TSX Venture Exchange symbol: FOX
TORONTO, Oct. 1 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced the appointment of its new
Chief Financial Officer.
Mr. Sean Carr has assumed the position effective October 01. Prior to
working at FOX-TEK, Mr. Carr served in a variety of roles including CFO of
DreamCatcher Inc, a private Canadian Video Game Publisher; and Senior Vice
President of Finance, Entertainment Group, Alliance Atlantis Communications
Inc. (the leading television and motion picture distributor in Canada).
Mr. Carr has been a member of the Ontario Institute of Chartered Accountants
Mr. Angelo Ascione, FOX-TEK's existing CFO, is departing to pursue other
Dr Essam Zaghloul, president and CEO of FOX-TEK said, "We welcome Sean
and are eager to benefit from his broad experience. We will miss Angelo. I
thank him for his contributions over the past year."
Fiber Optic Systems Technology, Inc. "FOX-TEK" develops non-intrusive
asset health monitoring sensor systems for the oil and gas market to help
operators track the thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling, and process pressure and
temperature. FOX-TEK's FT fiber optic sensor and Pinpoint systems allow
cost-effective, 24/7 remote monitoring capabilities to improve scheduled
maintenance operations, avoid unnecessary shutdowns, and prevent accidents and
FOX-TEK has offices in Toronto, ON; Calgary, AB; Montreal, Que; Houston,
TX; Mexico City, Mexico; and Al-Khobar, Saudi Arabia. FOX-TEK is traded on the
TSX Venture Exchange under the symbol "FOX". For more information, visit
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in FOX-TEK's periodic reports filed with the
Ontario Securities Commission and other regulatory authorities. FOX-TEK has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: FOX-TEK Company contact: Dr. Essam Zaghloul,
president and CEO, Fiber Optic Systems Technology, Inc., (416) 665-2288,
firstname.lastname@example.org; Investor Relations contact: Renmark Financial
Communications Inc.: Barry Mire: email@example.com; Christine
Stewart: firstname.lastname@example.org., (514) 939-3989, Fax: (514) 939-3717,