Sherwood Park, Alberta, January 7, 2014 - Virtutone Networks Inc. ("Virtutone" or the "Corporation") (TSX Venture: VFX.V) is pleased to announce that it has appointed Mr. Brent Johnston as Vice President, Finance of the Corporation. Mr. Johnston is a Chartered Account, and has over 15 years of experience in senior financial positions in public and private companies, including Chief Financial Officer of Medwell Capital Corp.
The Corporation also announces that it has issued 300,000 stock options to Mr. Johnston in accordance with the Corporation's shareholder approved stock option plan. The stock options are exercisable at a price of $0.34 per share, expire in five years and shall vest as to one-third of the total amount thereof on each of the first, second and third anniversaries of the date of grant.
About Virtutone Networks Inc.
Virtutone Networks Inc. is a technology company based in Sherwood Park, Alberta and is listed on the TSX Venture Exchange in Canada. The Corporation is a leading supplier of wholesale telecommunication services. Additional information can be found on the Corporation's website at www.virtutone.ca and under the Corporation's profile on www.sedar.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Virtutone will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.
For further information, please contact Jason Allen at 780-702-5777.
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.
NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
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