Pure Technologies Announces New CEO; Announces Election of Directors and New Board Appointment
CALGARY, May 13, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that Jack Elliott, President of Pure, has succeeded Peter Paulson as Chief Executive Officer. In addition, subsequent to Pure's Annual and Special Meeting of Shareholders held today, the elected Board of Directors appointed Mr. Elliott to the Company's Board of Directors and Mr. Paulson, co-founder of Pure, has been appointed Vice-Chairman of the Board of Directors and remains Chief Technology Officer of the Company.
"These important changes follow recently-announced executive appointments, and further prepare Pure for the next exciting chapter in our growth story," said Jamie Paulson, Pure's Executive Chairman. "I wish to thank Peter for his inspiration and leadership over the past 17 years. Without him, Pure would simply not exist. He will continue to do what he loves, which is leading a group of talented engineers and physicists in developing innovative solutions that address deteriorating physical infrastructure. Jack Elliott has been with Pure since its inception and has been responsible for the development and execution of the Company's strategic plans throughout. He will continue to help ensure that the Company's tremendous future is realized while guiding Pure's young and energetic management team."
The Company is also pleased to announce the appointment of Nicole Springer as Vice President and Chief Legal Counsel for Pure. Nicole is coming to Pure from Axia NetMedia Corporation, where she has served as Vice President, General Counsel & Corporate Secretary. She has extensive experience in all aspects of corporate law.
Election of Directors
In accordance with Toronto Stock Exchange requirements, Pure announced today that the nominees listed in its Management Information Circular dated April 8, 2014 were elected as Directors of the Company. The detailed results of the vote are set out in the table below.
|Nominee||Votes For||% Votes For||Votes Withheld||% Votes Withheld|
|James E. Paulson||29,595,186||92.56||2,378,140||7.44|
|Peter O. Paulson||30,446,886||95.23||1,526,440||4.77|
|Michael M. Kanovsky||29,811,941||93.24||2,161,385||6.76|
|David H. McDermid||29,812,141||93.24||2,161,185||6.76|
|Charles W. Fischer||29,923,541||93.59||2,049,785||6.41|
|Scott I. MacDonald||26,320,171||82.32||5,653,155||17.68|
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams:
- Sales of proprietary monitoring technologies for pipelines, bridges and structures (SoundPrint®, SoundPrint® AFO);
- Recurring revenue from data analysis and site maintenance for these technologies, and from technology licensing;
- Premium technical services including pipeline inspection, leak detection and condition assessment (PureEM™, SmartBall®, Sahara®, PipeDiver®, PureRobotics®; PureMFL™;
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure.
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and the Company's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, the Company's filings with Securities Regulators (www.sedar.com).
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