OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company")
today announces appointments to the Special Strategic Committee (SSC) and its
Advisory Board. As announced on June 10, the Company formed the SSC which is
chaired by Executive Director, Peter Copetti, and which was given the mandate to
evaluate strategic alternatives in relation to the sale or licensing of the
Company's proprietary POET platform, to deliver recommendations to the Board,
and to carry out any selected transactions to completion as confirmed by the
Board.
Mr. Copetti is pleased to announce that Dr. Adam Chowaniec, a director of the
Company, has been appointed to serve on the SSC and that Lee Shepherd, Martin
Peisl and Geoffrey C. Rogers have been appointed to serve on the SSC's Advisory
Board.
Mr. Rogers has over 30 years of experience in high-performance semiconductors,
EDA software, and intellectual property licensing. Having earned a BSEE from
Cornell University, Mr. Rogers has held key roles with Tensilica (now Cadence
Design Systems, Inc. - NASDAQ: CDNS), Silicon Architects (now Synopsys, Inc. -
NASDAQ: SNPS), VLSI Technology (became Philips Semiconductor) and Applied Micro
Circuits Corp. - NASDAQ: AMCC.
Dr. Martin Peisl has over 33 years of management experience in Semiconductor
research, development and marketing. He has served companies such as Siemens,
Infineon, Qimonda, Ramaxel, and Netlist. His people and project management
background includes broad international experience in Germany, Malaysia, France,
China and the U.S. Dr. Peisl was directly responsible for product development of
Dynamic Random Access Memory (DRAM) generations from 64Mbit to 1Gbit.
Additionally, he has supervised starting new product lines such as Mobile Random
Access Memory, Reduced Latency DRAM and DRAM based Application Specific
Integrated Circuits (ASICS). Being a decade long member of the Joint Electron
Device Engineering Council (JEDEC) standardization committee, Dr. Peisl has
chaired the development of the predecessor of the Double Data Rate 2 (DDR2)
specification within the Advanced DRAM Technology (ADT) consortium together with
technical members of Intel, Samsung, Hynix, Micron and Elpida.
"Messrs. Peisl and Rogers will be valuable members of the SSC Advisory Board"
stated Mr. Copetti "and I look forward to working with them along with Dr.
Chowaniec and Lee Shepherd, VP of Technology."
The directors have accepted the recommendations of the Compensation Committee
and granted, to Messrs. Peisl, Rogers, Chowaniec and Shepherd, incentive stock
options to purchase an aggregate of 1,200,000 common shares, representing 0.9%
of the outstanding shares of the Company. The stock options are exercisable at a
price per share of CA$0.46 and expire on June 27, 2018. The exercise price was
the closing price on the day prior to the grant, being June 26, 2013.
Prior to the option grant, there were 18,224,000 options outstanding and
132,474,865 voting shares outstanding. The Company's Stock Plan provides for a
vesting schedule of 25% upon grant and 25% every six months thereafter, subject
to modification by the directors based on performance. These options were
granted subject to provisions of the Company's stock option plan which was
approved by shareholders at the annual and special shareholders meeting on June
21, 2013, and are subject to the TSX Venture Exchange policies and the
applicable securities laws.
About OPEL Technologies Inc.
OPEL is the developer of the POET platform for monolithic fabrication of
integrated circuit devices containing both electronic and optical elements on a
single semiconductor wafer. With head office in Toronto, Ontario, Canada, and
operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company,
designs III-V semiconductor devices for military, industrial and commercial
applications, including infrared sensor arrays and ultra-low-power random access
memory; and through OPEL Solar, Inc., provided systems for energy applications.
The Company has 32 patents issued and 6 patents pending, primarily for its
semiconductor POET process, which enables the monolithic fabrication of
integrated circuits containing both electronic and optical elements, with
potential high speed and power-efficient applications in devices such as
servers, tablet computers and smartphones. OPEL's common shares trade on the TSX
Venture Exchange under the symbol "OPL" and on the OTCQX under the symbol
"OPELF". For more information please visit our websites at www.opeltechinc.com
and for ODIS at www.odisinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Grayling
Christopher Chu
(646) 284-9426
opel@grayling.com
