TORONTO, May 30, 2002 (PRIMEZONE) -- Telesis (TSX Venture Exchange:TNC) (OTCBB:TNCVF), a developer and marketer of data acceleration software, today announced the appointment of Francis Chow to Director of Software Development. Mr. Chow will report directly to Telesis CEO Derek Woods.
Bringing more than 25 years of innovative engineering and high-tech experience, Mr. Chow's goal is to develop and deliver advanced products and services, including the recently-announced OVERDRIVE Web Accelerator(tm), that help carriers and Internet Service Providers provide faster network speeds to their customers over the existing network infrastructure.
"We are very excited about the depth and breadth of experience Francis brings to the Telesis management team," commented Derek Woods. "The ongoing evolution of Telesis technologies truly requires a field expert. Francis has a proven track record delivering market-leading technologies."
Mr. Chow is a seasoned industry veteran with a broad knowledge of the software industry. Prior to joining Telesis, he spent nineteen years at Nortel Networks, holding a variety of design, product management and software engineering positions, including a key role in the Multimedia Contact Center project. He also was the Development Manager for Nortel's Symposium Call Center server for the PBX and Central Office markets.
Francis Chow earned an undergraduate degree in electrical engineering at McMaster University and holds a Masters of Applied Science degree in Computer Engineering from the University of Toronto.
"I am excited to join such a stellar team and to leverage my previous technology and software industry experience," said Mr. Chow. "Telesis has a great opportunity to move data technologies forward for the industry. I am committed to contributing to the Telesis goal of making data move faster through innovative data acceleration applications."
In connection with this appointment, effective May 30 2002, Telesis has granted Mr. Chow incentive stock options to purchase 60,000 common shares without par value in the capital of the Company. The incentive stock options will be exercisable for a period of five years expiring on May 30 2007, at a price of $0.31 per common share. The options will vest, as to one third on May 30 2003, with the balance vesting monthly over the following 24 months until fully vested, or will vest immediately in the event of a change of control of the Company or (at the discretion of the Board of Directors) takeover bid. The granting of the foregoing incentive stock options is subject to acceptance by the TSX Venture Exchange Inc.
About Telesis
Founded in 1989, Telesis North Communications Inc. ("Telesis") (TSX Venture Exchange:TNC; OTCBB:TNCVF) develops and markets data acceleration software for wireless and landline networks. The Company's core product, OVERDRIVE(tm), allows ISPs and wireless carriers to accelerate the effective performance of their networks by up to 10 times, resulting in cost savings and greater customer satisfaction. For accessing email, the web, or any corporate application, Telesis "makes data move faster." Telesis is headquartered in Toronto, Canada with a regional office in the UK. The Telesis web site can be found at www.telesis.ca.
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