MTPR news
MetaPower International, Inc. Announces Layoffs
LAS VEGAS, NV--(Marketwired - Apr 23, 2014) - MetaPower International, Inc. (OTC Pink: MTPR) (PINKSHEETS: MTPR) (the "Company") announces staff layoffs. Included in the layoffs are the President and CEO, Rande Bruhn and Executive Vice President of Business Development, Edwin Gibson. However, Messrs. Bruhn and Gibson will continue to serve the Company as members of its Board of Directors and Mr. Gibson will continue as the non-executive Chairman of the Board of Directors. Messrs. Bruhn and Gibson will also continue some of their work for the Company as consultants. The total number of employees laid off is fourteen. The current Chief Operating Officer, John E. Prouty, has been elected as the President and Chief Executive Officer of MetaPower International, Inc. effective Tuesday, April 22, 2014. Mr. Prouty was also elected President and Chief Executive Officer of the Company's wholly owned subsidiary, MetaPower, Inc., and its wholly owned subsidiary, MetaPower Canada, Ltd., both also effective April 22, 2014.
This action was taken as the result of a projected decline in revenues which the Company expects to begin in the third quarter of 2014.
