BURNABY, B.C., September 5, 2006 – Icron Technologies Corporation (TSX Venture: IT), the developers of ExtremeUSB, announced today the resignation of Suresh Singh as President and CEO. Mr. Singh will continue as a member of the Board of Directors. The Board of Directors also announces the appointment of Robert Eisses as President and Chief Executive Officer as well as a Director of the Company.
Mr. Eisses has more than twenty years of experience as an entrepreneur and a key member of senior management teams at a number of technology product and service companies. He is transitioning from the role of Vice President Sales and Marketing for Icron, which he has held since June of 2004 during which time revenues have grown by over 45% annually.
Mr. Eisses has a B.Comm (Honors) in Finance from the University of Manitoba. Prior to joining Icron, he held various senior positions with North American and internationally based companies including the Director of Sales at Norsat, and Director of Business Development at Infosat Communications, now a BCE company. Additionally, he has worked with other early stage technology companies focused on exploiting technology in new markets. He began his career at Xerox where he spent six years in various sales capacities.
Kelly Edmison, Chairman of Icron Technologies Corporation said “We are very pleased to have Rob lead the company through its next stage of development. His vision, knowledge of the market and commitment to the business should elevate the company to a new level.” Mr. Edmison added, “On behalf of the Board and the company, I would like to thank Suresh for his excellent work over the last six years. He has played a key role in the development of Icron Technologies, consistently increasing revenues during his tenure and raising over $5 million in new equity. We have worked with Suresh for a long time and value his operational acumen and we look forward to working with him on future deals.”
Mr. Singh also commented, “I am leaving Icron at a time that the company is poised to expand into new markets, and believe Robert has the skills, desire and passion to make it a success and look forward to assisting him in this transition”.
Robert Eisses said, “I’m delighted to be taking the next step with Icron. I truly believe that the company’s ExtremeUSB technology has tremendous opportunity in a number of new markets and look forward to accelerating the already strong revenue growth. My most urgent priorities are profitable growth, and increasing the efficiency, speed and nimbleness of Icron to get new solutions to market.”
The Company granted Mr. Eisses options to purchase up to 300,000 common shares at a price of $0.41 per share for a period of five years. The right to exercise the options is subject to certain conditions and will vest over a period of three years. The Company will also grant up to an additional 300,000 options to certain other Directors, Officers and employees of the Company.
About Icron Technologies Corporation http://www.icron.com/
Icron Technologies Corporation’s patented ExtremeUSB® technology extends the range of USB in wired environments and enables wireless USB over any RF technology. ExtremeUSB is the only USB-IF compliant extension solution and is deployed globally in a wide range of applications including: industrial automation, medical device, aerospace, KVM and computer networking. ExtremeUSB technology is available in a variety of formats including technology licenses, OEM modules, developer kits, as well as branded and private-label products. The company also provides a range of engineering and development services focused on unique USB connectivity issues.”
Icron is a publicly traded corporation and trades under the symbol “IT” on the TSX Venture Exchange. For information on the company and its products, please visit www.icron.com and for detailed financial information visit www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release — including, without limitation, statements regarding financial estimates and future plans and objectives of Icron — are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
2005 Icron Technologies Corporation. ExtremeUSB®, USB Ranger™ are trademarks of Icron Technologies Corporation.
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|Icron Technologies Corporation|
|Robert Eisses, President & CEO
|The Howard Group|
|David Gordon, Investor Relations for Icron