Vancouver, British Columbia (FSCwire) - VendTek Systems Inc. (TSX Venture - VSI) (the "Company" or “VendTek”) today announced the appointment of Mr. Filipe de Medeiros Durand to the Company’s Board of Directors. The appointment is subject to the approval of the TSX Venture Exchange.
 

Mr. Durand brings a wealth of international experience from his years in the investment banking industry and his work on equity management, investment analysis and debt structures. He is currently F3 Investments’ Managing Partner and Chief Investment Officer . F3 Investments is a Brazilian-based advisory and investment management firm focused on providing comprehensive investment solutions to institutional investors as well as ultra-high net worth individuals with complex investment portfolios.

Mr. Durand previously worked in São Paulo at Unibanco in the Corporate Banking division before moving to Citigroup Global Markets, where he was part of the Special Situations group, a team dedicated to allocating proprietary capital through debt and equity from public and private companies across Central and South America.  He also worked as an investment analyst at Spectrum Co and a portfolio manager at Quorum Capital and Sulamerica Investmentos.  In those roles, Mr. Durand analysed investment opportunities, developed strategies to unlock more value from the businesses and performed due diligence of several private investments.

“We are extremely pleased to welcome Filipe Durand to the Board” said Martin Parent, Chairman of VendTek Systems Inc.  “He brings a wealth of international financial experience and knowledge of the Central and South America markets. We are looking forward to working with him,” continued Mr. Parent.

“VendTek’s board and management team continue to focus on opportunities for the future and I look forward to playing a role in helping restructuring the Company as it launches new and innovative products” said Filipe Durand.
 

For further information please contact Samantha White at 604-805-4653 or via email swhite@vendteksys.com

About VendTek

VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.

Forward-Looking Information

This news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results or events to differ materially from the results or events predicted in this release, including those comments predicting the level of inventory overstatement and its material impact on the financial statements. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

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.

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