VendTek announces two new board members
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VANCOUVER, June 27 /PRNewswire-FirstCall/ - VendTek Systems Inc. (TSX-V: VSI) ("VendTek" or the "Company"), a leading provider of automated transaction systems software, is pleased to announce that it has appointed Jamie Bruce, a Senior Partner at Capital West Partners, and Christopher Wallace, an Investment Principal at Second City Capital, to its Board of Directors.
Mr. Bruce has more than 25 years of investment banking experience having worked with Pemberton Securities, RBC Capital Markets and TD Securities. At TD Securities, he was head of Investment Banking and Corporate Credit for British Columbia. Mr. Bruce has lead hundreds of transactions to successful completion including M&A assignments, IPO's, private equity issues, debt financings and numerous other advisory assignments. Jamie is a Mechanical Engineer with an MBA. He is also a Certified Management Accountant and Chartered Business Valuator. He serves, or has served on several non-profit and corporate boards.
Mr. Wallace was formerly a Partner of Stirling Mercantile Corporation, a corporate finance firm he founded. Prior to Stirling he was COO of Canadian Maple Leaf Financial Corporation, an independent merchant bank and has 10 years of commercial banking experience. He has served on the boards and provided interim CFO services to several public and private companies. Also, Mr. Wallace purchased Tempa Glass Industries in a leveraged buyout and acted as CEO of this innovative and successful architectural glass manufacturing business for 5 years. Mr. Wallace is a graduate of Queen's University with an Honours degree in Economics.
Doug Buchanan, President and Chief Executive Officer of VendTek said, "Jamie and Christopher are excellent additions to our Board of Directors. Both gentlemen have a great deal of experience with guiding private and public companies as they grow. We look forward to their contributions."
About VendTek
VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers and its division, Now Prepay Corp. and its subsidiaries are using e-Fresh(TM) software to build electronic, prepaid services networks, which enable consumers to purchase prepaid services via POS and self-serve terminals connected to a central e-Fresh(TM) server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh(TM) reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. For further information please visit the Company's websites www.vendteksys.com and www.nowprepay.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
CONTACT: Samantha Haynes at (604) 805-4653 or 1-800-806-4958 or shaynes@vendteksys.com
SOURCE VendTek Systems Inc.
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