2014-03-18 02:06:17 -
Toronto, Ontario, March 17, 2014 /FSC/ - Wi2Wi Inc. (YTY - TSX Venture"Wi2Wi" or the "Company") is pleased to announce that it has appointed current board member Prakash Hariharan as Vice Chairman and interim CEO of the Company.
"We are excited to have Mr. Hariharan take on greater responsibility in supporting Wi2Wi's strategic vision. In his short tenure as a Company director, Mr. Hariharan has leveraged his capital markets experience to assist Wi2Wi in its goal of expanding its global reach and identifying growth opportunities. We believe Mr. Hariharan's strong commitment to Wi2Wi's mission will create further value for shareholders and provide a focused approach for Wi2Wi's continued business success," stated Dr. Hans Black, Chairman of Wi2Wi.
The Company has
also announced that Dr. Reza Ahy has stepped down as CEO of the Company. "The Board would like to thank Dr. Ahy for his contributions to Wi2Wi during his tenure, and wish him success in his future endeavors," said Dr. Black.
Prakash Hariharan was formerly a portfolio manager at Front Street Capital focusing on Growth and Income Strategies in the yield space with a focus on technology and agriculture investments. Mr. Hariharan also spent time at Dominion Bond Rating Services, analyzing and rating structured investment products. He holds a financial engineering degree from York University, an MBA from the Schulich School of Business, and an undergraduate degree in chemical engineering.
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Chief Operating Officer
Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).
This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to, among other things, the Proposed Transaction. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Completion of the Proposed Transaction described herein is dependent on a number of factors and is subject to a number of risks and uncertainties, and it is not certain that the Proposed Transaction will be completed. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company`s or Wi2Wi's business, general business, economic and competitive uncertainties and delay or failure to receive board, shareholder or regulatory approvals.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither 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.
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Source: Wi2Wi Inc. (YTY:CA TSXV) www.wi2wi.com
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