MONTREAL, QUEBEC--(Marketwired - Jan. 26, 2017) - Quantum Numbers Corp. (the "Corporation" or "QNC") (TSX VENTURE:QNC) is pleased to announce, subject to the final acceptance of the TSX Venture Exchange (the "TSXV"), the appointment of Mr. Jean-Charles Phaneuf as the new acting President and Chief Executive Officer of QNC effective February 6, 2017. In connection with Mr. Phaneuf's appointment, Mr. Pierre C. Miron has resigned from his position as President and Chief Executive Officer and has been appointed as the new CFO of QNC in replacement of Mr. Patrick J. Power.
Mr. Phaneuf brings over 25 years of experience in the technology industry to QNC. He is a seasoned technology entrepreneur with significant M&A, and corporate finance experience in both the private and public sectors. Recently, he was partner at Oaklins E. Canada, with a business focussed on conducting M&A and corporate finance for technology firms. Additionally, he founded Sobrema and sold the business to iScope. He assumed the leadership CEO position with iScope which operation was later sold to Colet. Earlier, he was a co-founder at UForce which specializes in VoIP, which ultimately sold to 8x8 Inc., where he continued his career as SVP based in Santa Clara, CA. Prior to this, he was VP of Business Venturing at Innovitech, specialized technological consortium management, strategic planning and strategic alliances. He has extensive experience piloting growth, in various stages of technology companies from inception through to maturity. In addition to his entrepreneurial and technology growth experience, Mr. Phaneuf brings a wealth of international business, marketing strategy, and general management experience.
Mr. Phaneuf is a graduate of the École Polytechnique de Montréal in Industrial Engineering with specialization in innovation management.
Chairman of QNC, Luc Paquet, stated that "Mr. Phaneuf's leadership, exceptional strategic marketing and execution abilities will be instrumental in advancing the market acceptance of the QNC's technology. He will bring a wealth of expertise, including customer-focused product development and marketing strategy, combined with a demonstrated track record of success in creating bottom line performance through strong people leadership. We also want to thanks Mr. Power for his implication and efforts in QNC's success."
On his appointment, Mr. Phaneuf states that "the technology embodied by QNC's quantum random numbers generator could be a game changer to certain cryptography practices. I look forward at the opportunity to demonstrate the advantage that the fundamental component of our technology can achieve in the next wave of our marketing initiatives as we advance our QNRG into broader market acceptance."
Pursuant to Mr. Phaneuf's retainer, the Corporation has granted an aggregate of 2,000,000 stock options to him pursuant to the Corporation's stock option plan. The options expire 10 years from the issue date and have an exercise price of $0.30 per share. The options are subject to semesterly vesting over a period of 24 months.
About Quantum Numbers Corp.
QNC, a publicly traded company (TSX VENTURE:QNC), is an innovative developer of cryptographic solutions based on Quantum Random Number Generator (QRNG). The Corporation's mission is to address the growing demand for affordable hardware security for connected devices. Visit our website at www.quantumnumberscorp.com.
Certain statements contained in this press release constitute forward-looking information. Such statements are
based on the current expectations of management of QNC. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. Forward looking information includes without limitation, progress in development of products, potential of the products, and planned development programs. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and QNC assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.
"Neither TSX Venture Exchange nor its Regulation 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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