|By Marketwired .||
|June 10, 2014 05:00 PM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 06/10/14 -- International Datacasting Corporation ("IDC") (TSX:IDC), a global leader in digital content distribution solutions for the world's premiere broadcasters, today announced candidates for election to the Board of Directors at the 2014 Annual General Meeting.
Two members of the Board of Directors, Mr. Graham McBride and Mr. Peter Strom, have advised IDC that they will not be standing for re-election at the upcoming annual general and special meeting scheduled for July 10, 2014 (the "Meeting"). As previously announced in January 2014, the Corporate Governance and Nominating Committee of IDC performed a search for new board nominees for election at the Meeting. The Committee has completed this search and has selected the following nominees who will be put forward for election at the meeting: Mr. David Charron and Mr. Eric Apps.
About David Charron:
Since February 2009, Mr. Charron is the Chief Financial Officer and Corporate Secretary of Redknee Solutions Inc., a publicly traded company on the Toronto Stock Exchange. Prior to joining Redknee in July 2007 as VP Financial Planning & Analysis, Mr. Charron held senior finance positions with Nortel Networks Corporation and The Descartes Systems Group. He was on the Board of Directors of Certified Management Accountants of Ontario (CMAO) from September 2011 to April 2014. Mr. Charron has a Bachelor of Engineering (Electrical) degree, as well as a Master of Business Administration degree, both from McMaster University in Hamilton Ontario. He is also a Chartered Professional Accountant (CPA,CMA) and is a licensed Professional Engineer in Ontario.
About Eric Apps:
Mr. Apps is a founding partner of Wildeboer Dellelce LLP, a Toronto based business law firm. His practice focuses primarily on early stage and emerging market technology issuers as well as incubators, angel networks, accredited investors, venture capital firms and investment dealers funding these issuers. He rejoined the firm in 2011 after being a director and President of Angoss Software Corporation, a Canadian predictive analytics systems vendor, from 1999 to 2010 where he was responsible primarily for direct and channel sales and business development activities. Mr. Apps is also the co-founder of Organimi.com, a Waterloo, Canada start-up formed in 2012 that provides cloud based org chart, photo board and connectivity solutions. Mr. Apps graduated from Western University (BA) and the University Of Toronto Faculty Of Law (LLB and LLM) and is a member of the Law Society of Upper Canada.
Joining Mr. Charron and Mr. Apps as nominees will be the following current members of the Board of Directors:
-- Mr. Chris van Staveren, currently Chairman of the Board and a Director since July 2013 -- Mr. Doug Lowther, IDC's President and CEO and a Director since May 2013 -- Mr. David Smith, a Director since March 2014
Commenting on the nominations, Mr. Chris Van Staveren, IDC's Chairman, said "Following a rigorous selection process, I am delighted that we have two outstanding candidates as nominees for election to our board. Both Dave and Eric have substantial experience in building technology businesses and I am confident that both will contribute significantly to IDC's future development and growth. In addition, I'd like to thank Peter Strom and Graham McBride for their outstanding contributions to IDC, both as board members and in their roles as Chair of the Corporate Governance and Nominating Committee and the Audit Committee respectively."
Further information regarding the Annual General Meeting will be detailed in IDC's management proxy circular, which will be mailed to shareholders on or about June 16, 2014. The circular will also be available at www.sedar.com at that time.
About International Datacasting Corporation:
International Datacasting Corporation (TSX:IDC) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television, data and digital cinema. IDC's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. For more information visit: www.datacast.com.
This press release contains certain information that may constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws, including statements as to the timing and closing of the Private Placement. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan or "project" or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that might cause actual results to differ materially include, but are not limited to: competitive developments; risks associated with IDC's growth; expectations regarding new product initiatives and timing, including the STAR Pro Audio(TM) Solution, LASER(TM) Targeted Ad Insertion Platform and TITAN-3 Video Encoder; any difficulties with integrating acquired product lines into IDC's business and/or manufacturing procedures; any difficulties or disputes with IDC's subcontractors, contract manufacturers and suppliers; IDC's dependence on the development and growth of the satellite services market; a lengthy and variable sales cycle for IDC's products and services; IDC's reliance on a small number of customers for a large percentage of its revenue; expectations with respect to the sufficiency of its financial resources and liquidity; regulatory risks and intellectual property infringement.
More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com, including, without limitation, IDC's MD& A for the year ended January 31, 2014, dated April 29, 2014.
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.
Doug Lowther, President and Chief Executive Officer
International Datacasting Corporation
+1 613 596 4120 ext. 2211