WINNIPEG, Jan. 29, 2018 /CNW/ - Novra Technologies
Inc. ("Novra") (TSX-V: NVI) announces that Steven Archambault, Chief Financial Officer
(CFO) for Novra and President & CFO for Novra's wholly-owned
subsidiary, International Datacasting Corporation (IDC), has
decided to leave his position in order to accept a senior finance
role at another company in a different market space. Mr.
Archambault will work closely with Novra management in coming
months to ensure a seamless transition. Meanwhile the company has
commenced a search for a new CFO to be based at corporate
headquarters in Winnipeg.
Harris Liontas, Novra's President
& CEO, will assume the role of President for IDC and direct its
sales performance and strategy. Patricia
Gair, Novra's Chief Operating Officer, will continue to
oversee IDC's R&D, operations and customer support.
Steven Archambault said, "I am
very grateful to have had the opportunity to work with Harris and
his team since Novra acquired IDC in June 2016. It has been a
great journey and with the recent controlling interest acquisition
of Wegener Corporation, I believe Novra's future is quite
promising. Having said that, it is the offer of a golden
opportunity to take a private company through an IPO that has led
to my decision to leave the Novra Group. I leave the company
financially and operationally sound at an exciting time in its
growth, and I look forward to helping with a smooth hand-off over
the coming months."
Harris Liontas, President and
CEO, commented, "We are very grateful to Steven for originally
agreeing to remain with Novra after the acquisition of IDC to help
us with the merger and assist in the Wegener deal. The past
18 months have been crucial for Novra and Steven's contributions
were invaluable as we restructured, refocused and created a
successful template we expect to apply to future
acquisitions. I also appreciate Steven's commitment to
assist with a smooth transition over the next few months. We wish
him the very best in his new venture and I would like to pass along
my personal gratitude for his hard work, dedication and
professionalism."
About Novra Technologies Inc.:
Novra (TSX-V: NVI) is an international technology provider of
products, systems and services for the distribution of multimedia
broadband content. The Novra Group of companies includes
Novra, International Datacasting Corporation, and Wegener
Corporation. The companies in the group are known for a strong
focus on applications including: broadcast video and radio, digital
cinema, digital signage, and highly reliable data
communications.
For more information visit: www.novragroup.com
Forward-Looking Statements:
This press release contains "forward-looking
statements" within the meaning of applicable Canadian securities
laws. Forward-looking statements are generally
identifiable by words such as "expects", "anticipates", "believes",
"intends", "estimates", "predicts", "outlook", "potential",
"targeted", "plans" "possible", "poised for", and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be
achieved. These statements are not historical
facts but instead represent Novra's belief regarding future events,
many of which, by their nature, are inherently uncertain and
outside of Novra's control. It is possible that actual
results will differ, possibly materially, from the anticipated
results contemplated by these statements. Factors that could
cause actual results to differ, possibly materially, from those
forward-looking statements are disclosed in our periodic MD&A
filings on SEDAR at www.sedar.com.
For the above reasons, readers are cautioned not to place
undue reliance on forward-looking statements.
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.
Contact Information:
Harris Liontas
President & CEO
+1 204 989 4632
hliontas@novra.com
SOURCE Novra Technologies Inc.