TSX Venture Exchange: VSI
VANCOUVER, Jan. 4 /CNW/ - VendTek Systems Inc. (VSI - TSX Venture) (the "Company") today announced the appointment of Mr. Ian McKinnon to the Company's Board of Directors. The appointment is subject to the approval of TSX Venture Exchange.
Over his 30 year career, Mr. McKinnon has developed a reputation for driving business performance and creating stakeholder value. He currently provides consulting services to technology company executives covering a broad range of management and leadership topics.
Mr. McKinnon was previously President and Chief Executive Officer of TSX-listed Certicom Corp from 2002 to 2007. Prior to that, he was Chief Executive Officer for a number of public and private software companies, including TSX-listed Promis Systems Corporation from 1995 to 2000. Between 1981 and 1994 he held various sales and senior management positions in both Canada and Singapore with Digital Equipment Corporation.
In 1998 and 2005 he was a winner and finalist, respectively, of the Ernst and Young 'Entrepreneur of the Year Award' recognizing his contributions to Promis Systems Corporation and Certicom Corp.
Mr. McKinnon is a member of the Board of Directors of TSX-listed Constellation Software, Alt Software, and Mash Media, and a past director of TSX-listed Allstream, Promis Systems and Certicom. Mr. McKinnon is a graduate of McMaster University and attended the INSEAD Business School Advanced Management Program.
"We continue to take steps to improve the strength of our board of directors by adding seasoned professionals with industry-specific expertise," said Martin Parent, Chairman of VendTek Systems Inc. "Ian brings a global viewpoint, substantial board experience, and a track record of driving growth to the table and we look forward to his contribution in the near term."
"VendTek's board and management team continue to focus on opportunities for the future and I look forward to playing a role in helping to drive growth as the Company launches new and innovative products," said Ian McKinnon.
VendTek today also announced that Mr. Paul Brock has resigned from the Board of Directors effective immediately. The Board and management team would like to thank Mr. Brock for his years of service and contribution to the Company.
VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers, its division, Now Prepay and its subsidiaries are using e-Fresh(TM) software to build electronic, prepaid services networks, which enable consumers to purchase prepaid services via POS and self-serve terminals connected to a central e-Fresh(TM) server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh(TM) reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.
This news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results or events to differ materially from the results or events predicted in this release, including those comments predicting the level of inventory overstatement and its material impact on the financial statements. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
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.
SOURCE VendTek Systems Inc.
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