Cantronic Systems Inc.

Cantronic Systems Inc.

July 02, 2008 09:00 ET

Cantronic Appoints Mr. Benoit Chotard as Senior Vice President, Finance & Business Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2008) - Cantronic Systems Inc., ("Cantronic") (TSX VENTURE:CTS), is pleased to announce the appointment of Benoit Chotard, P.Eng., MBA, to the position of Senior Vice President, Finance & Business Development. The appointment takes effect immediately.

"We are delighted to welcome Mr. Chotard to Cantronic's management team. In preparation for the aggressive growth strategy Cantronic is in process of executing, we are confident his experience in corporate finance and management with various companies will help Cantronic executing our growth strategy", said Mr. James Zahn, president and chief executive officer of Cantronic Systems. "Mr. Chotard has more than 15 years of investment and public markets experience, including the conclusion of partnership agreements and business acquisition and integration, as well as raising capital. His expertise will strengthen the management team and assist Cantronic in implementing its growth strategy".

Prior to joining Cantronic, Mr. Chotard was Vice President, Corporate Finance at Leede Financial Markets. In this role, he advised institutional clients on investment opportunities and commercial transactions, including mergers, acquisitions and public and private funding. He also counselled companies on the various strategic issues related to carrying out their business plan.

From 1996 to 2003, Benoit was Vice President, Senior Financial Equity Analyst at National Bank Financial where he headed the high technology investment group. He held the position of Vice President and Chief Financial Officer at Victhom Human Bionics (TSX:VHB) from 2004 to 2006, where he evaluated target acquisitions, then integrated them and participated in financing the corporation.

The Board of Directors of Cantronic has asked Mr. Chotard to also serve, in the interim, as acting Chief Financial Officer. He replaces Valerie Ryan who has resigned to pursue other interests. We thank her for her contribution and wish her all the best. We also wish Jon Chynoweth, Executive Vice President, who recently resigned all the best.

About Cantronic

Cantronic manufactures, distributes, and provides training and services in the fields of infrared vision and video security surveillance technologies, specializing in passive and active infrared cameras, infrared illuminators, low light infrared sensitive CCD cameras and long-range night vision surveillance systems for demanding homeland security and surveillance application.

Cantronic, through its US subsidiary QWIP Technologies, Inc. ("QWIPTECH"), holds a worldwide, exclusive license from the California Institute of Technology ("Caltech") to produce and sell infrared detectors and sensors based on Caltech's Quantum Well Infrared Photodetector technology.

Cantronic is a Tier 1 issuer on the TSX-V exchange, trading under the symbol CTS. For further information about Cantronic and QWIPTECH, please visit our websites at and

Safe Harbor Statement

The Securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Forward-looking statements contained in this press release involves known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Cantronic to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

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

Contact Information