TORONTO, ONTARIO--(Marketwired - April 18, 2017) - AirIQ Inc. (TSX VENTURE:IQ) today announced the appointment of Paul Hart as Chief Financial Officer of the Company.
Mr. Hart has over twenty-five years of experience in the C-Suite as Chief Financial Officer and Corporate Secretary for public companies (TSX, NASDAQ), spanning the clean technology, software, internet, venture capital and financial services industries. He has been responsible for strategic planning, corporate governance, finance and operations, mergers and acquisitions, investor relations and fund-raising in capital markets in North America and Europe. He has sat as a director on both public and private company Boards, as well as Audit and Disclosure Committees. Paul holds a BA (Honors) in Life Sciences/Psychology and an M.B.A (Finance). Mr. Hart is also a CA, CPA and Chartered Director.
"We are very pleased that Paul has agreed to join AirIQ and share his knowledge and experience as the Company continues on its growth strategy," stated Mike Robb, President and Chief Executive Officer of the Company. "Paul's previous background with growing technology companies is expected to be extremely beneficial," continued Mr. Robb.
Mr. Hart's appointment as Chief Financial Officer of the Company is effective immediately, but is subject to review and approval by the TSX Venture Exchange.
The Company also announced the grant of Options to Mr. Hart to acquire a total of 240,000 common shares in the capital of the Company at an exercise price of $0.17 per share. The term of the options is ten years from the date of grant and the options vest over a period of four years; 25% the first year and 6.25% each quarter thereafter. All other terms of the option grants are in accordance with the Company's Stock Option Plan, and the grant is subject to approval of the TSX Venture Exchange.
AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ is an intuitive web-based platform that provides fleet operators and vehicle owners with a suite of asset management solutions to reduce cost, improve efficiency and monitor, manage and protect their assets. Services are available online or via a mobile app, and include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. AirIQ's office is located in Pickering, Ontario, Canada. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
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.