CRS Electronics

CRS Electronics

July 08, 2013 13:37 ET

Resolution of CRS Electronics Board of Directors Announced

WELLAND, ONTARIO--(Marketwired - July 8, 2013) - CRS Electronics Inc. ("CRS" or the "Company"), (TSX VENTURE:LED), a developer and manufacturer of LED lighting, today announced the appointment of Ms. Lian Wu to its' Board of Directors, and Mr. Matthew Groen to the position of Chief Financial Officer. Both appointments are effective immediately.

Mrs. Wu is a respected entrepreneur, and was the Chairman of Hong Kong Wu Ji Lighting Co., Ltd from February 2009 to April 2012. She was also a director of Shan Dong Wu Ji Lighting Co., Ltd from March 2007 to April 2012, and the General Manager of Yu Xian Yang Sheng Beauty Making Club from May 2004 to April 2012.

Mr. Groen is an experienced Chartered Professional Accountant (CPA, CA) having specific technical knowledge in financial reporting and regulatory matters for public companies. He articled his Chartered Professional Accountant (CPA, CA) designation at Pricewaterhouse Coopers LLP, an audit, tax, consulting and financial advisory services firm from September 2007 to April 2011. Mr. Groen has served with CRS Electronics for over two years, in which time the Company transitioned to International Financial Reporting Standards (IFRS), launched a new Enterprise Resource Planning system, and received a private placement of $8.8M. He is currently facilitating the transition of the Company's strategic objectives.

About CRS

CRS Electronics Inc., a Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor lighting such as LED replacement lamps, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS plans to be a major supplier of LED lighting solutions for a variety of applications to be developed by CRS on its own and in conjunction with its partners and customers.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws which can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include availability of sufficient working capital for development and operations, availability of a qualified work force, availability of manufacturing equipment and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.

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