LX Ventures Inc.

TSX VENTURE : LXV


LX Ventures Inc.

February 12, 2013 07:30 ET

LX Ventures Announces Formation of Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2013) - LX Ventures Inc. (TSX VENTURE:LXV) ("LXV" or the "Company") has formed an advisory board and is pleased to announce its first three members: David Baxby, Co-CEO of Virgin Group; Lance Tracey, Co-founder and Chairman of Peer 1 Networks and; Reza Kazemipour, CEO of Oris4 and veteran Silicon Valley executive with several successful company exits. The advisory board which will operate in a fully advisory capacity, and are independent of the board and management, to provide input and advice on the development of the Company's technology businesses.

David Baxby

After 10 years with Goldman Sachs in London and Sydney, Mr. Baxby joined Virgin Management in 2004 to establish the Sydney office as the CEO of the Asia Pacific region. Since then he has served as a Director of Virgin Mobile, Virgin Active, Virgin Money and Virgin Australia with responsibility for the Group's investments in these businesses. Mr. Baxby moved to Shanghai in 2006 to establish a number of startup businesses in the Asia Pacific region and in 2008 moved to Geneva to assume responsibilities for the Virgin Group's investments in Aviation. In 2008, he joined the Board of Virgin Atlantic, Virgin America and Air Asia X and became Chairman of Virgin Unite in Australia, the Virgin Group's charitable foundation. In 2011, he was named the Co-CEO of Virgin Group with responsibility for all of Virgin Group's global investments. In July 2012, he moved to Singapore to focus on opportunities in the Asia Pacific region.

Lance Tracey

Mr. Tracey co-founded PEER 1 Hosting with Mark Teolis in 1999. Until its acquisition in January 2013 by Cogeco Cable for $526 million, he sat as the chairman of the Board of Directors and between 2005 and 2007 took over as the president and chief executive officer. Lance has long been a technology enthusiast, and has been involved in a variety of high-tech ventures throughout his career. A serial entrepreneur, Lance has co-founded Sutton Group Realty Services, Internet Direct, E-xact Transactions and Bryght.com. Today, he is an active early-stage investor who recently joined forces with Boris Mann to launch Full Stack, a new investment vehicle they're calling "napkin capital."

Reza M. Kazemipour

Mr. Kazemipour has more than 20 years of experience in sales, strategy, investments and business leadership roles in the software industry. Mr. Kazemipour is currently CEO of Oris4, an enterprise cloud search service, and serves as a board advisor to many Silicon Valley, and Canadian start-ups, as well as a mentor to accelerators/incubators like GrowLab, UpWest Labs, and Media Camp (a Turner Broadcasting unit). Prior the advisory roles, Mr. Kazemipour was CRO at Ryma Technology (Acquired by OneDesk), CEO/Founder of AltosMedia, and an "EIR", Entrepreneur-In-Residence at Clearstone Venture Partners. He held executive management positions at Siderean (Acquired by OpenText), Fast Search & Transfer (Acquired by Microsoft), Cerebra (acquired by Webmethods), and Selectica.

"Mr. Baxby, Mr. Tracey and Mr. Kazemipour bring extensive business and finance skills to the newly formed advisory board, as well as specific experience in company exits as can be demonstrated with Lance's recent massive win with Peer 1. Their expertise will strengthen the Company's ability to oversee its technology companies as it continues to create shareholder value through launching, acquiring and integrating early-stage high-growth technology companies that LXV will look to position for successful exits," said Mike Edwards, President and CEO of LX Ventures.

About LX Ventures

LX Ventures is a publicly traded technology incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to assist with distribution and scaling or we internally innovate from idea generation through to launch and exit. For further information about LX Ventures, its technology, collaborations and partnerships, please visit: www.lxventures.com.

ON BEHALF OF THE BOARD

LX VENTURES INC.

Mike Edwards, President & CEO

CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of LX are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by LX are those risks described herein and from time to time, in the filings made by LX with Canadian securities regulators. Those filings can be found on the Internet at http://www.sedar.com.

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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