ProSep Inc.
TSX : PRP

ProSep Inc.

March 16, 2011 08:00 ET

ProSep Appoints New Chief Financial Officer

MONTREAL, QUEBEC--(Marketwire - March 16, 2011) - ProSep Inc. (TSX:PRP) ("ProSep" or "the Company"), dedicated to providing process solutions to the oil and gas industry, announces the appointment of Claude Samson, C.A., M.B.A. as Chief Financial Officer and Corporate Secretary, effective March 28th 2011. Mr. Samson will be responsible for all financial and legal matters of the Company, including accounting, treasury, reporting, taxation and financing.

"I am very pleased to welcome Claude to our Executive team. He brings together a unique knowledge of international business and financial management. His years of experience at some of the world's leading consultancy, engineering and financial groups are combined with an intimate knowledge of technology companies. We look forward to his contribution as we implement a new strategic initiative and growth plan," said Jacques L. Drouin, President & CEO.

Mr. Samson is an accomplished senior executive with some 30 years of experience in finance, management, strategy, risk management and mergers and acquisitions. He was most recently Quebec Leader of Financial Management Services at IBM Business Consulting Services. Previously, Mr. Samson held positions as Senior or Executive Vice-President, Finance at AMEC Engineering & Construction, Canada Trust Financial Services, AlphaNet Telecom, Téléglobe Canada and The Laurentian Group. He currently serves on the Board of Directors of Financial Executives International (Quebec Chapter), as well as on the Institute of Corporate Directors' (Quebec Chapter) Professional Development Committee.

About ProSep

ProSep is a technology-focused process solutions provider to the upstream oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosep.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

Contact Information

  • ProSep Inc.
    Investor and media contact:
    Danielle Ste-Marie
    VP Marketing and Communications
    514-522-5550 ext. 238
    dste-marie@prosepinc.com