TORONTO, April 13 /CNW/ - Belzberg Technologies, Inc. (TSX: BLZ) and
Frontline Technologies Corp. announced the closing of the acquisition
of Frontline by Belzberg and the change in company name to Frontline
Technologies Inc. The combined company will change its trading symbol
to FLC which is expected to take place during the week of April 18,
Under the terms of the acquisition agreement, the key elements of which
were approved by Belzberg shareholders at a Special Meeting held on
April 11, 2011, on closing, Hoss Astaraki, President of Frontline was
appointed CEO and Chairman of the combined entity and Judith Robertson
resigned as President and CEO and from the board of directors of
Resignations were also accepted from board members Robert Forbes,
William Gnam and Steve Scarff. New board members, Keith Harris,
Richard Ness and Deborah Robinson were appointed. The Company would
like to thank the resigning directors for their years of service and
contributions to the Company.
"This transaction is an opportunity for two highly complementary
businesses to come together to compete more effectively ," said Hoss Astaraki, President and CEO of Frontline Technologies Inc. "The combined entity will establish a larger, more diversified and
competitive provider of services and technologies for the professional
About Frontline Technologies Inc.
Frontline Technologies is an established, innovative technology service
company serving the professional, financial and investment banking
communities across Canada. Frontline Technologies provides IT
infrastructure support, managed services, technical support, hosted
environment including email and file servers, remote backup, VoIP
services, ISP, disaster recovery and much more. In addition to
infrastructure support, Frontline also offers the "Trade to Clear"
application - a comprehensive platform for managing different aspects
of trading such as OMS, Position Management, Post-trade Matching,
Electronic Ticketing, etc. Customers are able to access an array of
services through one reliable provider - Frontline Technologies Inc.
Additional information is available at www.frontline.ca.
Forward looking statements:
Except for historical information contained herein, the matters
discussed in this press release are based on forward-looking statements
that involve risk and uncertainty. A variety of important factors could
cause results to differ materially from such statements, including but
not limited to economic, competitive, governmental and technological
factors affecting the company's operation, markets, products, prices
and other factors.
SOURCE Belzberg Technologies Inc.
For further information:
President and CEO
Frontline Technologies Inc.