Isonics Corporation (OTCBB: ISON.OB), a company focused on the provision of homeland security services and 300-millimeter (and smaller diameter) test wafers and reclamation services, wafer thinning and custom wafer products for the silicon industry, announced today that veteran businessman and management consultant George O’Leary had been elected to the company’s Board of Directors, bringing the total to five.
Mr. O’Leary currently serves as a director of several other public companies, including Futuremedia PLC (FMDAY.OB), a learning and communications company, and NeoGenomics, Inc. (NGNM.OB), a cancer genetic testing laboratory. He is also engaged, in an advisory capacity, in several turn-around situations, both in the US and the United Kingdom. The holder of Isonics’ 13% Debentures has a business relationship with and has previously invested in NeoGenomics, Inc.; nevertheless, the Board of Directors has considered the potential conflict of interest and has determined that any such relationship will not interfere with Mr. O’Leary’s being able to faithfully carry out his duties as an Isonics Director.
Chris Toffales, Isonics Chairman and CEO, said, “We are pleased to have George on our Board of Directors. He brings a wealth of business experience to Isonics, and he is equally deep in both private and public company operational and financial activities. We have spent the last year mounting a turnaround at Isonics, and George’s help in maintaining the momentum will be critical. He joins a very strong and committed Board of Directors.”
Cautionary Statement: Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve estimates, assumptions, known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-K for the year ended April 30, 2007 and reports subsequently filed with the Securities and Exchange Commission, which include the Company's historical cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in these filings with the Securities and Exchange Commission.
Contacts:
John Sakys, 303-279-7900
www.isonics.com
