TORONTO, ON --(Marketwired - February 23, 2017) - ViXS Systems Inc. (TSX: VXS) a pioneer and leader in advanced media processing solutions, announced today the appointment of
Fred Shlapak to its Board of Directors effective immediately.
"We are pleased that Fred has joined our Board of Directors," said Peter Currie, Chairman of ViXS. "He brings over three
decades of leadership and operational experience coupled with deep knowledge of the semiconductor industry. His perspective and
guidance will be invaluable as we continue to grow ViXS to the next level."
Mr. Shlapak was President and Chief Executive Officer of the Semiconductor Products Sector at Motorola Corporation, a
multi-billion company, when he retired in February 2004. Mr. Shlapak's 33-year career at Motorola included leading the company's
Canadian semiconductor operations. He lived and worked in Europe where he had roles of increasing responsibility that culminated
with leadership of Motorola's European Semiconductor Group.
Mr. Shlapak holds B.Sc. and M.Sc. degrees in Electrical Engineering from the University of Waterloo. He also served on the
boards of Applied Micro Circuits Corporation, Gennum Corporation, Tundra Semiconductor Corporation and SiGe Semiconductor. He was
a former member of the Semiconductor Industry Association.
About ViXS Systems Inc.
ViXS is a pioneer and market leader in designing revolutionary media processing semiconductor solutions for video over IP
streaming solutions, with over 500 patents issued and pending worldwide, numerous industry awards for innovation, and over 33
million media processor shipped to date. ViXS is driving the transition to Ultra HD 4K across the entire content value chain by
providing professional and consumer grade chipsets that support the new High Efficiency Video Coding (HEVC) standard up to Main
12 Profile, reducing bandwidth consumption by 50% while providing the depth of color and image clarity needed to take advantage
of higher-resolution content. ViXS' XCodePro 300 family is ideal for Ultra HD 4K infrastructure equipment, and the XCode 6000
family of system-on-chip (SoC) products achieve unprecedented levels of integration that enable manufacturers to create
cost-effective consumer entertainment devices.
ViXS is headquartered in Toronto, Canada with offices internationally. VIXS™, the ViXS® logo, XCode®, XCodePro™, XConnex™ and
Xtensiv™ are trademarks and/or registered trademarks of ViXS. Other trademarks are the property of their respective owners. For
more information on ViXS, visit our website: www.vixs.com.
FORWARD LOOKING STATEMENTS
Certain statements in this press release which are not historical facts constitute forward-looking statements or
information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not
limited to, statements regarding ViXS' projected revenues, gross margins, earnings, growth rates, the impact of new product
design wins, market penetration and product plans. The use of terms such as "may", "anticipated", "expected", "projected",
"targeting", "estimate", "intend" and similar terms are intended to assist in identification of these forward-looking statements.
Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are
not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause ViXS'
actual results to be materially different from historical results or from any results expressed or implied by such
forward-looking statements. Accordingly, there can be no assurance that forward-looking statements will prove to be accurate and
readers are therefore cautioned not to place undue reliance upon any such forward-looking statements.
Factors that could cause results or events to differ materially from current expectations expressed or implied by forward
looking statements contained herein include, but are not limited to: our history of losses and the risks associated with not
achieving or sustaining profitability; the Company's dependence on a limited number of customers for a substantial portion of
revenues; fluctuating revenue and expense levels arising from changes in customer demand, sales cycles, product mix, average
selling prices, manufacturing costs and timing of product introductions; risks associated with competing against larger and more
established companies; competitive risks and pressures from further consolidation amongst competitors, customers, and suppliers;
market share risks and timing of revenue recognition associated with product transitions; risks associated with changing industry
standards such as HEVC (High Efficiency Video Codec), HDR (High Dynamic Range) and Ultra HD resolution; risks related to
intellectual property, including third party licensing or patent infringement claims; the loss of any of the Company's key
personnel could seriously harm its business; risks associated with adverse economic conditions; delays in the launch of customer
products; price re-negotiations by existing customers; the Company's dependence on a limited number of supply chain partners for
the manufacture of its products, legal proceedings arising from the ordinary course of business; ability to raise needed capital;
ongoing liquidity requirements;and other factors discussed in the "Risk Factors" section of the Company's Annual Information Form
dated March 31, 2016, a copy of which is available under the Company's profile on SEDAR at www.sedar.com. All forward-looking statements are qualified in their entirety by this cautionary statement. ViXS
is providing this information as of the current date and does not undertake any obligation to update any forward-looking
statements contained herein as a result of new information, future events or otherwise except as may be required by applicable
securities laws.