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Press release from CNW Group


Wednesday, September 29, 2010

SEPROTECH ANNOUNCES NEW CHIEF FINANCIAL OFFICER08:37 EDT Wednesday, September 29, 2010 OTTAWA, Sept. 29 /CNW/ - Seprotech Systems Incorporated (SET-X; "Seprotech") Seprotech Systems Incorporated is pleased to announce that Ian Malone has been appointed as the Company's new Chief Financial Officer (CFO), taking over the functions of Matthew Anderson who was appointed Interim CFO on the 1(st) of July 2009.  Mr. Anderson will continue to provide consulting services to Seprotech on business development, M&A and corporate strategy. Mr. Malone is an experienced financial executive with extensive experience in public and private capital markets, including the life sciences sector. He has served as Chief Financial Officer at publicly-traded biomedical companies including Millenium Biologix and World Heart Corporation. In addition, Mr. Malone previously held executive positions with a Swiss-based global financial institution, and at Jennerex, Inc a privately owned cancer biotherapeutics company. Mr. Malone also currently serves as director of a publicly-traded biopharmaceutical research company and a privately owned enterprise software company. "Mr. Malone brings a wealth of financial and strategic experience to Seprotech at a crucial phase in the Company's history as the global economy emerges from a deep and prolonged recession," said President & CEO Martin Hauschild.  "Over the last 12 months, cost controls and restructuring have been major factors in managing Seprotech's post recession recovery. Moving forward, Mr. Malone will play a pivotal role as Management shifts attention towards strengthening the balance sheet and returning to Seprotech's pre-recession growth trajectory." "Mr. Malone's experience and network significantly strengthens the Company's financial capabilities and Management Team," said Seprotech's Chairman Jordon Grant. "We look forward to his contribution and an exciting fiscal year that began on the first of September."  Mr. Grant extended his thanks to Mr. Anderson for his service as Interim CFO and his continued support of the Company. Seprotech is a provider of pre-engineered water and wastewater treatment plants to the land development, resource sector and military market place, including CrystalBlue? membrane-based water recycling systems and the ROTORDISK® wastewater treatment systems. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Some of the statements in this press release, including those relating to the Company's strategies and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law. For further information: <p align="justify">Mr. Matthew Anderson<br/>Vice President Finance and Corporate Development<br/>Tel: (613) 523-1641<br/>Tax: (613) 731-0851</p>