SOURCE: Genesis Advantage Inc.

February 22, 2007 09:00 ET

Genesis Advantage Appoints New CEO

TORONTO -- (MARKET WIRE) -- February 22, 2007 -- Genesis Advantage Inc. (PINKSHEETS: GDVG) is pleased to announce the appointment of Brian J. Kennedy to the position of Chief Executive Officer effective immediately.

Mr. Kennedy brings several years of senior level public company experience to Genesis and has a strong background in technology, flat panel display and next generation solid state lighting experience in North America and Asia.

He has been the President of Kennedy and Associates which provides Business Development, Technology Licensing, Strategic Partnering and Distribution, Strategic Planning and Corporate Finance Services to companies with International potential.

Clients have included Hyundai LCD in Korea, ELAM-T in the UK and most recently as CEO to Norel Optronics, a University of Toronto spin-off with revolutionary nanomaterial technology for the OLED flat panel display and energy efficient flat panel solid state lighting industries. There, he has successfully implemented a commercialization strategy to reach 15 major Asian-based manufacturers such as Samsung, Pioneer, Au Optronics, Hitachi and LG Electronics and a strategic partnering relationship with Sumitomo for supply and distribution.

Previously Mr. Kennedy was President and CEO of Luxell Technologies Inc. where he led the company through its start-up, IPO and 10 years of sustained growth to become Canada's leading manufacturer and licensor of proprietary Flat Panel Display technologies to the consumer electronics, defense and aerospace industries. He successfully implemented a series of technology licensing and strategic partnering agreements with some of the most respected flat panel display makers in the consumer and industrial arenas including Philips, Hitachi, Tohoku Pioneer, Hyundai, Cambridge Display Technology, and Universal Display.

Brian Kennedy is a Chartered Accountant and holds a Bachelor of Business Administration Degree from York University. He is well recognized in the OLED industry which is predicted to be the next generation technology for flat panel displays and general lighting applications, a US$ 70 billion industry.

"I am extremely pleased have been selected to lead this emerging Company," said Brian Kennedy. "I have met with numerous shareholders who hold the controlling interest of Genesis and can say our vision and interests are well aligned. My strategies are supported and I look forward to implementing our new initiatives accordingly."

About Genesis Advantage:

Genesis is a publicly traded company formed to take advantage of unique, technological opportunities in the general lighting and energy conservation industries. The Company plans to pursue 3 core business strategies that positions the Company for sustainable long term growth in the escalating energy conservation sector. These strategies can be categorized under Distribution and Deployment, Product Acquisition and Product Development. Negotiations for new Initiatives supporting these strategies are underway and will be announced once formalized.

Forward-Looking Statements: Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. While these statements are made to convey the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual Company results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties.

Contact Information

  • For Further Information Contact:
    Genesis Advantage Inc.
    The Exchange Tower
    130 King Street West, Suite 1800
    Toronto ON Canada
    M5X 1E3

    Attention:
    Brian Kennedy
    CEO
    Telephone: 416 947 1900