SOURCE: BIO-key International, Inc.

BIO-key International, Inc.

December 04, 2015 08:00 ET

BIO-key Adds Two New Directors to Its Board

WALL, NJ--(Marketwired - Dec 4, 2015) -  BIO-key International, Inc. (OTCQB: BKYI), a global leader in fingerprint biometric identification solutions, advanced mobile authentication and identity assurance technologies, today announced that it has added two new Directors to its Board. 

"As part of our recent financing and strategic license arrangements and to support BIO-key's future growth and development, we have expanded our Board of Directors to include Mr. Wong Kwok Fong (Kelvin) and Mr. Yao Jianhui," stated Mike DePasquale, BIO-key Chairman and CEO. "Messrs. Kwok Fong (Kelvin) and Jianhui have the ideal experiences and talents to help guide and promote BIO-key through this very exciting time. We are proud and fortunate to have such deep and influential resources that will help expand our global footprint and provide access to new high growth markets, including electronic and mobile payments."

Mr. Wong Kwok Fong (Kelvin) is the former Chairman and co-founder of China Goldjoy Group (previously World Wide Touch Technology Holdings Limited) and currently serves as its Chief Technology Officer. Mr. Wong founded China Goldjoy in 1997 and played a significant role in the substantial growth of the business Mr. Wong brings over 14 years of senior management experience in manufacturing, supply chain, and marketing functions in the electronics and technology industries, including establishing manufacturing plants in Hong Kong and China, and building an extensive network in the electronics and technology industry. Mr. Wong is currently responsible for the technology development of China Goldjoy Group, with a primary focus on the biometric payment business and infrastructure.

Mr. Yao Jianhui is Executive Chairman of the Board and Chief Executive Officer of the China Goldjoy Group Ltd. Mr. Yao has held senior management positions with a number of enterprises and listed companies across a wide range of industries including food, construction materials, real estate, commerce, agriculture and forestry, logistics, technology and finance. From July 2010 to October 2014, Mr. Yao was the General Manager and Chairman of the Board of Directors of Baocheng Investment Co. Ltd., a company listed on Shanghai Stock Exchange principally engaged in the manufacturing of cables as well as the hotel and trading business. From June 2006 Mr. Yao also served as the Chairman of the Board of Directors of Baoneng Holding Co. Ltd., a company principally engaged in property development. Mr. Yao has deep experience in the technology and manufacturing industries, including managing a cable manufacturer which provides products for high speed trains.

"Well capitalized, with new Board leadership, I believe BIO-key is well positioned to address the growing demand for secure and convenient access to information and physical assets across many markets around the globe," concluded DePasquale.

About BIO-key (www.bio-key.com)
BIO-key International, Inc. develops and delivers advanced fingerprint biometric identification solutions to commercial and government enterprises, integrators, and application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are embedded in OEM products and applications and used in some of the world's largest identification deployments to improve security, guarantee identity, and reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world.

BIO-key Safe Harbor Statement
Certain statements contained in this press release and in other public statements by the Company and Company officers include or may contain certain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "anticipate," "believe," "estimate," "will," "may," "future," "plan," "intend" and "expect" and similar expressions generally identify forward-looking statements. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Although we believe that our plans, intentions and expectations reflected in the forward-looking statements are reasonable, we cannot be sure that they will be achieved. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions and partner relationships; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition with companies in the biometric technology industry; market acceptance of biometric products generally and our products under development; delays in the development of products and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption "Risk Factors" in our 2014 Annual Report on Form 10-K filed with the S.E.C. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. Except as required by law, we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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