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Thomas Cantwell to Retire from Miranda's Board of Directors, Tim Thorsteinson Introduced as New Director Nominee(March 21, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 03/21/12 -- Miranda Technologies Inc. (TSX:MT), a worldwide provider of infrastructure, playout and monitoring systems for the television broadcast, cable, satellite and IPTV industry, today announced that Thomas Cantwell will retire from the Company's Board of Directors at the upcoming Annual General Meeting, scheduled for April 17, 2012. At the same time, the Company is pleased to introduce its new director nominee, Tim Thorsteinson.
"Mr. Cantwell has served Miranda well as director. With his MBA from Harvard, his PhD from MIT and his many years as a private investor and corporate manager of more than ten technology start-ups, Mr. Cantwell has provided us with invaluable insight," commented W. Brian Edwards, Chairman of Miranda Technologies. "He takes with him our sincere gratitude for the dedication, wisdom, and leadership he has shown throughout his years of distinguished service to Miranda and its shareholders. He leaves Miranda in one of its strongest positions ever."
"At the same time, we are pleased to introduce a new director candidate, Mr. Tim Thorsteinson," continued Mr. Edwards. Mr. Thorsteinson is an international business leader with significant experience in the broadcasting and technology industries. He currently serves as CEO of Enablence Technologies Inc. Between 2006 and 2009, Mr. Thorsteinson served as President of the Broadcast Division at Harris Corporation, where he was also a member of their Executive Committee. Prior to joining Harris, Mr. Thorsteinson was President and CEO at Leitch Technology and also held senior management positions at Thomson Broadcast, the Grass Valley Group and Tektronix. "Mr. Thorsteinson brings deep industry knowledge which will contribute to expanding on our successful growth strategies."
In addition to Mr. Thorsteinson, Miranda will be submitting its current directors, Mr. Jean Bazin, Ms. Isabelle Courville, Mr. W. Brian Edwards, Mr. Strath Goodship, Mr. Terry Nickerson and Mr. Patrick G. Whittingham as director nominees at its upcoming Annual General Meeting. More information on Miranda's Board of Director nominees can be found in the Company's Management Proxy Circular dated March 19, 2012 which will be filed on Sedar on March 22, 2012.
This media release contains forward-looking statements reflecting Miranda's objectives, estimates and expectations. Such statements may be marked by the use of verbs such as "believe", "anticipate", "estimate", "looking ahead" and "expect", as well as the use of the conditional or future tense. By their very nature, such statements involve risks and uncertainties. Consequently, results could differ materially from the Company's expectations. Risks that could cause results to differ materially from Miranda's expectations are discussed under the heading Risks and Uncertainties in the Company's Annual Management's Discussion and Analysis, which is available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release represent Miranda's current expectations and, accordingly, are subject to change. However, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statement, whether as a result of new information or events or otherwise, unless required to do so by the applicable securities legislation.
Miranda Technologies is a leading worldwide provider of hardware and software solutions for the television broadcast, cable, satellite and IPTV industry. Its solutions span the full breadth of television operations, including production, playout, and delivery.
With a wealth of experience in delivering IT-based and traditional television systems, Miranda is uniquely positioned to help customers enhance their facilities, while generating additional revenue, reducing costs and streamlining operations.
For over 22 years, Miranda's growth has been driven by continuous innovation, along with close customer partnerships focused on helping them achieve their business objectives. To deliver this support, Miranda employs approximately 700 people globally, in both developed and emerging markets. Miranda's head office is located in Montreal, and it has regional facilities in the United States, the United Kingdom, France, the United Arab Emirates, Japan, Malaysia, Singapore, Hong Kong and mainland China. A public company since December 2005, Miranda's shares (TSX:MT) are traded on the Toronto Stock Exchange. More information on the Company can be found at www.miranda.com.
Miranda Technologies Inc.
Investors and Media
Chief Financial Officer
Miranda Technologies Inc.
Tel.: (514) 333-1772
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