OTTAWA, Aug. 25, 2020 (GLOBE NEWSWIRE) — Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V: BES) (“BESI” or the “Company”), announced today that Gary Economo, Chief Executive Officer, has advised the Company that he will retire as the CEO effective August 31, 2020 and as Director of the Company effective August 31, 2020. Following his retirement, Mr. Economo will be available to provide ongoing input and support as required by BESI management. Mr. Lindsay Weatherdon, a Director and the current President of BESI, has been appointed CEO and will assume the roles of President and CEO effective September 1, 2020.
Mr. Weatherdon, age 56, is the President of Concord National Ontario and Québec. Concord National Ontario and Quebec is a Canadian-based consumer and packaged goods sales and marketing agency. He has held this position since 2002. In addition, Mr. Weatherdon is a shareholder, through his personal holding company, Thombeth Holdings, of Luxell Technologies. In September 2011, Mr. Weatherdon became a director of Luxell Technologies.Mr. Jeffrey York, Chairman of the Board, stated, “On behalf of the Board of Directors, we would like to thank Gary for his leadership and outstanding achievements in delivering successful product development launches for Braille Battery and successful capital funding initiatives. We congratulate Gary for his success and valuable contributions to BESI and now look forward to continue working with Lindsay to lead BESI through the continued growth and shareholder value creation as we embark on the next stages of product development at Braille Energy Systems.”“I am very pleased to have the opportunity to expand my role with BESI at this time, as we enter into the essential phase of the Company’s development and advance commercialization of the products in our development pipeline,” said Mr. Weatherdon. “With a strong development plan in place, I believe BESI has the potential to deliver significant shareholder value while positively contributing to the lithium battery industry.”Mr. Economo, President and CEO, commented, “I wish to thank the Board of Directors, management, employees and our dedicated shareholders for all of the support you have provided to me. I have had the great privilege to work with some of the most talented people in the battery industry and I believe this is the ideal time for me to step aside and allow Lindsay to further develop and expand the Braille Battery business.”About Braille Energy Systems Inc.Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials.Investor Contacts:Scott AndersonInvestor Relations(858) 229-7063[email protected]Braille Energy Systems Inc.Judith Mazvihwa-MacLeanCFO(613) 581-4040[email protected]
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