Trading Symbol: JTI
TORONTO, March 1 /CNW/ - Jite Technologies Inc. ("Jite"), TSX-V "JTI", announces that Mr. Jiming (Jimmy) Liu, has resigned as Chief Executive Officer of Jite effective from Mar. 1, 2010. Mr. Liu co-founded Jite fifteen years ago to set up a manufacturing base in Shenzhen, China, together with a North American distribution system based in Toronto, Canada. The company went public in July, 2006 and Mr. Liu and another founder sold its controlling interest to McVicar Industries Inc., a Toronto based industrial company with investment in China based businesses, in early 2007. Mr. Liu was appointed CEO of Jite at the time. Mr. Liu remains on as a Director of Jite.
"I would like to thank Jimmy greatly for his initiatives and contribution to build and lead Jite to its current position in the terminal block connector business." said Dr. Gang Chai, Chairman of Jite and President and CEO of McVicar Industries Inc.
JITE designs and manufactures electronic and electrical connection devices for security, industrial control, automation, telecommunication, and power supply industries. JITE is head quartered in Toronto, Canada and carries out research and manufacturing operations in Shenzhen China at its ISO 9001 certified facility. For more information, visit JITE at www.jitetech.com.
This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.
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 JITE TECHNOLOGIES INC.
For further information: For further information: JITE Investor Contact: Ms. Exavier Peterson, Tel: (416) 366-7420; Or Chairman: Dr. Gang Chai, Tel: (416) 366-7420