NEIK NEWZ OUT:
Northstar Electronics welcomes Phillip Johnson to Board of Directors
Northstar Electrncs (OTCBB:NEIK)
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Today : Wednesday 18 April 2012
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Northstar Electronics, Inc. (OTCQB – NEIK), which previously signed a Letter of Intent to acquire Echotec Sonar Corp., announces the addition of Phillip Johnson to the corporate board of directors and discusses upcoming patents.
Phillip Johnson, CEO of Echotec Sonar Corporation, has accepted a position on the Northstar Electronics, Inc. board of directors.
Mr. Johnson was instrumental in bringing sonar technology to Lockheed Martin Canada and pioneered wide band technology within the corporation. He specialized in high frequency sonar for obstacle avoidance, harbor surveillance, and mine countermeasures technologies, and has a flair for making concepts work in the real world.
With seven patents to his name, he expects to be adding some more with upcoming patent submissions related to the implementation of Echotec's High Definition Sonar technology.
"Phil Johnson's extensive technical knowledge will be of great value to Northstar in support of our new future plans beyond this acquisition of Echotec Sonar. His experience, especially with Lockheed Martin, is very well suited to the type of applications we foresee in the defense and commercial marketplaces," said Dr. Wilson Russell, Chairman/CEO of Northstar. "I would like to welcome Phil to Northstar's executive team and look forward to working with executing on our upcoming strategic initiatives."
The patent submissions for Echotec's technologies will allow Northstar to not only work toward creation of patented devices that the company can directly sell, but will also open up an additional revenue channel to license the intellectual property & technologies to known defense and commercial entities wishing to upgrade their systems with High Definition Sonar.
Echotec Sonar Corporation is a private Canadian company. The founders have over eighty combined man-years of expertise developing high frequency sonar products within the defense and commercial fishing industries. Echotec Sonar is a world leader in this field through experience, technical acumen, and a team diversity, which understands the needs of many defense and commercial entities. http://www.echotec.ca
About Northstar: Northstar Electronics, Inc., is a holding company with executive management specialized in design engineering, defense, advanced systems, security, sonar, systems integration, and prototyping fields. Northstar is actively pursuing opportunities through acquisition, joint venture, or merger to increase revenues and expand its base of subsidiaries.
For further information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, firstname.lastname@example.org, 800-631-8127 and/or Beverly Jedynak, Media Relations, Martin E. Janis & Co, Inc., email@example.com, 312-943-1123
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This press release contains forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as its future results of operations and financial condition. Such risks include, but are not limited to, the effects of competition with existing enterprises and/or new entrants into the company's markets and industries, fluctuations in currency exchange rates, domestic and global economic conditions generally, the company's ability to obtain financing and attract suitable personnel where required to fully implement its business plan, the adoption and acceptance by the marketplace of the company's technologies and product and service offerings, the possibility of new technologies that are competitive with the company's planned product and service offerings and the effects of future political and economic developments both in the United States and abroad, among others. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
SOURCE Northstar Electronics, Inc.