LAS VEGAS, NV--(Marketwired - Apr 23, 2014) - MetaPower International, Inc. (OTC Pink: MTPR) (PINKSHEETS: MTPR) (the "Company") announces staff layoffs. Included in the layoffs are the President and CEO, Rande Bruhn and Executive Vice President of Business Development, Edwin Gibson. However, Messrs. Bruhn and Gibson will continue to serve the Company as members of its Board of Directors and Mr. Gibson will continue as the non-executive Chairman of the Board of Directors. Messrs. Bruhn and Gibson will also continue some of their work for the Company as consultants. The total number of employees laid off is fourteen. The current Chief Operating Officer, John E. Prouty, has been elected as the President and Chief Executive Officer of MetaPower International, Inc. effective Tuesday, April 22, 2014. Mr. Prouty was also elected President and Chief Executive Officer of the Company's wholly owned subsidiary, MetaPower, Inc., and its wholly owned subsidiary, MetaPower Canada, Ltd., both also effective April 22, 2014.
This action was taken as the result of a projected decline in revenues which the Company expects to begin in the third quarter of 2014.
About MetaPower International, Inc.:
MetaPower International, Inc. uses information technology and change management services to help companies achieve sustainable results. Through culturally aligned training, tools and techniques, our experts align business processes with management's strategic priorities. Client solutions include workforce culture assessment, as well as best-practice modules compiled for such industry applications as Process Safety Management. MetaPower was founded in 1996.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.