Quebec City, May 9, 2011 – TSO3 Inc. (“TSO3”) (TSX: TOS) an innovator in sterilization technology for medical devices in healthcare settings, is pleased to announce the appointment of Mr. Benoît Deschamps to the position of Chief Financial Officer and Vice President of Finance, effective June 15, 2011.
“Benoit Deschamps is a senior finance executive with an impressive track record of accomplishments focused on investment and financing within large companies and entrepreneurial organizations”, said R.M. (Ric) Rumble, CEO of TSO3. “Benoît joins us at a time when his expertise and guidance will be most beneficial to TSO3 as we look to grow our business further. We are very pleased to see him join the Company”.
Mr. Deschamps most recently held the position of Executive Vice President and Chief Financial Officer for Mechtronix World Corporation. Prior to this, he held positions of Vice President and Treasurer at Videotron where he played a prominent role in the acquisition of Videotron by Quebecor, and Vice President, Private Investments at the Caisse de Dépôt et Placement du Québec where he was Vice-President in the Private Investment group and responsible for private and public corporate debt investments as well as structured combined debt-and-equity transactions. Mr. Deschamps holds a M.B.A. in Finance and a Ph.D. in Business Administration (Finance). He was also an Associate Professor of Finance at both the HEC, in Montreal and Georgia State University, in Atlanta, where he taught in areas covering corporate finance at the bachelor, master and doctorate levels.
“I look forward to joining an entrepreneurial business such as TSO3, I believe I am joining the Company at an inflection point in its history and look forward to contributing at both the operational and strategic levels”, commented Benoît Deschamps.
TSO3, founded in Québec City in 1998, specializes in the research and development of innovative, high-performance medical instrument sterilization technology with high commercial potential. TSO3 designs products for sterile processing areas in the hospital environment and offers an advantageous replacement solutions to other low temperature sterilization processes currently used in hospitals.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.
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