Telenav(R), Inc. announced that it reached an agreement with Nokomis Capital, L.L.C. and certain of its affiliates. In connection with the agreement, Joseph M. Zaelit will retire from Telenav's Board of Directors upon the earlier to occur of the time immediately prior to the appointment of a new independent director; the Company's 2017 Annual Meeting of Stockholders and 11:59 p.m. on November 17, 2017. Telenav and Nokomis also agreed to search for an additional independent director to be appointed as a Class III director and, to the extent that such independent director is not identified by the earlier to occur of (b) the Company's 2017 Annual Meeting of Stockholders and (c) 11:59 p.m. on November 17, 2017, at Nokomis' written request, Mr. Brett Hendrickson will be appointed as a Class III director until such time as an independent director is identified.