WINNIPEG, Jan. 29, 2018 /CNW/ - Novra Technologies Inc. ("Novra") (TSX-V: NVI) announces that Steven Archambault, Chief Financial Officer (CFO) for Novra and President & CFO for Novra's wholly-owned subsidiary, International Datacasting Corporation (IDC), has decided to leave his position in order to accept a senior finance role at another company in a different market space. Mr. Archambault will work closely with Novra management in coming months to ensure a seamless transition. Meanwhile the company has commenced a search for a new CFO to be based at corporate headquarters in Winnipeg.
Harris Liontas, Novra's President & CEO, will assume the role of President for IDC and direct its sales performance and strategy. Patricia Gair, Novra's Chief Operating Officer, will continue to oversee IDC's R&D, operations and customer support.
Steven Archambault said, "I am very grateful to have had the opportunity to work with Harris and his team since Novra acquired IDC in June 2016. It has been a great journey and with the recent controlling interest acquisition of Wegener Corporation, I believe Novra's future is quite promising. Having said that, it is the offer of a golden opportunity to take a private company through an IPO that has led to my decision to leave the Novra Group. I leave the company financially and operationally sound at an exciting time in its growth, and I look forward to helping with a smooth hand-off over the coming months."
Harris Liontas, President and CEO, commented, "We are very grateful to Steven for originally agreeing to remain with Novra after the acquisition of IDC to help us with the merger and assist in the Wegener deal. The past 18 months have been crucial for Novra and Steven's contributions were invaluable as we restructured, refocused and created a successful template we expect to apply to future acquisitions. I also appreciate Steven's commitment to assist with a smooth transition over the next few months. We wish him the very best in his new venture and I would like to pass along my personal gratitude for his hard work, dedication and professionalism."
About Novra Technologies Inc.:
Novra (TSX-V: NVI) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications.
For more information visit: www.novragroup.com
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SOURCE Novra Technologies Inc.