QUEBEC CITY, QUEBEC--(Marketwire - June 30, 2009) - H2O Innovation Inc. (TSX VENTURE:HEO)(ALTERNEX:MNEMO:ALHEO) ("H2O Innovation" or the "Company") announces that Mr. Guy Goulet has informed the Company of his intention to resign from his position as Chairman of the Board of Directors and Director of H2O Innovation. His resignation is effective immediately. Mr. Goulet had been Chairman of the Board since the Company's founding. He will continue to collaborate with the Company in identifying and evaluating international sales and development opportunities.
"On behalf of the Board and on my own behalf, I wish to thank Guy for all he has done to help the Company grow over the years. He has been with the Company since its founding, playing a key role in securing the early funding that was essential to startup and implementation of our business plan. We are very grateful for all the effort and enthusiasm he has brought to his work," stated Frederic Dugre, President and CEO of H2O Innovation Inc. The Company does not intend to replace Mr. Goulet on the Board.
H2O Innovation also announces that the Directors have appointed Mr. Philippe Gervais as the Company's new Chairman of the Board of Directors. He will fill the position effective immediately. Vice-Chairman of the Board, Mr. Gervais has been a Company Director since December 2001 and has also served on the Board's various committees over the course of this period.
Philippe Gervais graduated from the University of Montreal in 1988 with a Bachelor of Science in Economics. From 1990 to 1993, he worked for the Minister of National Revenue as Special Assistant responsible for the implementation of the GST. His government service continued with positions as Executive Assistant to the Federal Minister of Public Works and Government Services and then as Political Attache to the Deputy Premier and President of Treasury Board of Quebec. In 1995, Mr. Gervais joined the Capital Hill Group, a government relations firm, as a senior consultant. He also advises a handful of private and public companies as a member of their Boards of Directors. His vast experience, excellent reputation, and impressive track record make him a prized strategic consultant among Canadian and American business and political decision makers.
Following this announcement, H2O Innovation's Board of Directors is now composed of John G. Booth, Frederic Dugre, Andre Duquenne, Philippe Gervais, Richard A. Hoel, and Elaine C. Phenix.
About H2O Innovation
Exclusively dedicated to water treatment, H2O Innovation is establishing itself as a key player in sustainable development and the field of clean technologies. H2O Innovation designs, develops, produces, and integrates state-of-the-art water treatment systems for the production of drinking water, the reclamation of water, the treatment of wastewater and industrial processed water in the municipal, commercial, pharmaceutical, industrial, mining, and energy markets. H2O Innovation has approximately 100 employees and eight offices including two manufacturing and assembly plants in Canada and the United States. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext Alternext Exchange (MNEMO: ALHEO).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
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H2O Innovation Inc.