NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 12, 2014) - ACT Aurora Control Technologies Corp. (TSX VENTURE:ACU) ("Aurora" or the "Company") is pleased to announce that the Board of Directors has appointed Michael Heaven as Executive Chairman effective January 1, 2014. Mr. Heaven will be responsible for strategic planning, budgeting, public market activities and other duties as designated by the Board of Directors. Mr. Heaven is a co-founder of the company and has served as the Chairman of the Board since April 2013. He spent 13 years with Honeywell and Measurex in senior roles responsible for measurement and control technology, has authored numerous patents and was instrumental in bringing a number of game-changing inventions to market. He has held C-level positions in a number of technology companies and has a proven record of delivering exceptional business results.
Aurora is also pleased to announce the appointment of Steve McDonald to Vice President, Business Development in recognition of the significant contribution he has made to the company. Steve has been instrumental in obtaining market qualification for the Decima CD and is playing a key role in the commercialization of the product line.
The Board of Directors has granted an additional 390,000 incentive stock options to directors, officers and employees for their contributions to the company. The exercise price of the options is set at $0.37 and will expire in five years. The stock options are subject to regulatory approval.
Aurora is also pleased to announce the shipment of a Decima CD and Aurora PMC to SIBCO BV, its partner in business development, marketing and installation of Aurora's inline measurement and control products in the People's Republic of China. This initial shipment is for demonstrations and product evaluations by potential customers in China, some of which are expected to commence in the first quarter of 2014.
ACT Aurora Control Technologies Corp. develops, manufactures and markets inline measurement systems for the photovoltaic industry. Headquartered in North Vancouver, Canada, and founded by experienced leaders in process measurement, semiconductor manufacturing and industrial automation, the Company's inline, real-time measurement and control products provide photovoltaic cell manufacturers with the means to lower production costs and increase profitability. The Company's shares are listed on the TSX Venture Exchange and trade under the symbol "ACU".
For more information, the Company's website is located at www.auroracontrol.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forwardlooking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. The Company does not assume the obligation to update any forwardlooking statement.