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Eurocontrol Appoints Dennis Logan to the Board of Directors
TORONTO, ONTARIO--(Marketwired - June 30, 2015) -
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Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, is pleased to announce that it has appointed Dennis Logan to the Company's board of directors and as Chairman of the Audit Committee to replace the vacancy left by James Fairbairn who did not stand for re-election at the Company's annual and special meeting of shareholders held June 25, 2015. The Company has granted Dennis Logan 375,000 options exercisable at $0.13 for a period of five years.
Dennis Logan is a Director and the Chief Financing Officer for Almonty Industries Inc., a TSX Venture Exchange listed company that is involved in the production of Tungsten. Prior to joining Almonty in 2011, Dennis Logan spent 13 years in the investment banking community where he held a number of senior management positions including Managing Director, Investment Banking at Desjardins Securities Inc. from 2007 to 2011 and Director, Investment Banking at Westwind Partners Inc. and Partner at Loewen Ondaatje McCutcheon Limited. He received both his BA (1991) and his MBA (1994) from the University of Toronto. He is a Chartered Accountant and a Member of the Institute of Chartered Accountants of Ontario.
The Company is also pleased to report that at the annual and special meeting of shareholders held June 25, 2015, Bruce Rowlands, Gadi Gonen, Sir Michael Rose, Kenneth Wawrew, Paul Wood and Eli Zahavi were re-elected as directors of the Company, Zeifmans LLP Chartered Accountants were appointed as the Company's auditors and shareholders also re-approved the Company's stock option plan.
Bruce Rowlands, Chairman and CEO stated, "We are pleased that Dennis Logan has agreed to join the Board of the Company. His public company and investment banking experience will be a great asset to Eurocontrol. We would also like to take this opportunity to thank Jim Fairbairn for his contribution over the past three years as director and audit committee chair. We wish him the best in his future endeavours."
About Eurocontrol Technics Group Inc.
Eurocontrol through its three wholly owned subsidiaries, Global Fluids International S.A. ("GFI"), Xenemetrix Ltd. ("Xenemetrix") and XwinSys Ltd. ("XwinSys"), is a leading provider and innovator of detection and marking systems worldwide. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry and XwinSys is currently a development stage company. GFI's unique and proprietary liquid authentication system, Petromark™, is the world's leading solution for fully integrated oil marking, mixing and detection. Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence ("ED-XRF") systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. XwinSys is developing technology and intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel with Xenemetrix's ED-XRF technology for application in the semi-conductor manufacturing process.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
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