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Wi2Wi Names Prakash Hariharan as Vice Chairman of the Board and Interim CEO
|By Business Wire
|March 17, 2014 09:00 PM EDT
Wi2Wi Corporation ("Wi2Wi" or the "Company") (TSX-V:YTY) is pleased to
announce that it has appointed current board member Prakash Hariharan as
Vice Chairman and interim CEO of the Company.
“We are excited to have Mr. Hariharan take on greater responsibility in
supporting Wi2Wi’s strategic vision. In his short tenure as a Company
director, Mr. Hariharan has leveraged his capital markets experience to
assist Wi2Wi in its goal of expanding its global reach and identifying
growth opportunities. We believe Mr. Hariharan’s strong commitment to
Wi2Wi’s mission will create further value for shareholders and provide a
focused approach for Wi2Wi’s continued business success,” stated Dr.
Hans Black, Chairman of Wi2Wi.
The Company has also announced that Dr. Reza Ahy has stepped down as CEO
of the Company. “The Board would like to thank Dr. Ahy for his
contributions to Wi2Wi during his tenure, and wish him success in his
future endeavors,” said Dr. Black.
Prakash Hariharan was formerly a portfolio manager at Front Street
Capital focusing on Growth and Income Strategies in the yield space with
a focus on technology and agriculture investments. Mr. Hariharan also
spent time at Dominion Bond Rating Services, analyzing and rating
structured investment products. He holds a financial engineering degree
from York University, an MBA from the Schulich School of Business, and
an undergraduate degree in chemical engineering.
For further information, please contact:
Chief Operating Officer
Forward-Looking Statements: This news release contains certain
forward-looking statements, including management's assessment of future
plans and operations, and the timing thereof, that involve substantial
known and unknown risks and uncertainties, certain of which are beyond
the Company's control. Such risks and uncertainties include, without
limitation, risks associated with oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, imprecision of
reserve estimates, environmental risks, competition from other
producers, inability to retain drilling rigs and other services, delays
resulting from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external sources,
the impact of general economic conditions in Canada, the United States
and overseas, industry conditions, changes in laws and regulations
(including the adoption of new environmental laws and regulations) and
changes in how they are interpreted and enforced, increased competition,
the lack of availability of qualified personnel or management,
fluctuations in foreign exchange or interest rates, stock market
volatility and market valuations of companies with respect to announced
transactions and the final valuations thereof, and obtaining required
approvals of regulatory authorities. The Company's actual results,
performance or achievements could differ materially from those expressed
in, or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do
so, what benefits, including the amount of proceeds, that the Company
will derive there from. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and other
factors that could affect the Company’s operations and financial results
are included in reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com).
This news release contains “forward-looking statements” within the
meaning of applicable securities laws relating to, among other things,
the Proposed Transaction. Readers are cautioned not to place undue
reliance on forward-looking statements. Actual results and developments
may differ materially from those contemplated by these statements.
Completion of the Proposed Transaction described herein is dependent on
a number of factors and is subject to a number of risks and
uncertainties, and it is not certain that the Proposed Transaction will
be completed. Factors that could cause actual results to differ
materially include, but are not limited to, changes in the Company`s or
Wi2Wi’s business, general business, economic and competitive
uncertainties and delay or failure to receive board, shareholder or
Forward-looking statements are made based on management’s beliefs,
estimates and opinions on the date the statements are made and the
Corporation undertakes no obligation to update forward-looking
statements and if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law. All
subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news
release are made as at the date of this news release and the Company
does not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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