SOURCE: Unity Wireless Corporation

April 19, 2007 03:00 ET

Unity Wireless Announces Further Appointments and Restructuring of its Financial Management Team

BELLINGHAM, WA -- (MARKET WIRE) -- April 19, 2007 --Unity Wireless Corporation (OTCBB: UTYW) today announced the appointment of Gilad Kiper as Senior Controller - Eastern Hemisphere, based out of Unity's Israel facilities, and Eric Tsung as Controller - Western Hemisphere, based in the company's Canadian offices. In conjunction with these promotions, the company also announced the departure of Dallas Pretty as CFO.

Speaking about his departure, Dallas Pretty said, "It was not an easy decision for me since I have very much enjoyed working at Unity and I am a big believer in the company's future success, especially as Unity is currently positioned for considerable growth. I am committed to supporting the company with any transitional requirements."

Ilan Kenig, CEO, Unity Wireless Corp., said, "We wish Dallas all the best and thank him for his dedication and service over his years with Unity. As Dallas has said, he will continue to support us with any transitional requirements. Moving forward, our current plan is to contract a finance professional for this transitional period while the company further pursues qualified CFO candidates."

Mr. Kenig continued, "At this time I am very pleased to announce two appointments to our finance leadership team. Both Mr. Tsung and Mr. Kiper are experienced finance professionals who each have a strong understanding of Unity's products, clients, and operations, as well as the historical perspective of our public company dealings."

Mr. Gilad Kiper was the Controller for Celletra, the largest of the three companies that Unity acquired in 2006. His prior experience includes work as a Controller in the industrial sector where he managed the accounting of the company's six international divisions. Gilad also served as an Audit Manager with Ernst & Young where he managed the portfolios of public and private companies in a broad range of disciplines, including the preparation of financial reports according to the US GAAP; internal audits and assessments of investment feasibility; preparation of company prospectus; and support during the IPO process. Gilad has a Bachelor's degree in Economics and Accounting and an MBA from Haifa University.

Mr. Eric Tsung holds a Higher Diploma in Professional Accounting Studies from Caritas Francis Hsu College in Hong Kong, a Bachelor in Accounting and Information Technology from Southern Alberta Institute of Technology, and is a Certified General Accountant (PACE Level), with the Certified General Accountant Association of British Columbia. Eric has been part of Unity's finance team in Burnaby for the past two years and prior to Unity, served in accounting and administrative roles for Richmond-based technology companies and the Hong Kong College.

About Unity Wireless

Unity Wireless is a world-class provider of wireless coverage enhancement solutions for cellular operators and custom subsystems for network infrastructure manufacturers. For more information about Unity Wireless, visit www.unitywireless.com.

Forward-Looking Statements

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation, changes in external market factors including the economy, and other risks and uncertainties indicated in the Company's most recent SEC filing on form SB-2. Actual results could differ materially from the results referred to in the forward-looking statements.

Contact Information

  • Investor Contacts:

    Talal Fouani
    Wall Street Financial Corp.
    (403) 616-8472

    Mike Mulshine
    Osprey Partners
    (732) 292-0982

    Noam Yellin
    Middle East Investor Relations
    +972 (3) 695-4333