iLOOKABOUT Corp.
TSX VENTURE : ILA

iLOOKABOUT Corp.

June 02, 2009 09:13 ET

Results of the Annual General Meeting of Shareholders

LONDON, ONTARIO--(Marketwire - June 2, 2009) - iLOOKABOUT Corp. (TSX VENTURE:ILA) (the "Company") is pleased to announce the results of the Annual General Meeting of shareholders held in London, Ontario on May 29, 2009. The shareholders approved all motions put forth at the meeting, including the re-appointment of KPMG LLP as the Company's auditors and the re-approval of the Company's existing Stock Option Plan in accordance with TSX Venture Exchange requirements. Management's slate of nominee directors was also approved.

Members of Management and the Board would like to extend their sincere appreciation to Jonathan Drake for his efforts as a director of iLOOKABOUT and its predecessor over the past three years. Mr. Drake decided not to seek re-election following his decision to pursue an MBA program that will commence in the fall of 2009.

In addition to re-election of Ronald Breen, CA, FCA; Jeff Hack; Alfred Jay; Brice Scheschuk, CA; and Jeff Young, the shareholders elected two new directors for the coming year. Each of John C. Drake, LL.B and Geoffrey Davies bring a wealth of business and financial experience to the Company's Board of Directors.

Mr. Drake is the President and co-founder of Drake Goodwin Corporation, a London, Ontario investment firm with diverse interests in financial services, real estate development and manufacturing, which has realized substantial investment gains over its 22 year history. Mr. Drake is the Chairman of Critical Outcome Technologies Inc., a TSXV company whose business is focused on the identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases through a proprietary computational platform technology. Mr. Drake is also the Vice Chairman of Children's Choice Learning Centers, a leading provider of corporate childcare in the United States, and has served on the board of this company since April 1999. Mr. Drake was the Chairman of DGM Bank and Trust Inc., a privately-owned offshore bank located in Barbados, from January 2002 to September 2008, and a director of Discovery Air Inc., an aviation services company whose shares are listed on the TSX, from January 2006 until August 2008. Mr. Drake is the co-owner of Redtail Golf Course, an exclusive golf course located outside of Port Stanley, Ontario. Mr. Drake was appointed an Honorary Colonel of the 1st Hussars of the Royal Canadian Armored Corps. in 1999. Mr. Drake obtained his B.A. and LL.B degrees from the University of Western Ontario and remains a member of the Law Society of Upper Canada.

Prior to returning to his consulting business in 2008, Mr. Davies was the President and Chief Executive Officer of Century II Holdings Inc., which operated a national courier business under the name "ICS Courier" from June 2003 until October 2007, whose shares were traded on the TSX. Mr. Davies directed the restructuring of this business and the substantial improvement of its financial performance, which led to the sale of the company to TransForce in October 2007. From 1996 to 2003, in addition to providing business and financial consulting services to various transportation businesses, organizations and institutions, primarily in the transportation and health care sectors, including the Ontario Ministry of Health and Long Term Care, through GPD Consulting Inc., Mr. Davies served as the President and Chief Executive Officer of Life Imaging Systems Inc., a start-up medical device company in the diagnostic and therapeutic imaging field, from 2000 to 2001. From 1969 to 1996, Mr Davies held various senior positions within Charterways Transportation Management Inc. ("Charterways") and its parent company, Scott's Hospitality Inc. Mr. Davies oversaw the growth of Charterways to become the third largest school bus operation in North America and its eventual sale to its largest competitor in 1996. Mr. Davies has served as a director of various entities, including most recently, the Ontario Trucking Association, the Canadian Courier and Logistics Association, the London Health Sciences Centre (including Chairman of the Board from 2000 to 2002), Robarts Research Institute, the Children's Health Foundation, and the Sunshine Foundation of Canada. Over his career, he has also served as a member of various advisory groups, including the O.H.A. Governance Leadership Council and the Ministry of Health Hospital Advisory Group. Mr. Davies received his Masters of Business Administration degree from Harvard in 1990.

At their meeting held directly following the Annual General Meeting, the new Board appointed John C. Drake as the Chairman of the Board.

About iLOOKABOUT

iLOOKABOUT is a visual data intelligence company serving commercial enterprise in the municipal, real estate and insurance sectors in North America and Europe with products and services including iLOOKABOUT StreetScape and Virtual Tours. A pioneer in visual data with its Virtual Tour product, the company has also developed iLOOKABOUT StreetScape, a visual data intelligence product for the geo-spatial market. iLOOKABOUT StreetScape is panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. Headquartered in London, Ontario, Canada, iLOOKABOUT also has offices in Toronto, Canada, and London, U.K. iLOOKABOUT's shares are traded on the TSX Venture Exchange under the symbol ILA.

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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