TORONTO, March 08, 2018 (GLOBE NEWSWIRE) -- Imex Systems Inc. ("Imex" or the "Company") (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, is pleased to announce the following update to its business operations.
Effective March 1, 2018, the company announces the resignation of Damodar Arapakota as CEO and from the Board of Imex Systems Inc., and the appointment of Kris Parthiban as Interim President and CEO. Kris is currently a board member and has had a successful career in organizational and business strategy and operations.
Kris has recently been accredited as a Certified Blockchain Expert by Blockchain Council, a leading authority in education and training of Blockchain experts. Additionally, he has been operating his own personal crypto mining operation and consequently is well versed in this space.
Kris Parthiban has over 20 years of senior executive experience in operations to general management and corporate finance in manufacturing, software, real estate and energy related industries. Kris has held senior positions in major corporations: Director of Engineering at Hallmark Cards, Direct of Program Development at American Greetings, Vice President of Human Resources and Planning at Newstar Technologies, President of Crystonics Limited, a fiber optics company, President of Strategy Energy Corporation and Vice President of Tier1 Advisory Inc., a real estate investment advisory group. He is a founder of several community service organizations and has served also in executive positions in political organizations and contested as the Liberal candidate in Scarborough in the 1995 Ontario Provincial Election. He also serves as president of the South Indian Chamber of Commerce of Canada.
Kris graduated from one of the renowned Indian Institutes of Technology in Madras, India and has M. Eng. and M.B.A degrees from McMaster University, Hamilton, Ontario.
The company is also currently in discussions with a number of blockchain opportunities that are synergistic from an integration standpoint while at the same time providing accretive revenue potential by leveraging and exploiting its legacy Government software platform. The company plans to conclude on a relevant blockchain transaction upon satisfactory due diligence.
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on E-Government and the Smart Cities market that also include the integration to payment processing. The company helps public sector entities to provide "Any Time, Any Where, Any Device and Any Channel" convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex's various product and service offerings include: iGov - a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity - a Smart City Solution; and miGov - a Mobile Government Framework.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the future revenue of the Company. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the need for approvals from the relevant government body; future capital needs and uncertainty of additional financing; the competitive nature of the industry; the effects of product development and need for continued technology change; and those risks set out in the Company's public documents filed on www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Imex Systems Inc.
Source: Imex Systems Inc.