Smart-Tek Solutions Inc.
OTC Bulletin Board : STTN

Smart-Tek Solutions Inc.

September 29, 2009 16:53 ET

Smart-Tek Appoints New Director and Issuance of Shares Under Marketing Partner Agreement

RENO, NEVADA--(Marketwire - Sept. 29, 2009) - Smart-Tek Solutions Inc. (the "Company") (OTCBB:STTN) announced today the appointment of a new director, Owen Naccarato effective today. Mr. Naccarato has for the last twelve plus years been a practicing attorney specializing in corporate and securities law. Prior to practicing law, Mr. Naccarato held various high level financial and operating positions with fortune 500 firms. Mr. Naccarato is a member of the California State Bar Association, the Orange County and the Los Angeles County Bar Associations and their respective corporate law sections. Mr. Naccarato has a J.D. from Western State University, an MBA from DePaul University and an undergraduate degree in accounting from Northern Illinois University.

The Company also announced today the issuance of 45 million restricted shares of the Company's common stock to Brina Bonar, a director of the Company. Mr. Bonar was issued the shares based on Mr. Bonar achieving certain milestone targets for annualized sales as set out in the Marketing Partner Agreement dated June 17, 2009 between the Company and Mr. Bonar.

About Smart-Tek Automated Services, Inc.:

Smart-Tek Solutions Inc.'s wholly owned subsidiary Smart-Tek Automated Services, Inc. was formed in February 2009, provides financial services to small and medium-size businesses, relieving its clients from many of the day-to-day tasks that impact their core business operations, such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing - staff leasing, temporary staffing and co-employment. We provide core services and a wide selection of employee and employer benefits and aftermarket products.

Forward Looking Statements

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment, the impact, if any, of stock-based compensation charges, the potential failure to establish and maintain strategic relationships, inability to integrate recent and future acquisitions, inability to develop new products or product enhancements on a timely basis, inability to protect our proprietary rights or to operate without infringing the patents and proprietary rights of others, and quarterly and seasonal fluctuations in operating results, and any inability to meet customer demands in connection with the Company's payroll services. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ('SEC'), including its annual report on Form 10-K for the year ended June 30, 2008, and its subsequent filings with the SEC.

Contact Information

  • Smart-Tek Solutions Inc.
    Brian Bonar
    President
    (604) 270-2084