|By Marketwired .||
|April 28, 2014 08:31 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 04/28/14 -- ZENN Motor Company Inc. (TSX VENTURE: ZNN) "ZENN" or the "Company"), today announced that Roger Hammock has resigned as a director of the Company and as a director of the Company's subsidiary EEStor, Inc. ("EEStor")
James Kofman, Chairman of the board of directors of the Company, commented "On behalf of the board of directors, I would like to thank Roger for his contributions to ZENN and EEStor over the past three years. We thank Roger for his support and continued service as a director during the period following his decision to step down as Executive Vice-President, EEStor Relations in February, which has helped in the transition at EEStor." Ian Clifford, Founder and Vice-Chair of ZENN has been appointed to the Board of EEStor to fill the position on the EEStor Board. Stewart Somers a director of ZENN has assumed the role of Chairman of EEStor.
About ZENN Motor Company Inc.
The Company's goal is to be the provider of leading edge power storage solutions and related technologies. Through its 68% ownership of EEStor, ZENN is involved in the development of electrical energy storage units (EESUs) based on capacitors. Further, through its technology agreement with EEStor, ZENN has the exclusive rights to utilize the technology, if developed, in most vehicle applications.
EEStor's energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be established. There are significant risks associated with the development of new technologies such as EEStor's energy storage technology and readers are directed to the "Risk Factors" disclosed in ZENN's most recent Annual Information Form filed on SEDAR.
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.
ZENN Motor Company Inc.
Chief Financial Officer
416-535-8395 ext. 220