SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwire - Nov 30, 2012) - Nesscap Energy Inc. ("Nesscap") (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that its Chief Executive Officer Dennis Orwig has left Nesscap, effective November 21, 2012, in order to take up new business challenges.
"We thank Dennis for his contribution to Nesscap and wish him well in his new opportunities" said Dr. Sunwook Kim, Chairman of Nesscap Energy Inc.
As an interim measure, the Board of directors of Nesscap has appointed Jim Zuidema, currently Nesscap''s Chief Financial Officer, to serve as Chief Executive Officer on an acting basis, as the Board reviews suitable candidates for the position.
Since its inception in 1999, Nesscap Energy Inc. has become an award winning global leader in technology innovation and product development of ultracapacitors. Attributes of the ultracapacitor allow for the technology to be used in applications where power, life cycle requirements or environmental conditions limit the suitability of batteries or capacitors. Uniquely structured, Nesscap products are used to replace or enhance the performance of energy and power needs for modern applications ranging from portable electronic devices to high-tech ''green'' cars and are available in both cells and modules. Nesscap features the widest array of standard commercial products in the market from 3 farads to 6,200 farads with industry recognized alternative organic electrolytes. Customers of the Company include transportation, power, and consumer markets. Technical and sales information can be found at www.nesscap.com.
Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.