CERRITOS, CA, Oct. 20, 2015 /CNW/ - Omni-Lite Industries Canada
Inc. (the "Company" or "Omni-Lite") (TSXV:OML) (OTCBB:OLNCF) is
pleased to announce the appointment of Mr. Roger Dent to replace Mr. Norman Goodrich on the Board of Directors. Mr.
Dent will also take Mr. Goodrich's position on the audit committee
of Omni-Lite. Mr. Roger Dent is
the Chief Executive Officer of Quinsam Capital Corporation and is a
director of Quinsam Opportunities I Inc., Quia Resources Inc. and
ACUITYAds Inc. Mr. Dent also serves as a Director of
California Nanotechnologies Corp., a company founded by Omni-Lite
in 2005, and as a member of the advisory board of Energex Petroleum
Inc. From 2003 to 2011, he has held various positions
including portfolio manager with Matrix Fund Management Inc., where
he managed the Matrix Strategic Small Cap Fund and the Matrix Small
Companies Fund. He was formerly vice-chairman of one of
Canada's largest independent
investment dealers and was managing director and deputy manager of
research at CIBC World Markets. He has a Masters of Business
Administration from Harvard Business
School and a Bachelor of Commerce degree from Queen's
University.
Mr. Goodrich has been a member of the Board since near the
Company's inception and as such has made a very significant
contribution to the Company's success. Mr. Goodrich will
continue his efforts to support the Company as a consultant.
"The Company thanks Mr. Goodrich for his invaluable guidance over
the years and wishes him every success in his future endeavours,"
stated David F. Grant, Chairman of
the Board and CEO.
Pursuant to its stock option plan and in accordance with the
policies and approval of the TSX Venture Exchange, the Board of
Directors has approved a grant of 50,000 stock options to Mr. Dent.
These options vest equally over a period of 3 years and are
exercisable on or before October 19,
2020 at an exercise price of $1.98 per share.
"I have been an investor in and have followed the progress of
Omni-Lite for many years," stated Mr. Dent. "Given
Omni-Lite's robust performance and business outlook and the
strategic review process now underway, it is a very interesting
time to be joining the effort to help the Company achieve
success."
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures precision
components utilized by Fortune 500 companies including Boeing,
Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, Nike,
and adidas.
Except for historical information contained herein this
document contains forward-looking statements. These statements
contain known and unknown risks and uncertainties that may cause
the Company's actual results or outcomes to be
materially different from those anticipated and discussed
herein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Omni-Lite Industries Canada Inc.