Tevano Systems Names Esen Boldkhuu to Board Following Interim CEO Benjamin Sawchuk’s Passing

Tevano Systems Announces Leadership Transition Amid Board Changes

On July 20, 2026, Tevano Systems Holdings Inc. disclosed important leadership updates, including the appointment of Esen Boldkhuu to its Board of Directors and recognition of the recent loss of Benjamin Sawchuk. Sawchuk had held multiple leadership roles as Interim CEO, Interim CFO, and Board Chair. The Board issued a formal statement extending condolences to Sawchuk’s family and acknowledging his significant contributions throughout his tenure.

This announcement marks a pivotal transition for the technology company listed on the Canadian Securities Exchange. To maintain governance stability and forward progress, the Board has reinforced its leadership by appointing Boldkhuu, reflecting a focus on continuity during this challenging period.

Esen Boldkhuu’s Expertise in Mining and Technology Sectors

Esen Boldkhuu brings a robust combination of resource sector knowledge and emerging technology experience. He is a mining executive and technology entrepreneur with proven skills in corporate development, capital markets, and artificial intelligence. Boldkhuu currently serves as CEO of UraniumX Discovery Corp., a Canadian uranium exploration company targeting the Athabasca Basin in Saskatchewan.

Raised in Mongolia during its mining boom, Boldkhuu developed an early passion for mineral exploration through geology fieldwork and hands-on exposure to the mining industry. This early foundation has influenced his career path across the resource and technology sectors.

Corporate Development and Strategic Leadership Background

Prior to his CEO role at UraniumX Discovery Corp., Boldkhuu held corporate development positions at Abitibi Metals Corp. and Formation Metals Inc., where he contributed to strategic initiatives and business growth. His involvement in multi-million-dollar financing deals provided him with valuable capital markets and corporate finance experience at an operational level.

This background equips Boldkhuu with insight into the challenges and opportunities faced by junior exploration and technology firms, aligning well with Tevano’s objectives and governance needs as a company listed on both the Canadian Securities Exchange and Frankfurt Stock Exchange.

CEO Achievements at UraniumX Discovery Corp.

Appointed CEO in December 2025, Boldkhuu has driven strategic rebranding, assembled a skilled technical and advisory team, and advanced UraniumX’s exploration portfolio in the Athabasca Basin. He has also led multiple financing rounds and expanded the company’s operations across multiple Canadian jurisdictions.

His leadership emphasizes disciplined capital allocation, systematic exploration, and long-term shareholder value creation, demonstrating active management and strategic execution within a short timeframe.

Artificial Intelligence and Innovation Credentials

In addition to his mining expertise, Boldkhuu co-founded Chimege, a Mongolian AI company specializing in natural language processing. This unique blend of resource sector and AI experience positions him to contribute valuable insights into technology integration and innovation at Tevano.

This dual expertise may prove advantageous as technology continues to transform mining and resource exploration industries, offering the Board a distinctive perspective on strategic and technological opportunities.

Board’s Perspective on Boldkhuu’s Appointment

David Bajwa, Tevano’s Board member, commented: "On behalf of the Board of Directors, I am pleased to welcome Esen Boldkhuu to the Board. We look forward to the contributions and perspective Mr. Boldkhuu will bring as we continue to advance the Company's objectives." This statement underscores the Board’s view of Boldkhuu’s role as a strategic asset to support the company’s future initiatives.

The formal announcement signals that Boldkhuu’s appointment is part of a broader strategic plan, with investors likely monitoring how his expertise will influence Tevano’s operations and potential policy developments in the near term.

Tevano Systems’ Market Presence and Operations

Tevano Systems Holdings Inc. operates as a technology company with listings on the Canadian Securities Exchange (ticker: "TEVO") and the Frankfurt Stock Exchange (ticker: "7RB"). These dual listings provide access to North American and European investors and enhance shareholder liquidity.

The company’s technology focus and cross-border listings differentiate it from conventional mining firms. Recruiting Boldkhuu, with his combined mining and AI background, suggests Tevano is positioning itself at the intersection of resource expertise and technological innovation. However, the announcement does not elaborate on the specific nature of Tevano’s technology operations or strategic direction.

Forward-Looking Statements and Governance Disclosures

The announcement contains standard forward-looking information disclaimers under Canadian securities laws, noting that statements are based on current expectations and assumptions and involve risks that could cause actual outcomes to differ materially.

Investors are directed to Tevano’s SEDAR+ profile (www.sedarplus.ca) for detailed information on risks and uncertainties. The company disclaims any obligation to update forward-looking statements except as required by law. Stakeholders are encouraged to review regulatory filings for comprehensive insights into the company’s operations and strategic plans.

Regulatory Statement and Immediate Effectiveness of Appointment

The Canadian Securities Exchange clarified that it "has neither approved nor disapproved the contents of this news release," a standard regulatory disclaimer. The appointment of Esen Boldkhuu took effect immediately upon announcement, indicating all internal governance and compliance steps were completed beforehand.

No conditions or contingencies related to Boldkhuu’s board membership were disclosed in the release.