William Restructures Board And Appoints Four New Directors
Toronto, Ontario - Friday, April 7, 2000, 12:37 PM EDT
Company continues to focus on opportunities in the
Technology Sector
William Resources Inc. (April 7, 2000) "William" is pleased to
announce the appointment of four new directors to the board,
Messrs. Michael Fitton, Gabriel R. Bitran, Michael Davidson, 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.
Professor Bitran's research interests lie in the field of
operations management. Professor Bitran is a member of the
editorial boards of the International Journal of Production
Planning 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 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, Bell South, Bell Labs, and Lucent
Technologies. Before Galaxy OnLine Inc., Mr. Kaiser was the Chief
Operating Officer 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 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. His work in the private
sector has included six years as Senior Vice President of both
Nabisco Brands and RJR Nabisco.
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 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
protection for "forward looking" statements.
WILLIAM RESOURCES INC.
390 Bay Street, Suite 2008
Toronto, Ontario M5H 2Y2
Trading Symbol TSE - WIM
williamres.com
Contact William Resources:
Stan Bharti
Chairman & CEO
390 Bay Street, Suite 2008
Toronto, Ontario
M5H 2Y2
Tel: 416-861-9500
Email: sbharti@williamres.com
Reg Burden/Kam Gill
Directors of Investor Relations
390 Bay Street, Suite 2008
Toronto, Ontario
M5H 2Y2
Tel: 416-861-1031
Email: kgill@williamres.com
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