Atlantis Systems Corp.
TSX VENTURE : AIQ.H

Atlantis Systems Corp.

February 17, 2012 09:25 ET

Atlantis Systems Corp. Appoints New Chief Executive Officer

BRAMPTON, ONTARIO--(Marketwire - Feb. 17, 2012) - Atlantis Systems Corp. (NEX:AIQ.H) today announced the appointment of Ken Howard, as Chief Executive Officer of the Corporation effective March 6, 2012. Ken replaces Henrik Noesgaard who will remain Chairman of the Board of Directors for a period of time.

Ken was General Manager of CAE Atlantic from 2009, where he directed and coordinated all activities associated with programs within the Military Training Products and Simulation Division. Prior to his tenure with CAE, Ken was xWave's Program Director for the Maritime Helicopter Program until his division was purchased by CAE.

Ken graduated from Dalhousie University with Bachelor Degrees in Mathematics/Computing Science, and Arts/History. He is also a Board member and Vice-President of Government Relations for the Aerospace and Defence Industry Association of Nova Scotia (ADIANS).

"Ken was the unanimous choice of the Board of Directors, and our major shareholder ComVest Capital LLC, as his extensive experience in the aerospace and defence industry makes him the ideal candidate to lead Atlantis into the future", said Henrik Noesgaard, previous CEO and Chairman of the Board. "Ken has a proven track record in leadership and we are looking forward to working with him. The Board is confident that Ken has the vision and passion to take Atlantis to the next level of success. Ken has been tasked with continued execution of the strategy to promote Atlantis as a total training solutions provider, which includes the physical trainers that ASI designs and manufactures, and the e-learning tools that ASE designs and delivers. Ken will also be a member of the Atlantis Board of Directors.

"I am very excited about the opportunity presented in leading Atlantis as the company is well positioned to move forward to a new and promising level", said Ken Howard. "I also look forward to being a member of the distinguished Board of Directors".

"The Board of Directors would like to thank Henrik for his service as CEO to the Corporation", said David Williams on behalf of the Board. "We appreciate that he also provided hands-on leadership of the Eduplus division while a permanent replacement was sought. The Board is pleased that Henrik will remain as Chairman to ensure a smooth transition for Ken, and provide continuity for the overall vision and leadership of the Corporation."

About Atlantis Systems Corp.

Atlantis Systems (NEX:AIQ.H) uses its core capabilities in simulation-aided design and engineering and e-learning, combined with various technology tools, to help customers in military aviation and civil aviation ensure the feasibility, capability, and effective utilization of their complex assets. In more than 30 years of operation, Atlantis has developed a solid reputation for its creative workforce and innovative solutions in supporting global OEM customers and defence organizations. To learn more, please visit the Company's web site at www.atlantissi.com.

About ComVest Capital LLC

The ComVest Group is a private investment firm that provides debt and equity capital to lower middle-market companies. Our firm includes seasoned investors and senior-level operating executives who partner with managers and owners of companies to generate growth and create long-term value. Since 2000, ComVest has invested more than $1.3 billion of capital in over 100 public and private companies. Please visit www.comvest.com.

Contact Information