MANCHESTER, N.H., June 17, 2010 (GLOBE NEWSWIRE) -- QED Connect Inc. (Pink Sheets:QEDN), a New York Corporation, today announced that Sofame Technologies, Inc. (TSX:SDW), has appointed three new members to its Board of Directors: Josh Costell, Pierre Grand'Maison and Aurelio Useche effective at their Annual Meeting held in Montreal on June 11th.
Robert Presser continues as Chairman, and Fahim Samaha, Sofame's partner in Europe, also remains on the Board. Kebir Ratnani, a long-standing Sofame Board member and Senior Vice President at SNC-Lavalin, and Luc Mandeville, Sofame's founder, both resigned from the Board. Ratnani and Mandeville remain important shareholders, and Mandeville continues as Sofame's Chief Technology Officer and a key engineering resource for major customer accounts.
Robert Presser, Sofame's Board Chairman, stated, "Each new Director brings world class experience in technical sales, HVAC equipment manufacturing and corporate finance to Sofame. This Board is excited about leveraging Sofame's strengths to seize a variety of opportunities across North American and European markets."
Tom Makmann, CEO of QED Connect, stated, "QED is very pleased with the progress Sofame Technologies continues to make and is looking forward to finalizing the U.S. Joint Venture this month."
About QED Connect Inc.
QED Connect Inc. is a New York corporation which makes acquisitions, investments, and enters into strategic business partnerships. The Company seeks businesses with strong potential with which QED can achieve the Company's goals and strengthen its overall revenue and profits through entry into the multiple market segments. It is QED's intention to help its partners and subsidiaries realize growth, and that growth would, in turn, enhance QED's ability to increase shareholder value.
About Sofame Technologies, Inc.
Sofame Technologies, Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.com.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) finalize the joint venture agreement with Sofame Technologies, Inc., (iii) build the management and human resources and infrastructure necessary to support the growth of its business; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.