Redishred announces today, that Mr. John C. Prittie stepped down as Redishred's President on January 15, 2014. Mr. Prittie has returned to the Heron Group of Companies ("Heron") to assume full-time and attention roles as President of Two Men and a Truck Canada and Heron Capital Corporation.
Redishred would like to thank Mr. Prittie for his ten years of service with the Proshred brand that is owned and operated by Redishred. The management team and the board of Redishred wish Mr. Prittie and the Heron Group of Companies well going forward. The Heron Group of Companies will remain a valued shareholder of Redishred.
Mr. Prittie will remain on the Board of Directors of Redishred to ensure a smooth transition. Mr. Hasham, the Company's Chief Executive Officer will assume Mr. Prittie's responsibilities.
Mr. Prittie commented as follows "I am very pleased with the progress that the management team has made during my tenure with the company and believe Proshred will continue to deliver impressive sales growth and an ever improving bottom line." Mr. Prittie offered his best wishes to all of Redishred and Proshred stakeholders including all Proshred franchisees.
Redishred Capital Corp. is the owner of the PROSHRED(R) trademarks and intellectual property in the United States. PROSHRED(R) shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. PROSHRED(R) is a pioneer in the mobile document destruction and recycling industry and has the ISO 9001:2008 certification. It is PROSHRED(R)'s vision to be the 'system of choice' and provide shredding and recycling services on a global basis. Redishred Capital Corp. grants PROSHRED(R) franchise businesses in the United States and by way of license arrangement in the Middle East. Redishred Capital Corp. also operates five corporate shredding businesses directly. The Company's plan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses that generate stable and recurring cash flow through a scheduled client base, continuous paper recycling and concurrent unscheduled shredding service.
FOR FURTHER INFORMATION PLEASE CONTACT:
Redishred Capital Corp. (TSX.V - KUT)
Jeffrey Hasham, MBA, CPA, CA
Chief Executive Officer
Phone: (416) 849-3469 Fax: (905) 812-9448
Kasia Pawluk, CPA, CA
Chief Financial Officer
Phone: (416) 204-0076 Fax: (905) 812-9448
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This news release contains forward looking statements that reflect the current expectations of management of Redishred and Redishred's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "may", "will", "estimate", "believe", "expect", "intend" and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Redishred. Forward looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2012 management discussion and analysis under "Risk Factors", could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward looking statements. These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Redishred will prove to be correct.
Readers are cautioned that such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Redishred can give no assurance that actual results will be consistent with these forward-looking statements.