WELLAND, ONTARIO--(Marketwire - Oct. 1, 2012) - CRS Electronics Inc. ("CRS" or the "Company"), (LED.V), a developer and manufacturer of LED lighting, today announced the appointment of Mr. Michael Lam to the position of Chief Financial Officer effective immediately. Mr. Lam replaces the Company's Interim Chief Financial Officer, Mr. Paul Haber.
"We would like to thank Paul for his dedication to CRS both at the Board level and for stepping in to the position as interim CFO in May 2010. We wish him continued success in his future endeavors," said Scott Riesebosch, President of CRS Electronics. "We look forward to working with Michael and will benefit from his experience in the public markets."
Mr. Michael Lam is an experienced Chief Financial Officer having held this position with several public companies including Mega View Digital Entertainment Corp. and Canada Pacific Capital Corp. Since February 2009, he has been self employed in the business of consulting extensively on financial reporting and regulatory matters for public companies. He served as a Senior Manager of Mintz & Partners LLP, an audit, tax, consulting and financial advisory services firm from October 1997 to December 2007. He served as Senior Manager of Deloitte & Touche LLP from January 2008 to January 2009. Mr. Lam served as Group Accountant at Vive Synergies Inc., a manufacturer of special telephone products and as Manager at KPMG (Mauritius). He has been a Director of Mega View Digital Entertainment Corp. since May 2011 and Canada Pacific Capital Corp., since May 28, 2010. Mr. Lam is a Certified Public Accountant (Illinois), qualified as a Chartered Certified Accountant (U.K.) in 1993 and subsequently qualified as a Chartered Management Accountant (U.K.) in 1996.
CRS Electronics Inc., a Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor lighting such as LED replacement lamps, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS plans to be a major supplier of LED lighting solutions for a variety of applications to be developed by CRS on its own and in conjunction with its customers. CRS recently signed a license agreement with Eveready Battery Company Inc., a subsidiary of Energizer Holdings Inc., for CRS to manufacture a range of LED lighting products under the brand name Energizer(R). The CRS LED product line includes the MR16, GU10, PAR 20, PAR 30, PAR 38 and A19. Future products developed by CRS may also be considered by Energizer. (C) 2011 Energizer. Energizer, Energizer bunny design and related graphics are trademarks of Eveready Battery Company, Inc. and are used by CRS Electronics Inc. All other brand names are trademarks of their respective owners. Neither CRS Electronics Inc. nor Eveready Battery Company, Inc. is affiliated with the respective owners of their trademarks.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws which can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include availability of sufficient working capital for development and operations, availability of a qualified work force, availability of manufacturing equipment and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.