Redishred CapitaL Corp. announces board member changes

MISSISSAUGA, ON, Dec. 14 /CNW/ - Hugh Heron, a Redishred Capital Corp. (TSX.V - KUT) Board of Directors member since March 2008 has announced his retirement from the board effective immediately. Redishred Capital Corp.s Board of Directors and its management would like to thank Mr. Heron for his service to the Company.

Redishred Capital Corp. is also please to announce the appointment of Robert Kay to its Board of Directors. Mr. Kay is Chairman and founder of Springwall Group International and of Springwall Sleep Products Inc., one of Canada's largest mattress manufacturers. Mr. Kay is an entrepreneur who has successfully built various businesses, including the development and management of multi-family real estate properties. Mr. Kay has served on various trade association boards and holds a Business Administration degree from Mount Allison University. Mr. Kay also serves as a member of the Board of Directors of Killam Properties Inc. (TSX - KMP).

Robert Crozier, CEO of Redishred Capital Corp., commented "We would like to thank Mr. Heron for his service to Redishred and his high energy 'can-do' attitude will be missed by al on the board." Mr. Crozier further noted that, "We are pleased to have Mr. Kay join the Board of Directors as Mr. Kays business and public company experience will be an asset to Redishred as we continue to grow our business by way of franchising and by acquisition in 2010. We look forward to leveraging Mr. Kays wealth of business experience in this regard."

Redishred Capital Corp. is the owner of the PROSHRED(R) trademarks and intellectual property in the United States. PROSHRED(R) shreds and recycles confidential documents and proprietary materials for tens-of-thousands of customers in the United States in all industry sectors. PROSHRED(R) is a pioneer in the mobile document destruction and recycling industry and is the only company with the ISO 9001:2000 certification. The company utilizes state-of-the-art equipment and operates its business with trained, certified and bonded customer service professionals. It is PROSHRED(R)s vision is to be the 'system of choice' and provide shredding and recycling services on a global basis.

Note: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward looking statements that reflect the current expectations of management of Redishred and Redishred's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "may", "will", "estimate", "believe", "expect", "intend" and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Redishred. Forward looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2008 management discussion and analysis under "Risk Factors", could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward looking statements. These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Redishred will prove to be correct.

In particular, certain statements in this document discuss Redishred's anticipated outlook of future events. These statements include, but are not limited to:

(i) franchise and acquisition targets, including selling new franchise and, conducting acquisitions over the near and long term, may be impacted by the economic situation in the United States and these development plans may also impact the incremental royalty and fee revenue associated with the new locations

(ii) acquisition plans may be further impacted by the company's ability to raise sufficient financing to acquire and grow these locations Readers are cautioned that such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements.

Redishred can give no assurance that actual results will be consistent with these forward-looking statements.


For further information: For further information: Robert Crozier, Chief Executive Officer, Redishred Capital Corp. (TSX.V - KUT), (416) 490-8600, Fax: (905) 812-9448,;; Jeffrey Hasham, CA, Chief Financial Officer, Redishred Capital Corp. (TSX.V - KUT), (416) 849-3469, Fax: (905) 812-9448,;

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890