H2O Innovation Announces the Departure of a Director and a New Chairman of the Board
June 30 2009 - 8:00AM
Marketwired
H2O Innovation Inc. (TSX VENTURE: HEO)(ALTERNEX: MNEMO:ALHEO) ("H2O
Innovation" or the "Company") announces that Mr. Guy Goulet has
informed the Company of his intention to resign from his position
as Chairman of the Board of Directors and Director of H2O
Innovation. His resignation is effective immediately. Mr. Goulet
had been Chairman of the Board since the Company's founding. He
will continue to collaborate with the Company in identifying and
evaluating international sales and development opportunities.
"On behalf of the Board and on my own behalf, I wish to thank
Guy for all he has done to help the Company grow over the years. He
has been with the Company since its founding, playing a key role in
securing the early funding that was essential to startup and
implementation of our business plan. We are very grateful for all
the effort and enthusiasm he has brought to his work," stated
Frederic Dugre, President and CEO of H2O Innovation Inc. The
Company does not intend to replace Mr. Goulet on the Board.
H2O Innovation also announces that the Directors have appointed
Mr. Philippe Gervais as the Company's new Chairman of the Board of
Directors. He will fill the position effective immediately.
Vice-Chairman of the Board, Mr. Gervais has been a Company Director
since December 2001 and has also served on the Board's various
committees over the course of this period.
Philippe Gervais graduated from the University of Montreal in
1988 with a Bachelor of Science in Economics. From 1990 to 1993, he
worked for the Minister of National Revenue as Special Assistant
responsible for the implementation of the GST. His government
service continued with positions as Executive Assistant to the
Federal Minister of Public Works and Government Services and then
as Political Attache to the Deputy Premier and President of
Treasury Board of Quebec. In 1995, Mr. Gervais joined the Capital
Hill Group, a government relations firm, as a senior consultant. He
also advises a handful of private and public companies as a member
of their Boards of Directors. His vast experience, excellent
reputation, and impressive track record make him a prized strategic
consultant among Canadian and American business and political
decision makers.
Following this announcement, H2O Innovation's Board of Directors
is now composed of John G. Booth, Frederic Dugre, Andre Duquenne,
Philippe Gervais, Richard A. Hoel, and Elaine C. Phenix.
About H2O Innovation
Exclusively dedicated to water treatment, H2O Innovation is
establishing itself as a key player in sustainable development and
the field of clean technologies. H2O Innovation designs, develops,
produces, and integrates state-of-the-art water treatment systems
for the production of drinking water, the reclamation of water, the
treatment of wastewater and industrial processed water in the
municipal, commercial, pharmaceutical, industrial, mining, and
energy markets. H2O Innovation has approximately 100 employees and
eight offices including two manufacturing and assembly plants in
Canada and the United States. Shares of H2O Innovation are listed
on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext
Alternext Exchange (MNEMO: ALHEO).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the Alternext Exchange accepts responsibility
for the adequacy or accuracy of this release.
Contacts: H2O Innovation Inc. Guillaume Ducharme 418-928-0234
guillaume.ducharme@h2oinnovation.com www.h2oinnovation.com
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