Quebec City, March 20, 2013 – Mr. Germain Carrière, Chairman of the Board of TSO3 Inc. (“TSO3”) (TSX: TOS), is pleased to announce the appointment of Mr. Claude Michaud and Mr. Jean Lamarre to the Board of Directors, following the departures of long standing members Dr. André de Villers and Dr. Jacques Marcotte.
Claude Michaud is an experienced finance executive and investment banker. He has a 15-year career in investment banking with Scotia Capital and TD Securities, and has been Chief Financial Officer of C-MAC Industries, Neurochem, Kangaroo Media and Groupe Lagassé. Mr. Michaud brings to the Board his expertise in corporate finance, mergers and acquisitions and corporate development. He is member of the Board of Directors of Milit-Air and the Fondation du Théatre du Nouveau-Monde. He is a past member of the Board of Andromed, the Investment Dealers Association (Quebec), the Board of Trade of Metropolitan Montreal and the Women’s Y Foundation. Mr. Michaud is a member of the Order of Engineers of Quebec and holds a Bachelor in engineering from McGill University and a MBA from Cornell University.
Jean Lamarre has more than 35 years of experience in international business development, finance, and corporate strategy. He is President of Lamarre Consultants, a global advisory firm in connection with strategic development, financing and international operations. Mr. Lamarre has been the Executive Chairman of the Board of Semafo, Inc since June 2008. He has been a Director of Semafo Inc. since May 1997 and served as its Lead Director from February 2004 to June 2008. Mr. Lamarre is also the Chairman of the Board of Tele-Québec and the daily newspaper Le Devoir. He serves as a Director of Centre québécois de valorisation des biotechnologies, Klox Technologies, Mispro Biotech Services, Argos Therapeutics and other private or non-profit organizations. From 1993 to 1995, Mr. Lamarre served as Vice-President International and Special Projects at the Canam Manac Group. Prior to that, he was head of European operations at SNC-Lavalin and held various management positions, including Chief Financial Officer, of Lavalin Inc before it merged with the SNC Group to form SNC-Lavalin. He holds a Bachelor of Business Administration with a major in Applied Economics from HEC Montreal.
“TSO3 is pleased to welcome Mr. Claude Michaud and Mr. Jean Lamarre as our newest Board members”, said Mr. Carrière, Chairman of the Board. “Claude brings to the Board expertise in finance, merger and acquisitions, as well as governance, while Jean has an impressive track-record in the areas of international business development, finance and corporate strategy. These newest members provide additional depth to our Board and will surely be an asset to the company and its shareholders at this exciting time in the Company’s history. I would also like to take this opportunity to acknowledge and thank Dr. André de Villers and Dr. Jacques Marcotte, for their involvement and guidance as Board members respectively for fourteen and twelve years.”
“I am pleased to be joining the Board of TSO3”, stated Claude Michaud. “TSO3 is uniquely positioned to address the need for sterilization of complex and challenging medical devices, in a fast-growing industry”, he added. “It makes for an exciting time to contribute as a Board Member and witness what is coming next”.
“TSO3 provides to the industry and to a potential strategic partner both superior product offering and capability to further innovate”, stated Jean Lamarre. “It is an exciting time to be joining the Board of TSO3 and I couldn’t be more pleased with the opportunity.”
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. For more information about TSO3, visit the Company’s Web site at www.tso3.com
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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