Kree Tech Announces Appointment of new Director
St. Hubert, Quebec ? September 6, 2006 ? Kree Tech International Corporation ("Kree" or "the Corporation") (TSX-V: KT), an established and recognized developer and manufacturer of superior pressure-sensitive products for the healthcare industry, is pleased to announce that Jacques Sayegh has joined the Corporation as a member of its Board of Directors.
"Jacques has over 25 years of experience in the development and financing of growth companies, and Kree will benefit greatly from his management and counsel," said CEO Gregory Moffat. "He co-founded two successful start-ups and has provided funding and executive management to emerging medical and technology companies. We look forward to leveraging his particular experience in the medical devices sector as we continue to explore growth opportunities in the Advanced Wound Care market segment."
Mr. Sayegh is the CEO and Managing Partner of Samuel Capital Partners, a private Toronto-based venture capital firm specializing in providing angel capital and executive management to emerging international Medical and Industrial Technology companies. Recently, he co-founded VisualSonics Inc., a fast-growing, international medical imaging company, and C Sixty Inc., a biopharmaceutical company.
Prior to Samuel, Mr. Sayegh was the President and CEO of Royal Bank Capital Corporation (RBCC), Canada?s premier bank-sponsored venture capital firm. During his 14 year tenure, the firm grew from $12 million in capital under management and a portfolio of 10 companies, to $350 million under management, invested in over 100 companies.
Mr. Sayegh has previously held numerous directorships and advisory positions with companies including the Canadian Venture Capital Association, MDS Life Sciences Fund, Genechem Technologies Fund, BC Life Sciences Fund and the Ontario Medical Technology Consortium.
Mr. Sayegh is a graduate of McGill University in Montreal where he earned a BSc in Biochemistry and a MBA. He is also a Chartered Financial Analyst. He is active in philanthropic and community causes and lives in Toronto, ON.
Stock Option Plan
Concurrent to the appointment of Mr. Sayegh, Kree also announced that in accordance with its stock option plan, it has granted Mr. Sayegh new options. The Corporation will grant Mr. Sayegh 350,000 options based on the price of the Corporation?s common shares at the close of business on Tuesday September 5, 2006. The options vest at varying periods and will expire after 60 months.
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