Calgary, Alberta CANADA, November 06, 2007 - AeroMechanical Services Ltd. (AMA - TSX Venture), ("AMS or the Company") announces that Gino Ferronato, Chief Operating Officer, has decided to resign to pursue other personal interests. To assist AMS in the transition, we are pleased to announce that AMS has contracted the services of John Brom, former Vice-President of Maintenance & Engineering for Aloha Airlines, a long time customer of AMS, to serve as interim COO.
Gino joined AMS in March, 2007 and was instrumental in the development of processes and controls that assist AMS in its expansion of installations, engineering and manufacturing capabilities. These processes are now embedded in the AMS operations and are producing excellent improvements in on time delivery and customer satisfaction. John will join the AMS team to ensure that we continue to expand our delivery capabilities while we recruit for the position.
Mr. Brom has been granted incentive stock options for a total of 50,000 common shares of the Corporation at a price of $0.68 per share for a period of three years under the formal stock option plan approved at the Annual General Meeting held on May 17th, 2007, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for the issuance of the Corporations' Stock Option Policy. The options vest March 1, 2008 and expire equally at the third (1/3) each year on December 31, 2009, 2010, and 2011.
About AeroMechanical Services Ltd.
AeroMechanical Services Ltd. provides proprietary technologies and services designed to reduce costs and improve efficiencies in the airline industry. The company has successfully commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology afirs(TM) UpTime(TM) allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time.
For more information on AMS contact:
Tom French, CFO
AeroMechanical Services Ltd
(403) 291-7427
tfrench@amscanada.com
Bob Beaty
The Howard Group Inc.
Toll Free: 1-888-221-0915
Info@howardgroupinc.com
www.howardgroupinc.com
afirs, UpTime, AeroQ and Smart Box are Trade Marks of AeroMechanical Services Ltd.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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