Dynamic Announces Management Transition
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The World's First Class 8 Certified H2 On-board Injection System
Fuel Efficient and Clean Emissions
Message: pulling their sell orders??
FSC / Press Release Dynamic Announces Management Transition Pickering, Ontario CANADA, November 14, 2008 /FSC/ - Dynamic Fuel Systems Inc. (DYA - TSX Venture), announces that Mr. Thomas Fairfull, President, Chief Executive Officer of the Corporation, will be retiring from the foregoing position effective January 1, 2009. Mr. Jerry Solensky Jr., a current director of Dynamic, will be assuming the roles of President and Chief Executive Officer at that time. Mr. Fairfull will, however, continue to serve as a full-time consultant to the Corporation for a period of five (5) years under a consultancy agreement that he has entered into with Dynamic. Under that agreement, Mr. Fairfull will provide consulting services in respect of the overall planning and implementation of Dynamic's business plan including financing, research and design, manufacturing, marketing, distribution and client development or as Dynamic may otherwise request from time to time. On behalf of the board of directors, Mr. Solensky comments: "the board wishes to express its utmost sincere thanks and appreciation to Mr. Fairfull for years of tireless and devoted work on behalf of the Corporation. As founder of the Corporation and its patriarch from day one, Tom has led the development of the Jetstar(tm) technology from an early-stage concept to where we are today - on the cusp of becoming the leader in hydrogen fuel savings devices. I am personally looking forward to continuing to build on the firm foundation that Tom has established and guiding the Corporation through its next significant steps in expanding Jetstar(tm) sales and further positioning Dynamic as the global leader in our industry." About Dynamic Fuel Systems Inc. This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Thomas Fairfull Source: Dynamic Fuel Systems Inc. (TSX-V: DYA) http://www.dynamicfuel.com |
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