Xentel DM Incorporated

Xentel DM Incorporated

April 14, 2010 00:56 ET

Xentel Announces Board of Director Changes

CALGARY, ALBERTA--(Marketwire - April 14, 2010) - Xentel DM Incorporated (Xentel) (TSX VENTURE:XDM) are pleased to announce the restructuring of the Xentel Board of Directors. At the Board of Directors meeting held April 13, 2010, pursuant to the Share Exchange Agreement of March 4, 2010, Messrs. Bernard Amyot, Frank McAleer, Barry Sattell and Herb Wodehouse resigned from the Board and Messrs. Jim Ambrose, Richard Reid and Michael Neuman were appointed to the Board. These appointments are subject to confirmation at the next Shareholders' Meeting.

Members of the Board of Directors of Xentel DM Incorporated are now Michael Platz, David Winograd, Jim Ambrose, Richard Reid, Michael Neuman and Andrus Wilson. Mr. Platz will be the Chairman of the Board and Andrus Wilson will be the Chair of the Audit Committee working with Michael Neuman and Jim Ambrose on that committee.

Jim Ambrose is a founding partner of The Shotgun Fund, The Bridge Fund and The Succession Fund and has acted as CFO of several small companies, been an equity analyst, a consultant to pension plan sponsors, and managed special projects in the retail industry. He has invested in numerous small companies. Jim has taught at the Universities of Waterloo and Toronto and co-authored the first Chartered Financial Analyst text, "Managing Investment Portfolios". He joined Argosy Partners in 1999.

Richard Reid was a partner of Gordon Capital from 1983 to 1995 and also managed the Canadian Mezzanine Fund, which specialized in private company financing. In 1995 Richard formed Argosy Partners to invest in small and mid-sized Canadian businesses. He was a founding partner of The Shotgun Fund, The Bridge Fund and The Succession Fund.

Michael Neuman is Managing Director of Elevest Corporation, a consulting firm engaged in the provision of capital and management resources to early stage companies. Mr. Neuman has enjoyed a twenty-five year C-level executive career in roles spanning business and consumer services in North America and Europe, in companies ranging from start-up to Fortune 500 in satellite TV, Internet and wireless. His previous President or CEO positions include EchoStar Corp., Bell Mobility, Bell ExpressVu, iaxis inc., Teleglobe, WorldLinx Telecom, Cerberus Inc. and V Band Corporation.

Michael Platz noted, " The outgoing Board provided great strength to the Company and its development while assisting us through some difficult times. We thank these gentlemen for their contribution of time, guidance and wisdom. At the same time we are looking forward to working with the new Board in the next phase of the Company's development."

Certain statements in this press release may constitute "forward looking statements" reflecting our current beliefs, plans, estimates and expectations. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or the combined companies to be materially different from any performance or achievement expressed or implied by such "forward looking statements". Except as required by applicable securities laws, we undertake no obligation to update any forward looking statements for any reason after the date hereof to conform these statements to actual results or to changes in our expectations.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Xentel DM Incorporated
    Corporate Office West
    3710 Westwinds Dr NE, Bay 24
    Calgary, AB T3J 5H3
    403-270-4398 (FAX)
    Xentel DM Incorporated
    Corporate Office East
    8000 Jane St Tower A, Suite 401
    Concord, ON L4K 5B8
    416-633-4643 (FAX)
    Xentel Inc.
    101 NE Third Ave, Suite 203
    Ft. Lauderdale, FL 33316
    954-524-5183 (FAX)