MONTREAL, Feb. 17, 2005 (PRIMEZONE) -- Satelinx International Inc. (Pink Sheets:SLXI), a global provider of satellite vehicle tracking, announced today that the board of directors has proceeded to nominate Sam Grinfeld as Chairman, and reconfirmed the nomination of Jason Hu as directors.
Subsequently to the nomination of Mr. Grinfeld as Chairman, the board of directors has accepted the resignation of Jean-Francois Amyot from the board of directors as well as an officer of the company. Jean-Francois Amyot had been nominated Chairman and President of Satelinx to assure the transition in the recent reverse merger transaction with Satelinx Tracking Systems Inc., which was completed in November 2004. Mr. Amyot will continue to act as a corporate finance consultant to the board over the next 6 months.
"We are very grateful to have had the support of Mr. Amyot in the transition of becoming a public company, his experience has proven to be indispensable. We would like to take this opportunity to publicly thank him and his firm Finkelstein Capital Inc. for all they have done for us and our shareholders," said Mr. Grinfeld, the Chairman, President & CEO of Satelinx International Inc.
"Satelinx is in great hands with Mr. Grinfeld at the helm and I look forward to seeing them continue to grow rapidly into one of the most successful business of the twenty first century," said Mr. Amyot, Managing Director of Finkelstein Capital Inc.
About Satelinx
Satelinx International Inc. provides satellite vehicle tracking units that integrates GSM/GPS/GPRS wireless technologies and the Internet to deliver wireless vehicle tracking and location services. Satelinx seeks to be recognized as the world leader in providing safety and security solutions on a global scale in a cost effective manner for vehicle owners, trucking or private vehicle fleet and insurance companies.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts, are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.