HIAWATHA, KS, Jan. 28, 2016 /CNW/ - (TSX: AJX) — AgJunction Inc. announced today that it has named Mr. Bob Barjesteh to the newly formed position of VP Intellectual Property (IP) and General Counsel (U.S.). Mr. Barjesteh was most recently the Managing Director-Chief Legal Officer at ClaroVia Technologies LLC., a specialty intellectual property and corporate transaction advisory firm. As managing director at ClaroVia, he was responsible for providing advisory services to clients - including Novariant which was acquired by AgJunction in October 2015 - on IP monetization, strategic alliances, M&A and other complex corporate transactions.
ClaroVia has been a valuable advisor to the Novariant IP team for the past two years and understands the uniqueness of the agriculture market. In his new role at AgJunction, Mr. Barjesteh will primarily be responsible for inside legal counsel related to IP management and will direct the extensive outside legal and IP teams that have been assembled by AgJunction.
Over the past twenty years Mr. Barjesteh held executive and management positions at ClaroVia, 3M Company, and Arthur Andersen LLC. He has accumulated extensive experience identifying and evaluating business opportunities for technology licensing, strategic alliances and other complex corporate transactions. He brings to AgJunction the ability to enhance its IP portfolio with original concepts, new strategies, and innovative approaches to business alliance opportunities.
"AgJunction's intellectual property portfolio is a strategic asset and an area where we continue to invest heavily," said Dave Vaughn, AgJunction President and CEO. "Bob's experience at ClaroVia in intellectual property creation and protection along with his prior years of experience at 3M and Arthur Andersen provides AgJunction with the leadership and capabilities to drive the business opportunities presented by this strategic IP asset."
AgJunction (www.agjunction.com) provides innovative hardware and software applications for precision agriculture worldwide. The Company holds more than 140 patents and markets its products and services under leading brand names including Novariant, Outback Guidance® and Satloc®. The Company is headquartered in Hiawatha, Kansas, with facilities in Silicon Valley, Scottsdale, Arizona, Calgary, Winnipeg, and Queensland, Australia. AgJunction is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to www.agjunction.com.
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of each of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to its current and future operations. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release. In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the availability and cost of labor and services; that AgJunction's future results of operations will be consistent with management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements relating to existing and future assets and projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; availability of key supplies, components, services, networks and developments; the impact of increasing competition; conditions in general economic, agricultural and financial markets; and the continuity of existing business relationships.
Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; failure to realize the anticipated benefits of the merger and to successfully integrate AgJunction and Novariant; failure to realize the expected synergies, capital efficiencies and cost-savings from the proposed program to consolidate operations and redundant resources; the estimated cash cost of the proposed program to consolidate operations and redundant resources will not be the amount anticipated by the Company; ability to access sufficient capital from internal and external sources; changes in legislation; departure of key personnel or consultants; competition; inability to introduce new technology and new products in a timely manner; legal claims for the infringement of intellectual property and other claims; fluctuation in foreign exchange or interest rates; uncertainties in the global economy; negative conditions in general economic, agricultural and financial markets; availability of key supplies and components; product liability; and changes in the Global Navigation Satellite System and other systems outside of our control. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the Company's operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction's Annual Information Form for the year ended December 31, 2014 which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and each of AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Agjunction Inc.
For further information: Dave Vaughn, Chief Executive Officer, (510) 933-4822, [email protected]; Michael Manning, Interim Senior Vice President and CFO, (785) 742-5149, [email protected]; Cory Pala, Investor Relations, (416) 657-2400, 1-877-657-5276, [email protected]