VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 3, 2017) - Targeted Microwave Solutions Inc. (TSX VENTURE:TMS)(OTCQX:TGTMF)(FRANKFURT:A2ACNT) ("TMS" or the "Company") announced today, further to its previous news release, it has completed an employment agreement with Dr. James Young in his position as full-time CEO. Dr. Young will be entitled to receive a majority of his compensation in TMS common shares, payable monthly based on the volume-weighted average trading price of the TMS shares. Further information on the number of shares issued to Dr. Young each month will be provided in subsequent news releases expected on or about the end of each quarter.
An aggregate of 90,365 shares will be issued to Dr. Young for the period November 29, 2016 to December 31, 2016.
On behalf of the Board of Directors,
"Dr. James Young"
Chief Executive Officer and Chairman
About Targeted Microwave Solutions Inc.
Targeted Microwave Solutions Inc. is a clean technology company that designs and manufactures vertical WAVEdri® microwave reactors to dry and process coal, clay and biomass, including wood fibre. As a global leader in the advancement of microwave technology the Company's mission is to provide the industry with a cleaner and more efficient technology solution, which replaces traditional industrial dryers and kilns, by eliminating toxic emissions, reducing energy requirements and conserving significant amounts of water at a lower capital investment.
The Company's R&D and commercial demonstration plant in King William, Virginia is strategically located near several major industrial clay-based and biofuel manufacturers. The marketing and testing facility in Shanghai, China collects and analyzes material samples from nearby coal power plants and coal mines. The Company is a reporting issuer in Canada and is listed on the following stock exchanges:
This news release contains certain statements which are, or may be deemed to be, "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that we expect or anticipate may occur in the future. Forward-looking statements consist of statements that are not purely historical and, in this news release, include, without limitation, statements regarding future issuances of common shares of TMS to Dr. Young in connection with his employment as Chief Executive Officer. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends", "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual results, performance or achievements or the actual results or performance of the industries and markets in which we operate and intend to operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements involve significant uncertainties and risks, should not be read as guarantees of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in our forward-looking statements, including our ability to obtain all necessary stock exchange approvals, our ability to negotiate and executive definitive documentation and to fulfill any conditions precedent contained therein, the general level of interest to participate in our private placements and such other matters described in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon our forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.