SOURCE: Power Survey and Equipment Ltd.

Power Survey and Equipment Ltd.

June 29, 2016 17:35 ET

Power Survey International Appoints Chief Financial Officer

Addition of Lennie Ryer CPA, CA, CFE Strengthens Management Team

MONTREAL, QC--(Marketwired - June 29, 2016) - Power Survey International today announced that Lennie Ryer CPA, CA, CFE, has been named Vice-President and Chief Financial Officer of Power Survey International. Ryer has been CFO of both public and private entities in various technology sectors for the past 16 years and has been active in financing transactions within the capital markets for over 25 years.

"The extensive experience Lennie brings to Power Survey is well-aligned with our financial objectives. He has led the financial strategy of numerous public and private companies as CFO, advisor and Board of Director member," said Mario Barbaresso, CEO of Power Survey International. "Lennie will be an important member of the Power Survey team as we expand within the energy technology sector."

Ryer previously held the position of Chief Financial Officer and Vice-President of Finance at ConjuChem Biotechnologies Inc., a publicly traded biotechnology company developing peptide based drugs to improve the treatment of human diseases such as diabetes and growth deficiencies. With ConjuChem, he designed and executed multiple treasury and secondary offerings in excess of $300 million, negotiated $45 million in convertible notes with a Wall Street institution, and as a member of the Board of Directors, played an integral role in the development and execution of ConjuChem's IPO. Ryer also worked at Paladin Labs Inc., a specialty pharmaceutical firm, from 1999-2001, in the position of CFO and VP Finance. At Paladin, Ryer transitioned the company to the Toronto Stock Exchange and led the company's most significant financing initiative. Ryer was formerly the managing partner of the Montreal office of BDO, an international accounting and advisory firm. During his eighteen years in public practice, Ryer specialized in mergers and acquisitions and taxation.

Ryer holds a B.Comm degree in Finance from McGill University and a degree in Public Accountancy from McGill University Faculty of Graduate Studies. He holds a Chartered Accountant designation from the Institutes of Ontario and Quebec.

About Power Survey and Equipment Ltd.

Since 1948, Power Survey and Equipment Ltd. has been a market-leading provider of customized power factor correction and harmonic filtering technologies and solutions. Power Survey and Equipment Ltd. serves customers mostly in Canada and the United States and also takes part in some projects around the world through a premium network of agents, value-added resellers and distributors. Power Survey and Equipment Ltd. helps industrial energy users reduce high rate-based surcharges for industrial power users with power factor and harmonics issues.

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