Webtech Wireless Inc.
TSX : WEW

Webtech Wireless Inc.

October 02, 2014 06:00 ET

Webtech Wireless Announces Departure of CEO; Appointment of Interim CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2014) - Webtech Wireless Inc. (the "Company") (TSX:WEW), a leading provider of vehicle fleet location-based services (LBS) and telematics technology, announces that Mr. Scott Edmonds has resigned as President and Chief Executive Officer effective October 1, 2014. The board of directors of the Company (the "Board") is pleased to announce that Mr. Andrew Gutman, Chairman of the Company, has agreed to take on the role of interim Chief Executive Officer.

Mr. Gutman has more than ten years of experience in private equity/venture capital, as well as fifteen years of experience in managing and/or advising profitable, growth and acquisition oriented software companies. He is currently a consultant to several technology companies. He was previously the Chief Executive Officer of Speedware Corporation from 2001 to 2005. Mr. Gutman has served on the Board since March 2011.

"On behalf of the Board I would like to thank Mr. Edmonds for his service to the Company over the past seven and a half years, first as CFO and then CEO" commented Mr. Gutman; "Scott has demonstrated exemplary professionalism in dealing with the many and varied challenges that have arisen at the Company during this period, and leaves Webtech in a much better financial condition than when he arrived."

The Company will commence a process to a hire a new President and Chief Executive Officer as soon as practicable.

About Webtech Wireless®

Webtech Wireless (TSX:WEW) is a leader in providing fleet management telematics, GPS and automatic vehicle location (AVL) solutions that improve efficiency, accountability and reduce costs. Our end-to-end solutions automate record keeping and regulatory compliance, reduce fuel burn and idling, mitigate risk, and keep drivers safe. Managers trust us to ensure people are accountable and vehicles are visible. Through the cloud, in the office, or straight to mobile devices, we deliver Fleet Intelligence Anywhere™. Our products, InterFleet®, Quadrant® and Webtech Fleet Center™ provide advanced fleet management solutions for winter maintenance, public works and waste management fleets; and, for commercial fleet operations and compliance (HOS, ELD). Please visit www.webtechwireless.com.

This News Release may contain forward-looking statements involving risks and uncertainties pertaining to, but not limited to, the Company's intention to commence a process to identify a full time replacement President and Chief Executive Officer. Given the risks and uncertainties inherent in the markets and industries referred to in this News Release, the Company cannot guarantee that any forward-looking statements will be realized. · All amounts in Canadian dollars (CAD$) unless otherwise noted. ·The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. ·Trademarks are the property of their owners.

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