MONTREAL, Sept. 17 /CNW/ - AAER Inc. (TSX-V: AAE) ("AAER" or "the
Company"), a Canadian wind turbine manufacturer, today announced the
appointment of Mr. Jean-Robert Pronovost, as Chief Financial Officer effective
immediately. This position was previously held by Mr. Alain Gosselin, now
acting as Vice President Internal Audit and Control.
"We would like to extend a warm welcome to Mr. Pronovost. His extensive
experience, knowledge of equity markets and strategic planning will greatly
benefit our Company and enable us to take the Company to the next level," said
Dave Gagnon, President and Chief Executive Officer of AAER. "We look forward
to Jean-Robert's future contributions as a key member of our senior management
Most recently, Mr. Pronovost was managing partner and founder of Cape
Partners, an independent investment firm primarily involved in private equity.
Before founding Cape Partners, Mr. Pronovost was partner and co-founder of
IUGO Capital, a venture capital firm with investments in Canada, the
United-States and Europe. He was also Director of Corporate Finance at Groupe
Vidéotron where he completed many foreign investments and divestitures. Prior
to Videotron, Mr. Pronovost spent four years at Credit Suisse First Boston
advising corporations on M&A activities and the execution of private and
public financings. Mr. Pronovost also held various positions with the Caisse
de Dépôt et Placement du Québec. He holds a degree in Economics and Finance
from Laval University and an MBA from UQAM.
The Company also announced it has granted 1,500,000 stock options to Mr.
Pronovost, exercisable over three consecutive tranches on every anniversary
date of his contract. Each option allows for the purchase of one common share
exercisable at a price of 0.37$ per share and expires on September 17, 2012.
These stock options are subject to regulatory approval and to a 4 month hold.
The exercise price was determined by the previous day's closing price pursuant
to the option plan.
About AAER Inc., (TSX-V: AAE)
AAER is a wind turbine manufacturer, located in Bromont, Quebec, and
operating with a strategy of progressively building its product's components.
The Company's mission is to manufacture and maintain high-capacity wind
turbines of 1 MW and more in North America. AAER uses proven European
technologies to ensure high performance of its turbines in various wind
conditions and on complex terrain. Its stock is listed on the TSX Venture
Exchange (AAE). Additional information is available on the Company's Website
This news release contains certain forward-looking statements. These
statements relate to future events or AAER's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations described herein. AAER undertakes no obligation, and does not
intend to, update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be
required under applicable law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Eric Bouchard, Telephone:
(514) 844-7997, firstname.lastname@example.org