NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2016) - Aurora Solar Technologies Inc. ("Aurora")("Company")(TSX VENTURE:ACU)(OTCBB:AACTF)(FRANKFURT:A82) is pleased to announce the addition of Mr. John McNicol to the Board of Directors effective immediately. Mr. McNicol is an executive with a proven track record of building high growth international companies from early start up through periods of substantial asset investment, rapid sales growth and significant shareholder value appreciation. Under Mr. McNicol's leadership several of these companies set new industry product standards by developing innovative technology and creating collaborations and strategic commercial partnerships with leading multinational companies in the Food, Pharmaceutical and Personal Care markets.
Mr. McNicol was formerly the President and Co-CEO of Enwave Corporation where he helped build the company's strategy, royalty revenue streams, licensing and collaboration agreements with leading global players. He raised more than $42 million in financing and improved the liquidity and market value from $8 million to $120 million. Before Enwave, Mr. McNicol held positions as President, COO and Director of Concert Industries Ltd. and Merfin International Inc, two leading airlaid non-wovens manufacturer's where he helped both companies arrange more than $400 million in financing to support capacity expansion in Canada, Europe and the United States and grew aggregate sales from less than $20 million to more than $200 million. Mr. McNicol was also with HSBC Securities, Pemberton Securities and LRJ Capital and has considerable experience in equity and investment banking.
"John joins Aurora just as we are experiencing record orders for our solutions and he will play a key role in helping us build and acquire the assets we need to grow and deliver shareholder value," said Michael Heaven, Chairman of the Board. "I am pleased to join Aurora as a Director during a period of rapid growth and technology advancement in the Solar industry. Michael and his experienced management team have demonstrated the vision and determination to create new technology which has attracted commercial interest from leading multinational Solar energy producers and should position Aurora as a quality solution industry leader in the years to come," said John McNicol.
In completing this appointment, the Company issued Mr. McNicol 300,000 options at November 22, 2016 closing market price.
Aurora Solar Technologies Inc. produces measurement and control solutions which allow solar cell producers to improve manufacturing yield, lower costs, decrease waste and attain higher margins. Headquartered in North Vancouver, Canada, and founded by experienced leaders in process measurement, semiconductor manufacturing and industrial automation, the Company's shares are listed on the TSX Venture Exchange and trade under the symbol "ACU". The Company was formerly "ACT Aurora Control Technologies". For more information, Aurora's website is located at www.aurorasolartech.com.
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Some statements in this news release contain forward-looking 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.