MISSISSAUGA, ON, Aug. 9 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the
"Company"), (TSX/AIM: GWI), a leading provider of "green" structural building
technology using light steel, is pleased to announce that, effective August 1,
2007, William J. Assini has been appointed to the Board of Directors of
Genesis, to hold office until the next annual meeting of shareholders of the
Company or until his successor is elected or appointed.
From 1990 to June 2007, Mr. Assini was a Senior Vice-President of
PricewaterhouseCoopers Inc., and a partner of PricewaterhouseCoopers LLP
located in London, Ontario, where he had regional advisory responsibility for
Mr. Assini currently serves as a director of the following subsidiaries
of IGM Financial Inc., a member of the Power Financial Corporation group of
companies - I.G. Investment Management, Ltd., Investors Group Corporate Class
Inc., Investors Group Trust Co. Ltd., and M.R.S. Trust Company. Mr. Assini is
a graduate of McGill University and a chartered accountant and member of the
Institute of Chartered Accountants of Ontario. He is also a member of the
Canadian Association of Insolvency and Restructuring Professionals and a
Certified Forensic Investigator.
"Mr. Assini brings to the Board of Genesis a wealth of knowledge both
from the Canadian and international perspective and we look forward to his
contribution to the Company," said John Gardner, Executive Chairman of Genesis
About Genesis Worldwide Inc.
Genesis develops and licenses structural building technology aimed at the
residential, commercial and institutional building markets. Genesis offers
licensees a turn-key solution enabling them to custom design, manufacture and
install complete light steel building structures. The Genesis Solution
encompasses engineered processes and materials that are environmentally
sustainable or "green". Genesis is headquartered in Mississauga, Ontario,
Canada and currently has seven licensees worldwide. For additional information
about the Company, visit www.genesisworldwide.com.
Additional AIM Disclosure
The following additional information respecting William Assini is
provided in accordance with Rule 17 and Schedule 2(g) and Schedule 5 of the
AIM Rules -
Full Name: William Joseph Assini
Grand Theatre Limited
Investors Group Corporate Class Inc.
I.G. Investment Management, Ltd.
Investors Group Trust Co. Ltd.
M.R.S. Trust Company
PricewaterhouseCoopers LLP (Partner)
Shareholdings in Genesis Worldwide Inc.: Nil
Mr. Assini was granted stock options on August 8, 2007, exercisable for
10,000 Common Shares of Genesis, at an exercise price of Cdn. $1.96, vesting
at 25% on each of the first, second, third and fourth anniversary of the grant
date, and expiring ten years from the grant date.
There are no other matters to be disclosed in relation to Rule 17 and
Schedule 2(g) and Schedule 5 of the AIM Rules.
For further information:
For further information: Genesis Worldwide Inc., John Gardner, Executive
Chairman, Tel: (905) 285-9909; or Canaccord Adams, Robert Finlay, Erin Needra,
Tel: +44 020 7050 6500