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Vuzix Appoints Timothy Harned to its Board of Directors

ROCHESTER, N.Y., June 19, 2017 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, is pleased to announce that Timothy Harned has joined its Board of Directors and Paul Boris, who resigned from the Board on May 8, 2017 when he joined the Company as its Chief Operating Officer, has been re-appointed to the Board of Directors.

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Mr. Tim Harned is an investment banking, corporate development, and financial advisory veteran with more than 30 years of experience in mergers & acquisitions and related activities.  Mr. Harned is also a technology specialist with more than twenty years of experience in various technology fields and another ten years working with consumer and industrial companies.  Mr. Harned is currently the Founder and Managing Partner of 8Nineteen Advisory, LLC (www.8nineteen.com) where he serves as a strategic consultant and provides financial advisory services, with a specialty in mergers and acquisitions and corporate and business development.  He began his career at Lehman Brothers within the mergers and acquisitions group and later joined Banc of America Securities where he became a Managing Director.   Mr. Harned subsequently joined Morgan Stanley & Co., where he served as an Executive Director focused on merger and acquisition advisory for technology companies.  Mr. Harned also spent more than five years with Capstone Partners LLC as a Managing Director before joining AGC Partners, where he was a Partner for more than six years.

"As Vuzix business relationships continue to expand, the importance of adding a trusted advisor with experience in strategy, M&A, and general business transactions to our Board is very valuable, and we are delighted to have identified such an outstanding individual to help serve our stockholders.  We are confident that Tim will have a positive impact on our Company," said Paul Travers, President and CEO of Vuzix.                 

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 51 patents and 39 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to applicability and benefits of Mr. Harned's prior experience to Vuzix, and among other things, the Company's leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Matt Margolis, Director of Corporate Communications and Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5952

Andrew Haag, Managing Partner, IRTH Communications
[email protected] Tel: (866) 976-4784

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – [email protected] www.vuzix.com

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SOURCE Vuzix Corporation

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