CALGARY, Sept. 12 /CNW/ - WellPoint Systems Inc. ("WellPoint") (TSXV:
WPS), a leading provider of software and related services for managing
critical operations within the energy industry, today announced that it has
appointed Mr. Stephen Massel as its new Chief Financial Officer, replacing Mr.
Bruce Petrie. Mr. Petrie will continue to assist the Company on a contract
"We are extremely fortunate to have an individual of Stephen's calibre
join WellPoint and we believe his significant experience with both the energy
and software sectors, as well as the capital markets, will play an important
role in the ongoing execution of our growth strategy," said Mr. Frank
Stanford, CEO of WellPoint Systems. "I would like to thank Bruce for his
significant contribution to WellPoint through an important phase in our
evolution and wish him well in his future endeavors."
Mr. Massel has more than 25 years of experience in progressively senior
financial roles, focused on finance, taxation, and strategic profitability and
cash flow initiatives, with both private and interlisted public companies.
Most recently he was the CFO of Avotus Corporation, a computer software and
services company. Prior to that, he held a series of roles with LaCoste &
Romberg-Scintrex, Inc., a manufacturer of sensors for the mining and oil and
gas industries. Mr. Massel's public company experience also includes time with
Battery Technologies Inc., and Lorus Therapeutics Inc. He holds a Bachelor of
Business Administration in accounting and has both his Chartered Accountant
and Certified Management Accountant designations.
The Company today also today announced the grant, subject to regulatory
approval, of stock options entitling the purchase for a period of five years,
of up to 640,000 shares of WellPoint at a price of $0.44 per share to certain
officers and employees of WellPoint and/or its subsidiaries. The options will
vest over a period of one to three years.
About WellPoint Systems Inc.
WellPoint Systems provides premier software and related services for
managing critical operations within the energy industry. Aligning tightly with
Microsoft Corporation, WellPoint is the only Independent Software Vendor (ISV)
and Microsoft Dynamics partner dedicated to the energy sector. It is breaking
new ground with the creation of a more comprehensive, integrated energy
software suite based on existing Microsoft ERP technology that utilizes
state-of-the-art Dynamics AX(R) and .NET architectures. WellPoint became a
Microsoft Gold Certified Partner in 2005.
Founded in 1997, Calgary-based WellPoint Systems also has major
operations in Houston, TX, Livingston, NJ, Tampa, FL, Tunis, Tunisia and
WellPoint is publicly traded on the TSX Venture Exchange under the symbol
This document contains forward-looking statements. Some forward looking
statements may be identified by words like "expects", "anticipates", "plans",
"intends", "indicates" or similar expressions. The statements are not a
guarantee of future performance and are inherently subject to risks and
uncertainties. The Company's actual results could differ materially from those
currently anticipated due to a number of factors, including, but not limited
to, successful integration of structural changes, including restructuring
plans, acquisitions, technical or manufacturing or distribution issues, the
competitive environment for the Company's products, the degree of market
penetration of the Company's products, and other factors set forth in reports
and other documents filed by the Company with Canadian securities regulatory
authorities from time to time.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: WellPoint Systems Inc., Frank Stanford, Chief
Executive Officer, (403) 538-3604, email@example.com,
www.wellpointsystems.com; The Equicom Group Inc., Nick Hurst, Investor
Relations, (403) 538-4845, firstname.lastname@example.org, www.equicomgroup.com