MANASSAS, VA, March 2 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW.S), developer and manufacturer of the Vindicator(R) laser wind sensor (LWS) and other sensor products, announced today that it has appointed Marty Crotty as an independent director of the Company. Mr. Crotty will serve on the Company's Audit Committee as well its Corporate Governance and Compensation Committee.
"Marty is a welcome addition to our board," said Phil Rogers, President and CEO of Catch the Wind Ltd. "He brings extensive experience in the energy sector and has focused on the renewable wind energy market for almost a decade. We look forward to his many contributions in helping the Company commercialize our laser wind sensing technology."
Mr. Crotty is President of AES Wind Generation, part of AES Corporation, a global power company. He served as Executive Vice President with SeaWest WindPower Inc. and has more than 20 years of experience in the energy sector.
Consistent with the Company's non-employee director compensation policy, Mr. Crotty was issued a stock option grant consisting of 100,000 shares. The options have an exercise price of CDN $2.19 based on the Company's closing share price on the TSX Venture Exchange on March 1, 2010. One third of these options vested on the date of grant and the remaining two thirds of these options will vest in equal increments on each of the first and second anniversaries of the date of grant. The expiry date of the options is March 1, 2020.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in Manassas, Virginia. The company was founded in 2008 to develop and manufacture the Vindicator(R) laser wind sensor.
Catch the Wind serves the commercial market sector for laser based wind sensor systems, recognized as the "gold standard" in wind measurement. The company is focused on becoming a major contributor in making clean, renewable wind energy more affordable and profitable. For more information, visit www.catchthewindinc.com or follow us on twitter at www.twitter.com/catchthewindinc
This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of Catch the Wind. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Catch the Wind believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Catch the Wind disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BlueScout Technologies, Inc.
For further information: For further information: Catch the Wind Ltd., Claudia Jaques, Vice President and General Counsel, (703) 393-0754, email@example.com; The Equicom Group, Joe Racanelli, Investor Relations, (416) 815-0700 ext. 243, firstname.lastname@example.org