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QUEBEC CITY, Sept. 27, 2013 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that new director nominees will be included in the Management Proxy Circular of the Company for their election at the next Annual General Meeting of Shareholders to be held on November 12, 2013. The new proposed nominees are Mr. Pierre Côté and Mr. Jean-Réal Poirier and they will replace Mr. André Duquenne, who has decided not to present himself for re-election, and Mr. John Booth, who resigned as director on May 22, 2013.
"While the Company has reach stability in its business model during the last years and that its growth perspectives are promising, we believe that it is now time to lead off a new phase of our development by focusing on improvement of our operations and on development of new strategic markets and applications related to the water treatment industry. Therefore, Mr. Poirier will be an important asset for the Company given its expertise in manufacturing operations and management, such expertise he has developed over the years with the Canam Group. For his part, Mr. Pierre Côté has significant knowledge in membrane filtration, ultra-filtration and wastewater application he demonstrated when he served as Chief Technology Officer with Zenon Technologies inc., acquired by GE Water & Process Technologies in 2006.This knowledge and expertise complement the expertise of Lisa Henthorne, current member of the Board of Directors of the Company, specialized in desalination, osmosis and nanofiltration", said Philippe Gervais, Chairman of the Board of H2O Innovation.
After 30 years of career in research and development in the water treatment industry, Pierre Côté currently works as consultant and advisor with several companies specialized in water treatment. M. Côté previously worked at Zenon Environmental Inc. in developing membrane-based products and processes. His knowledge and expertise have allowed him to publish some 100 technical publications and obtain more than 77 patents related to membranes and membrane processes.
Retired since March 2013 from Canam Group, Jean-Réal Poirier has held various positions within this enterprise where he acquired significant expertise in manufacturing operations. In 1998, he was appointed Vice President of Operations and General Manager of the St-Gedeon facility, a facility of 700 employees specializing in the manufacture of steel joists, structure steel and prefabricated buildings. As such, Mr. Poirier was also in charge of four other plants of the Canam Group, which are located in the province of Quebec and the United States. At the time of his retirement, Mr. Poirier served as Vice President, Manufacturing Operations and member of the Executive Committee of Canam Group.
Shareholders of the Company will be asked to vote on the election of Mr. Côté and Mr. Poirier, as well as the re-election of the current members of the Board of Directors of the Company, with the exception of Mr. Duquenne. Additional information regarding the director nominees is contained in the Management Proxy Circular, which will be mailed to shareholders of the Company shortly.
"The Board of Directors of H2O Innovation would like to thank André Duquenne and John Booth for their valuable contribution over the past years. Their contribution has been greatly appreciated by all the members of the Board of Directors", concluded Philippe Gervais.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance and achievements of the Company to be materially different than the said forward-looking statements. Information about the risk factors to which the Company is exposed is provided in the Annual Information Form dated September 24, 2013 available on SEDAR (www.sedar.com).
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology to municipal, energy & natural resources end-users. H2O Innovation also provides a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. For more, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
SOURCE: H2O Innovation Inc.
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