Newlook announces new President and Directors
TORONTO, ONTARIO, July 3, 2008 - Newlook Industries Corp. (TSX Venture Exchange: NLI), ("Newlook" or the "Company") has appointed Jason R. Moretto as President and Chief Operating Officer, and has named Roland P. Austrup and Adam W. Sykes to its Board of Directors. The appointments are anticipated to increase the Board's independence and augment the depth of management. The appointments are subject to regulatory approval.
Mr. Moretto, who is currently a Director with the Company, will assume his new role effective immediately. Having garnered extensive experience serving in senior executive roles and as a director for several Canadian and U.S. public companies, as well as having worked in investment banking and accounting, he will focus on evaluating capital investment and acquisition programs to benefit Newlook as it executes its growth strategy going forward. Mr. Moretto has a Bachelor of Commerce degree from the University of Toronto, and is a Certified General Accountant and Chartered Financial Analyst.
Roland P. Austrup, President and Chief Executive Officer of Integrated Managed Futures Corp. (IMFC), has been appointed to the Newlook Board. IMFC is the managed futures division of Integrated Asset Management, an alternative asset management company with approximately $3.6 billion in assets under management. Mr. Austrup has an extensive background in investment management, and currently serves as an advisory board member for the Centre for Advanced Studies in Finance at the University of Waterloo, which provides the focus for financial research and education at the University and co-ordinates its Collaborative Master's Program in Finance. Mr. Austrup is a member of the National Futures Association, Managed Funds Association and has a Bachelor of Arts (Honours) from the University of Western Ontario.
Also joining the Newlook Board is Adam W. Sykes, President of aka Communications Associates ("aka"), a Toronto-based communications firm specializing in niche marketing, branding and strategic planning solutions. Founded by Mr. Sykes in 1993, aka has built a practice that has focused on a clientele base in real estate development, building materials, financial services and gaming, as well as other industries. In addition to marketing and branding, aka also provides a corporate communications and public relations practice.
"Newlook's management welcomes the recent additions to our team," said John G. Simmonds, Chief Executive Officer. "These individuals bring deep experience from their various respective fields that are very complementary to the Company's current profile. We view this as a positive step forward to enhance Newlook's corporate governance and focus on developing strategies for increasing shareholder value going forward."
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 477-5656 or refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John G. Simmonds
Chief Executive Officer
Newlook Industries Corp
