January 17, 2008
Sonomax Hearing Healthcare Inc, has announced they have hired Dan Casey as president and chief operating officer. Casey will report to Barry Schwartz, chairman and chief executive officer of the corporation. Casey was formerly executive vice-president of Future Electronics, where he is reported to have played a principal role in the company’s growth and expansion into a global multi-billion dollar company.
Sonomax reports it has succeeded in adapting its proprietary intra-ear technologies to a unique range of last-mile, in-ear, devices for the entertainment and communications markets as well as the world’s military organizations. Casey’s depth of experience answers Sonomax reports Casey’s experience will be key among sales and marketing and operations leadership, as the company introduces this suite of products to the global marketplace.
“The founders of Sonomax have always said that when the time was right they would put someone at the helm who could take the company into the big leagues," Schwartz says, "someone who had been a key player in an important success story. That time is now, and that person is Dan Casey.”
Schwartz continues: “Nick Laperle and Adam Schwartz have stood up to Sonomax’s many challenges since the company’s inception without once flinching—Dan will be able to count on them. As co-president, Nick will continue to create important business opportunities for Sonomax as he has in the past, and he will continue in his role as the company’s investor relations liaison. Adam will continue to be Sonomax’s executive vice-president, responsible for research and development and production. Adam and his team achieved a major breakthrough when they succeeded in adapting the company’s patented technologies to applications in vastly bigger markets—they’ve discovered the formula and there is every reason to believe that they can build success upon success in developing new and exciting products for our company.”
Casey responds to his appointment: “I’m delighted to be joining Sonomax, particularly at this juncture in its development. The Company has established itself firmly in the industrial market with its state-of-the-art hearing protection. Now it has universalized its core technology and made it adaptable to MP3 players, BluetoothTM headsets, hearing aids, and communications products. Each of these business silos represents a multi-billion dollar marketplace. I look forward to leading Sonomax through its transition from product development company to global marketing and sales company.”
“We have always promised our investors a professionally run company”, Laperle notes. “The fact that Dan has joined us fulfills that promise—and then some. We could not have invented a CV more suited to achieving our goal of going ‘from good to great’. We have adapted our core technology to numerous applications, have products in place set to capture vast markets, and new strategic opportunities are presenting themselves every day. With this appointment, we’ve aligned our executive suite with our objectives and our potential.” In connection with the appointment of Casey as Sonomax’s president and chief operating officer, Casey was granted a stock option by Sonomax in respect of 600,000 common shares at an exercise price of $0.27 per share, representing the closing price of Sonomax’s shares on the TSX Venture Exchange January 16, 2008. The option was granted under Sonomax’s 2001 Stock Option Plan, subject to approval of the TSX Venture Exchange.