Active Control Appoints New Management and Adds Director to Board
21 September 2011 - 2:00PM
Marketwired
Active Control Technology Inc. (TSX VENTURE: ACT) ("Active" or the
"Company"), a leading provider in the design, manufacture and
marketing of both wireless and fiber network solutions for mine
communications, and the commercial security and access control
industries, announced today that, Jonathan Emanuel has been
appointed CEO of the Company and Graham Warren has moved to the
role of CFO of the Company on an interim basis. Active is also
pleased to announce that Michael Wolfe has agreed to join the Board
of Directors, subject to regulatory approval. Mr. Wolfe has been
appointed Chairman of the Audit Committee.
Jonathan Emanuel has been the CEO of PowerCart Systems Inc.
("PowerCart") since 2008 and during this period has grown both the
margins and revenues. Prior to PowerCart, Jonathan worked on the
successful restructuring and sale of a technology company for one
of the leading merchant banks in Toronto. Prior to this, Jonathan
worked in technology companies involved with software development
and/or consulting. During this period he was involved in multiple
transactions either integrating, acquiring or selling companies.
Jonathan has held a number of senior positions including CFO, CIO
and CEO. Mr. Emanuel has been intimately involved in the operations
of the Company for the last four months and has agreed to take on
the role of CEO.
Graham Warren has been a Director of Active since 2004 and was
the CFO of the Company until the fall of 2009 and took on the role
of interim CEO following the resignation of Cameron Sturgess in
December, 2010. Mr. Warren has handed the reins of the Company over
to Mr. Emanuel.
Michael Wolfe is currently VP Finance at Masstech Group Inc. He
is a finance professional with extensive experience in private
equity, business valuation and accounting, working primarily with
mid-market companies. Prior to joining Masstech, he worked at
several prominent private equity firms and two international
accounting firms. Mr. Wolfe is a Chartered Accountant (CA), a
Chartered Business Valuator (CBV) and has a Master of Business
Administration degree.
"Having worked closely with Jonathan Emanuel for the last four
months, I am pleased that he is taking on the responsibility of the
CEO of the Company. Jonathan will be able to devote his full-time
attention to integrating the operations of the Company and
PowerCart and realize on the tremendous synergies and business
opportunities available to the merged entities", said Graham
Warren, Active's CFO and former CEO. Jonathan Emanuel, the
Company's new CEO stated: "We are very pleased to welcome Michael
Wolfe to Active's Board. His broad financial experience and
background will be a tremendous asset to the Company and will fill
the void created by the resignation of Paul Jaggard." Jonathan
Emanuel further stated: "I look forward to taking on the challenge
of CEO for Active to realize the technological and revenue growth
available to the Company."
About PowerCart
PowerCart is the original industry founder of mobile power
solutions with a legendary reputation for reliability and on-time
delivery with over 30,000 units sold. PowerCart continues to lead
the industry in design and innovation, for solutions requiring
backup and mobile power. PowerCart offers all of its solutions in
the retail, warehousing, courier and mining sectors with a
bumper-to-bumper one year warranty - the best in the industry.
PowerCart has locations in Mississauga, Ontario, Canada, and
Medina, Ohio, USA. For more information, visit
www.powercart.com.
About Active Control Technology
Active Control Technology is involved in the design, manufacture
and marketing of both wireless and fiber network solutions for mine
communications, and the commercial security and access control
industries. The Company has two product lines: ActiveMine™, a fully
integrated wireless and/or fiber communications and locating
technology for underground coal mines, and ActiveSecure™, a family
of wireless products for the access control industry. Located in
Burlington, Ontario, Canada, Active Control Technology trades
publicly on the TSX Venture Exchange under the symbol ACT. For more
information, visit www.activecontrol.com.
Get more out of your mine.™
Cautionary Note Regarding Forward-Looking Statements: This press
release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially
from the statements made. When used in this document, the words
"may", "would", "could", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" and similar expressions are
intended to identify forward-looking statements. Such statements
reflect our current views with respect to future events and, as
such, are subject to risks and uncertainties. Many factors could
cause our actual results to differ materially from the statements
made, including those factors discussed in filings made by us with
the Canadian securities regulatory authorities. Should one or more
of these risks and uncertainties, such as changes in demand for and
prices for the products of the Company or the materials required to
produce those products, labour relations problems, currency and
interest rate fluctuations, increased competition and general
economic and market factors, occur or should assumptions underlying
the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned,
anticipated, or expected. We do not intend and do not assume any
obligation to update these forward-looking statements, except as
required by law. The reader is cautioned not to put undue reliance
on such 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.
Contacts: Active Control Technology Inc. Jonathan Emanuel CEO
905-670-5500 PowerCart Systems Inc. Jonathan Emanuel President
& CEO 905-364-0050 jemanuel@powercart.com www.powercart.com
Active Control Technology Inc. Graham Warren CFO 905-670-5500
gwarren@activecontrol.com www.activecontrol.com
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