SOURCE: Dussault Apparel, Inc.

Dussault Apparel, Inc.

August 02, 2011 16:21 ET

Dussault Apparel Inc. Appoints Two New Members to the Board of Directors

Undertakes Comprehensive Review

VANCOUVER, BC--(Marketwire - Aug 2, 2011) - Dussault Apparel Inc. (OTCQB: DUSS) (OTCBB: DUSS) announced today the appointment of Ms. Maria Kostakou and Ms. Myung-Ah Melanie Kim to the Board of Directors.

Ms. Kim graduated in May 2011 from the Fashion Institute of Technology, State University of New York, with a Bachelor of Science Degree, Fashion Merchandising Management (Product Development) and in May 2009 she received an Associate in Applied Science Degree, Fashion Merchandising Management. She was a member of the Dean's list for 2008-2009 and 2009-2010. She graduated from the Institut Superieur Europeen du Management de la Mode in Paris, France with a Bachelor of Science, Fashion Marketing and Merchandising degree. She was a member of the Dean's list for 2006 and 2007 and is Fluent in English, Korean, and French.

Ms. Kostakou holds a Bachelor of Arts degree from the University of British Columbia. Currently she is a teacher with the Canadian International Organization in Guangzhou, China. Previously she was in logistics management for B-Tech S.A., a Greek corporation where she was involved in logistics coordination for customer and supplier orders, inventory management, liaison with international forwarders and customs brokers. She is fluent in Greek and English.

Jason Dussault, President and CEO of Dussault Apparel, commented, "I am happy to announce the appointment of Ms. Kim and Ms. Kostakou to our Board. The Company is facing significant challenges; the current year's lackluster revenue, recent changes of policy of the Pension Financial Services regarding the clearing of stocks priced below $0.10 and the new XBRL financial reporting requirement are hurdles the Company must overcome. It is the intent of the Company to form a committee to undertake a comprehensive review evaluating the current business of the Company to determine its viability and the Company's direction. This review is intended to include current operations of the Company, including a review of assets and liabilities, the business operations of the Company, and its trademarks with a view to providing the officers, directors and management of the Company with a report and recommendations. Ms. Kostakou and Ms. Kim will head the committee which will undertake this review, and will be responsible to gather all information from legal, consultants and management and prepare a report with recommendations to the Company. I believe it is in the best interests of the Company and its shareholders The Company may also review new financing opportunities and possible acquisitions to enhance its asset value."

Dussault Apparel, Inc. is a designer, manufacturer, wholesaler and retailer of high-end quality apparel, its product line includes custom designed hoodies, jewellery, t-shirts, hats and leather goods.

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, Dussault's ability to design and manufacture its products, the ability of the products to gain market acceptance, and the difficulties faced by an early stage retail fashion company in the competitive retail fashion industry. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's recent current reports on Form 8-K, our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic and current reports filed from time to time with the Securities and Exchange Commission.

Contact Information

  • Dussault Apparel Inc.
    Investor Relations:
    1-877-331-8777