Kinetex Resources Corporation

Kinetex Resources Corporation

August 11, 2009 15:18 ET

Kinetex Announces Board Changes and Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2009) - Kinetex Resources Corp. (TSX VENTURE:KTX) (the "Company" or "Kinetex") is pleased to announce the appointments of the Honorable John D. Reynolds and Dr. Sayed-Amr ("Sisso") El-Hamamsy to the Board of Directors.

Mr. Reynolds has had a distinguished 25 year career as an elected member for both the B.C. Provincial Assembly and Federal Parliament. In B.C., he served as the provincial Minister of Environment during his 1987 term. He was elected by the caucus as the Leader of the Official Opposition in the Canadian Parliament in 2004, and co-chaired the successful conservative campaign in 2006 when Stephen Harper was elected Prime Minister. He retired from political service in 2006, and joined Lang Michener LLP as a Senior Strategic Advisor. Mr. Reynolds has a strong interest in international business and serves on the Boards of several public and private companies including ARA Safety Inc., Calibre Mining Corp., Cathay Forest Products Corp., Encanto Potash Corp., Rusoro Mining Ltd., Svit Gold Corp. and Terrane Metals Corp.

Dr. El-Hamamsy received his PhD from the California Institute of Technology in EE and Computer Science in 1986. He worked at the GE Corporate Research and Development Center for 15 years in the areas of Lighting, Magnetic Resonance Imaging and Enterprise Software. He then joined Wi-LAN as Chief Operating
Officer and was promoted to President and CEO. Under his guidance Wi-LAN became a founding member of the WiMAX Forum, changed the US FCC regulations in the 2.4GHz band which enabled the introduction of WiFi 802.11g products and was the leader in developing the standard for future broadband wireless access. During that period, Wi-LAN introduced many new products and demonstrated non-line of sight and mobile communications capabilities that were well ahead of the industry's capabilities. He also achieved the first quarters of positive cash flow in the history of the company. After he left Wi-LAN he co-founded Innovative Products for Life, a company dedicated to marketing, selling and developing innovative consumer products. He also founded SRD Innovations which is developing wireless broadband products for the Oil and Gas Industry. Dr. El-Hamamsy has numerous publications, has received 43 US patents and has led the development of many products from concept to production, in Lighting, MRI, and Wireless Broadband Technology.

Both Mr. Reynolds and Dr. El-Hamasy will serve as independent members of the Board.

The Company also announces the resignation of Mr. Bill Calsbeck as a Director. The Board is very appreciative of Mr. Calsbeck's contributions to the Company over the past four years. Mr. Calsbeck will remain available to the Company in a consulting capacity.

About Kinetex

Kinetex is an oil, gas and mineral exploration services company with offices in Vancouver, BC, Calgary, Alberta and Bogota, Colombia. Through its subsidiaries, Kinetex provides data-rich high resolution subsurface images - essentially a brand-new exploration tool - to the energy, metals and minerals exploration and development industries seeking to go beyond the limitations of traditional data acquisition methods.

The company seeks safe harbour.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

Contact Information

  • Kinetex Resources Corporation
    Gil Schneider
    Chief Executive Officer
    604-484-5761 or Toll Free: 1-888-484-5761
    604-484-5760 (FAX)