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Strengthens management team; Secures line of credit
MANASSAS, VA, Feb. 3 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW.S),
developer and manufacturer of the Vindicator(R) laser wind sensor, announced
today that it has strengthened its management team by appointing two senior
individuals who will help to accelerate the implementation of the company's
business plan targeted at producing greater profits for the wind energy
Dr. Jon Hykawy has been named as Director, Vindicator Product Line, and
will be responsible for bringing to market Catch the Wind's technology that
helps to optimize the performance of wind turbines, which results in improved
energy production and reduced maintenance costs.
Prior to joining Catch the Wind, Dr. Hykawy was a research analyst
responsible for the alternative energy sector with Research Capital
Corporation. Previously, he worked with a number of leading capital markets
companies, including Fraser Mackenzie, Harris Partners and Canaccord Capital.
Dr. Hykawy earned his Ph.D. in Physics from the University of Manitoba and
also graduated with an MBA from Queen's University.
Michael Harbour has been named as Director of Accounting and will be
responsible for day-to-day accounting and external corporate reporting
Mr. Harbour is a seasoned accounting professional with 20 years of
financial reporting and operational accounting experience in publicly-traded
and privately-held businesses. Most recently, he served as Senior Manager of
Corporate Accounting and Consolidated Reporting for NII Holdings Inc., a
NASDAQ-listed company, where he was responsible for external financial
reporting, operational accounting and financial systems matters. Mr. Harbour
holds a BA in Business and Finance from Averett University and a CPA
certificate in the Commonwealth of Virginia.
"Attracting top talent, such as Jon Hykawy and Michael Harbour, is
significant for several reasons," said Philip L. Rogers, President and CEO,
Catch the Wind. "Through their industry knowledge and experience, Jon and
Michael will help to advance our goals more rapidly, and as important, their
early identification of the potential value that the Vindicator brings to the
wind energy market adds additional confirmation of our business model."
Line of Credit Secured
Catch the Wind also announced that it has secured a line of credit from
Boston Financial and Equity Corporation. The funds will be used to finance new
equipment purchases for the company.
"Having access to credit facilities under current economic conditions
provides additional validation of our business model and our potential in
addressing an unmet market need," said David Samuels, Chief Financial Officer,
Catch the Wind.
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
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.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Catch the Wind Ltd., Claudia Jaques, Vice
President and General Counsel, (703) 393-0754, firstname.lastname@example.org;
The Equicom Group, Joe Racanelli, (416) 815-0700 ext. 243,