelly, Greg and David to drive further value for our shareholders."

Mr. Gutman continued, "On behalf of the board, I would like to thank Pierre Belanger and John Gildner for their years of service and wish them well in their future endeavours."

The new directors' biographies follow:

Mr. Edmison is chairman of Penderfund Capital Management Ltd., which manages a venture fund and variety of value-based mutual funds. In 2002, Mr. Edmison founded Pender Financial and PenderFund Capital which he led until recently. For over 20 years, Mr. Edmison has been an officer and director of many public and private technology companies. Mr. Edmison is a graduate of the University of Toronto and Queen's University.

Mr. Monahan is a senior managing director of Crescendo Partners LP and has held various positions at Crescendo Partners since May, 2005. He is also a managing member and portfolio manager for Jamarant Capital LP, a private investment firm. Mr. Monahan is currently on the board of directors of Absolute Software Corp., Cott Corp. and SAExploration Holdings Inc. He previously served as a director of Com Dev International Ltd., Entrec Corp., Bridgewater Systems and O'Charley's Inc. Mr. Monahan holds a BS in mechanical engineering from Union College and an MBA from Columbia Business School.

Mr. Sgro is a senior managing director of Crescendo Partners LP and has held various positions at Crescendo Partners since May, 2005. He is also a managing member and head of research for Jamarant Capital, a private investment fund. Mr. Sgro currently serves as a director of Imvescor Restaurant Group, SAExploration Holdings Inc. and Pangaea Logistics Solutions Ltd., and as an executive and director of Harmony Merger Corp. He previously served as a director of Com Dev International, Bridgewater Systems Inc. and Primoris Services Corp., and as an officer and director of Quartet Merger Corp. and Trio Merger Corp. Prior to joining Crescendo Partners, Mr. Sgro held analyst positions with Management Planning Inc. and MPI Securities Inc. from May, 1998, to May, 2003. Mr. Sgro is a chartered financial analyst (CFA) charterholder and holds a BS in finance from the College of New Jersey and an MBA from Columbia Business School.