VANCOUVER, BC–(Marketwired – May 18, 2017) – Apivio Systems Inc. (“Apivio” or the “Company”) (TSX VENTURE: APV) is pleased to announce that it appointed Ms. Elizabeth Park and Mr. Blake Corbet to the Company’s Board of Directors on May 17, 2017.
Ms. Park is the Vice President of Global Sales and Business Development at Nuri Telecom Limited (“Nuri”). She has helped Nuri expand its product offerings and technologies and sell to customers round the world since 2003. She is personally responsible for large deployments of Nuri’s Advanced Metering Infrastructure (AMI) systems in many European countries including Italy, Norway, Spain, Sweden, and UK.
Ms. Park has extensive background in international business and strategy. Prior to Nuri, she worked for international trading companies in Hong Kong and was responsible for generating sales and business opportunities between China and other Asian countries. She has a Bachelor of Science degree and an MBA from the University of Washington.
Mr. Corbet is a Managing Director at PI Financial Corp. (“PI”). He has been with PI since 2010 and provides investment banking advisory services to companies across a range of industries. He has more than 20 years of investment banking experience based in Vancouver, Toronto, London and New York.
Mr. Corbet began his banking career as an analyst at Haywood Securities in 1990. He joined Salomon Brothers in 1992 and worked at their offices in New York and London, England. Mr. Corbet then worked for CIBC World Markets in Toronto for 8 years. He returned to Haywood as Managing Director in 2004 and was primarily responsible for the firm’s banking coverage of the non-resource sectors. Mr. Corbet has an Economics Degree from UBC and is actively involved in the community.
Apivio also announced that Mr. Rob Bakshi, in cooperation with Nuri’s desire to restructure Apivio’s management team and directors, agreed to resign from his position as President and CEO of the Company and to step down from the Company’s board. Ms. Park has been appointed as interim President and CEO of the Company.
In addition, Mr. Tim Howley, Mr. Rob McJunkin, Mr. Jason Donville and Mr. David Shaw have resigned as directors of the Company effective immediately. The Board of Directors of Apivio would like to thank Mr. Bakshi and all the directors who have resigned for their contributions to the Company, including their support and cooperation during this transitionary period.
About Apivio Systems Inc.
Apivio is a Canadian technology company principally engaged in the design, development, marketing, and sale of communications equipment and software. It has a wholly-owned Korean subsidiary that supplies VoIP telephone equipment and other products to major Korean and international telecommunications carriers. For more information regarding Apivio, please refer to www.apivio.com and its respective public filings available at www.sedar.com.
This press release has been prepared by Apivio Systems Inc. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information, Contact:
Elizabeth Park
President and Chief Executive Officer
604-343-4200
David Pais
CFO
604-343-4207
[email protected]
