NEW YORK, Feb. 7, 2007 (PRIME NEWSWIRE) -- Luna Technologies International, Inc. (OTCBB:LTII) is pleased to announce today that Mr. Antonio Treminio has been appointed as the Company's Interim President & Chief Executive Officer ("CEO"). In this capacity Mr. Treminio will assist the Company in restructuring the outstanding institutional note, locate a suitable acquisition candidate, and restore shareholder confidence.
Mr. Treminio has been a successful investor and entrepreneur in public and private companies and has often served to act as a guiding force behind these companies by expressing and executing a vision to create shareholder value. Mr. Treminio will lead Luna Technologies in restructuring its affairs by locating a strategic acquisition candidate for the benefit of shareholder value.
With a record of accomplishment in structuring equity transactions and leveraged buy-outs, Mr. Treminio brings a unique blend of transactional as well as human relations skills and considerable business contacts and expertise.
Mr. Treminio attended Loyalist College business school in Ontario, Canada, then commenced his professional career with Midland Walwyn, a major Canadian investment banking and brokerage firm, in Toronto, Canada. After accepting an offer by Dean, Witter, Reynolds in 1993, he moved to the United States to further his career, while focusing on establishing alliances and referral agreements with top tier Latin American financial institutions. In addition Mr. Treminio has strong relationships with prestigious European and U.S. based institutional investors. A humanitarian and philanthropist, Mr. Treminio is a member of the Knights of Malta, Sovereign order of St. Johns.
Commenting on his new role as President & CEO of Luna, Mr. Treminio stated: "I am pleased to assist the Company's shareholders in solving the immediate issues facing the Company, so that significant value can be created moving forward. I am confident that we will be successful in both restructuring the Company's debt and consummating a transaction at a later time. I appreciate the patience and the trust of Luna's shareholders and my commitment to them is that management will work tirelessly to create a valuable Company over time."
Former President & CEO Kimberly Landry will continue to serve Luna shareholders' interests by continuing to run the Company's photoluminescent operations, while also remaining on the Board of Directors. The Company thanks Ms. Landry for her years of service as principal executive and looks forward to her continued thoughtful and productive input. Ms. Landry commented, "I am very pleased to have attracted Mr. Treminio to this position; our discussions have been in progress for quite some time and I believe Mr. Treminio is best suited to add value. I am looking forward to Mr. Treminio's contribution and to the opportunities his appointment presents to Luna's shareholders."
Disclaimer
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.