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Message: Board, Management, and Advisor Changes
| January 8, 2009 |
| Cantronic Announces Board, Management, and Advisor Changes |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2009) - Cantronic Systems Inc. ("Cantronic" or "Company") (TSX VENTURE:CTS) is pleased to announce today the appointment of Mr. XiaoChuan Liu as the second member of its Board of Advisors. The Board of Advisors' mandate is to advise the chief executive officer and the Board of Directors of Cantronic on matters that are of strategic importance to the Company including growth strategy, scientific advancement, and corporate development. Additional Advisors are expected to be announced in due course. Mr. Liu is currently the Director of China's Public Security and Surveillance Products Manufacturing Association and was previously the President of China People's Public Security University from 1991 to 1996. "We are very pleased to welcome Mr. Liu. As former President of China People's Public Security University and current director of China's Public Security and Surveillance Products Manufacturing Association, Mr. Liu has extensive experience and knowledge of the China security surveillance market. Mr. Liu has established very good personal relationships with the business owners in the Chinese security and surveillance products manufacturing sector, a vital connection with GuanXi that will significantly shorten our process of identifying acquisition and collaboration efforts. Mr Liu has the perfect mix of credentials and experience to provide corporate strategic support to Cantronic's growth strategy in China," stated James Zahn, president and chief executive officer of Cantronic Systems Inc. Further, the Company announced the return and appointment of Dr. Jeff Yenyou Zheng to the Board of Directors. Dr. Zheng has previously served on Cantronic's Board of Directors and holds a doctorate and Ph. D. from the Flinders University of South Australia. He has held many senior executive positions during his career including recent positions such as Chairman of Overseas Public and President, CFO and Director of Acquasol Envirotech Limited. The Company also announced the departures of Mr. Frank Riciutti and Mr. Opinder Gill from the Board of Directors. "On behalf of the management team and the Board of Directors, I would like to welcome Dr. Zheng to the Company's Board of Directors and look forward to working with him and our existing Board members," noted James Zahn. "I would like to thank Frank Ricciuti and Opinder Gill for their support and guidance while on the Board of the Company." The Company also announced the departure of Benoit Chotard, Senior Vice President, Finance and Business Development effective January 31, 2009. Jason Leung, the Company's current Controller will replace Mr. Chotard and assume the role of interim Chief Financial Officer, effective immediately. Mr. Leung resides in Richmond, British Columbia. He is a CGA with an extensive background in dealing with Canadian and international companies while at Lam Lo Nishio, Chartered Accountants during the past eight years, prior to joining Cantronic Systems Inc. in 2008. Mr. Leung is fluent in Mandarin and English, which is an asset in internal communications between Asia and North America. "On behalf of the Board and the management team, I would like to welcome and thank Jason for his ongoing commitment to Cantronic by taking on the CFO role. Over the past year, Jason has demonstrated excellent leadership skills both from an accounting perspective and also from an overall operating and communication stance." About Cantronic Cantronic manufactures, distributes, and provides training and services in the fields of infrared vision and video security surveillance technologies, specializing in passive and active infrared cameras, infrared illuminators, low light infrared sensitive CCD cameras and long-range night vision surveillance systems for demanding homeland security and surveillance application. Cantronic, through its US subsidiary QWIP Technologies, Inc. ("QWIPTECH"), holds a worldwide, exclusive license from the California Institute of Technology ("Caltech") to produce and sell infrared detectors and sensors based on Caltech's Quantum Well Infrared Photodetector technology. Cantronic is a Tier 1 issuer on the TSX-V exchange, trading under the symbol CTS. For further information about Cantronic and QWIPTECH, please visit our websites at www.cantronics.com and www.qwip.com. |
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