New General Manager of Velan SAS

MONTREAL, QUEBEC--(Marketwired - March 31, 2014) - (TSX:VLN) - We are pleased to announce the appointment of Jean‐Luc Mazel to the position of General Manager of Velan SAS, Velan's French subsidiary located in Lyon. Effective March 1^st, 2014, Jean‐Luc Mazel succeeded Patrick Henry who is retiring after 35 years with the company.

Jean‐Luc Mazel, a Professional Engineer and MBA, has held various positions during his 25 years with the company, including Manager of R&D, Manager of Engineering, Production Manager and Plant Manager.

Patrick Henry initially worked in the company as Production Manager, then Plant Manager and finally General Manager. As part of the transition process, Patrick will continue to advise the company for one year in a consulting role.

Velan SAS is the largest Velan company outside of North America. Velan SAS is a leading manufacturer of valves for nuclear energy, LNG and the French Navy.

Tom Velan, President & CEO

Velan Inc.