GUELPH, ON, Sept. 29 /CNW/ - BIOREM Inc. ("Biorem" or "the Company") (TSX-V: BRM) is pleased to announce today that Mr. Mark Hawley has been appointed Vice President of Operations and will be joining the senior management team at Biorem's head office in Guelph, Ontario. In this newly created executive position, Mr. Hawley will be responsible for the development and execution of Biorem's operational business plans, procedures and objectives in support of advancing corporate strategy. Mr. Hawley was granted options to purchase a total of 100,000 common shares in accordance with the Company's stock option plan at an exercise price of $0.46. The options have an expiry of ten years, ending September 29, 2019.
"With this addition to our senior management team, we have now completed the first major phase of our Company's strategic development," said Peter Bruijns, President & CEO of Biorem. "With a reinforced senior management team, capable international sales group and strong balance sheet, we are now in a position to lead our company into its next phase of growth that will be driven through acquisition and organic means. We look forward to having Mr. Hawley play an integral role in advancing the growth of our business and welcome Mark to the Biorem team."
Mr. Hawley is a seasoned business executive with nearly 20 years of senior management experience in manufacturing and engineering-related industries. Mr. Hawley is a Professional Engineer and holds a Masters in Management Science from the University of Waterloo and a Bachelor of Science from the University of Toronto.
About BIOREM Inc.
BIOREM designs and manufactures air emission control systems, including biofiltration and biotrickling systems that safely remove harmful contaminants such as Hydrogen Sulfide, Reduced Sulfur compounds, and Volatile Organic Compound's from the air. Our systems are environmentally friendly, clean and sustainable all the while reducing greenhouse gas emissions. With more than 600 installed systems worldwide, continued extensive research efforts and over 15 years of experience, BIOREM not only offers state of the art technology-based products but also peace of mind for municipalities and industrial companies and their surrounding communities. Additional information on BIOREM is available at our web site at www.biorem.biz.
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This press release contains forward-looking statements based on current expectations. These forward-looking statements contain various risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Risks and uncertainties about the Company's business are more fully discussed in the disclosure materials, financial statements and MD&A filed with the securities regulatory authorities in Canada on www.sedar.com
"Order Bookings" and "Order Backlog" do not have any standardized meaning prescribed by Canadian generally accepted accounting principles ("GAAP") and may not be comparable to measures presented by other companies.
Order Bookings and Order Backlog are non-GAAP measures that the Company uses to evaluate its sales performance. Order Bookings are those binding contracts that the Company enters into with a third party for the delivery of our products or services. As Order Bookings are received, the contract value (before any associated sales taxes) is included in the Order Backlog. The Order Backlog is reduced by the revenue that is recognized on each project.
SOURCE BIOREM Inc.
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