William Restructures Board and Appoints Four New Directors.Business Editors TORONTO--(BUSINESS WIRE)--April 7, 2000 Company continues to focus on opportunities in the Technology Sector William Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :WIM WIM Windows Image (Microsoft) WIM Wireless Identification Module WIM Weight-In-Motion WIM Woe Is Me WIM Wireless Instant Messaging WIM Window Invalid Mask (SPARC architecture) .) ("William") is pleased to announce the appointment of four new directors to the board, Messrs. Michael Fitton, Gabriel R. Bitran, Michael Davidson
Michael Davidson is a Republican political activist who was formerly a Chairman of the California College Republicans and an unsuccessful candidate , and Glen Kaiser. NEW BOARD MEMBERS: Michael Fitton: Mr. Fitton is presently the President of Advanced Capital Investments, specializing in the formation and capitalization of companies in the technology and real estate markets. Mr. Fitton has over 20 years of experience in directing, managing, and developing business and technology companies. Mr. Fitton specializes in consulting companies on mergers, acquisitions, and development in the technology field. Mr. Fitton is the founder and former President of Unified Systems Solutions, Inc. Mr. Fitton also held the executive positions of Senior Vice-President of General Logistics International, Vice-president of Computer Horizons Corporation, and Director with Manof Communications Systems. Gabriel R. Bitran: Professor Bitran is currently Deputy Dean and Chair Professor at the Sloan School Of Management at MIT MIT - Massachusetts Institute of Technology . Professor Bitran's research interests lie in the field of operations Noun 1. field of operations - a region in which active military operations are in progress; "the army was in the field awaiting action"; "he served in the Vietnam theater for three years" theater of operations, theatre of operations, theatre, theater, field management. Professor Bitran is a member of the editorial boards of the International Journal of Production Planning Production planning The function of a manufacturing enterprise responsible for the efficient planning, scheduling, and coordination of all production activities. and Control, the Annals of Management Science Series, the Management Science Research, and he has also published numerous articles on a wide variety of topics in operations management. Michael Davidson: Mr. Davidson is Chief Information Officer of Apotex. He has over 25 years of technology industry experience and is currently responsible for setting the technology vision for Apotex and it's worldwide affiliates. Prior to Apotex, Mr. Davidson was Vice President of Engineering and CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. for Des Cartes System Group. His background also includes senior management sales positions at Ingres, and management positions with Nestle and Livingston. Mr. Davidson is a professional speaker in the areas of: "Object Oriented Technology Change management," "Relational Databases," and "E-business". Mr. Davidson has extensive knowledge and experience with the integration of technology in real world manufacturing, sales and distribution, marketing, inventory, human resources and high transaction processing across multiple business verticals. Glen Kaiser: Mr. Kaiser is President and Chief Operations Officer of Galaxy OnLine Inc. Mr. Kaiser has had an extensive career in the telecommunications and Internet industry holding key executive roles with AT&T, NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers , Bell South, Bell Labs, and Lucent Technologies. Before Galaxy OnLine Inc., Mr. Kaiser was the Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Electric Schoolhouse, an innovative Internet company targeting the school and home market, which he helped design and launch in the spring of 1999. Major accomplishments during Mr. Kaiser's career include the very successful market introduction of the Lucent Definity PBX (Private Branch eXchange) An inhouse telephone switching system that interconnects telephone extensions to each other as well as to the outside telephone network (PSTN). system. In addition, his concept development of the Unified Messaging market, his major work on the original PicturePhone Video Conferencing service, and major work on the Data Warehousing market while at NCR provide a deep background across consumer communications, business communications and Internet markets. Existing Board Members: Messrs. Stan Bharti and Ken Taylor will continue on the Board of William. Kenneth Taylor: Mr. Taylor is an international diplomat with a distinguished business and political background. Mr. Taylor's career has ranged from trade development responsibilities in Guatemala, Detroit and London; foreign aid related matters in Pakistan and crisis management in Iran, for which he received the United States Congressional Gold Medal
Mr. Peter Bojtos and Risto Laamanen have resigned from the Board and have been appointed as Special Advisors to the Chairman of William. Update on Diversification into Technology Sector: As previously announced, William has changed its focus from gold mining to technology, and is evaluating several opportunities for acquisition and/or merger in this non-resource sector. William is particularly interested in companies involved in connectivity technology, software development and Internet solutions. William is restructuring as a technology "incubator" for companies that need financing and/or management support. The Company is in discussions for an equity stake with several Internet and technology firms. "There are several successful examples of companies that have provided financial and managerial support for start ups in technology. The new Board members bring broad experience in management to William and additional opportunities to access deals in technology," said Mr. Stan Bharti, Chairman of William. Status of Gold Operations In 1999 William worked intensively to eliminate close to US$100 Million of debt. The company is now substantially debt free at the corporate level and has adequate working capital. The Jacobina mine in Brazil and Rustler's Roost mine in Australia, held by William through subsidiaries, are on standby due to depressed gold prices. The company continues to investigate alternatives for the gold assets. The Company believes that both Jacobina and Rustlers Rustlers are a range of burgers and hot sandwiches produced by Kepak Convenience Foods, based in Kirkham, Lancashire. The parent company, Kepak, is based in Dublin, Ireland. Roost have excellent potential and are economic at higher gold prices. As announced in a previous press release, the Company will also propose a name change to "William Technologies" at its next annual shareholder's meeting, subject to availability. The Company's web site is also being updated. This press release was prepared by William Resources Inc., which accepts the responsibility as to its accuracy. No regulatory authorities or similar body have approved or disapproved the information contained herein. The company relies on litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for "forward-looking" statements. WILLIAM RESOURCES INC. 390 Bay Street, Suite 2008 Toronto, Ontario M5H 2Y2 Trading Symbol Trading symbol See: Ticker symbol TSE - WIM http://www.williamres.com Contact William Resources: Stan Bharti Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 390 Bay Street, Suite 2008 Toronto, Ontario M5H 2Y2 Tel: 416/861-9500 E-mail: sbharti@williamres.com Reg Burden/Kam Gill Directors of Investor Relations Investor relations The process by which the corporation communicates with its investors. 390 Bay Street, Suite 2008 Toronto, Ontario M5H 2Y2 Tel: 416/861-1031 E-mail: kgill@williamres.com |
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