EXHIBIT 99.2
AZONIC CORPORATION ANNOUNCES APPOINTMENT OF NEW OFFICERS AND DIRECTORS.
NEW YORK--(BUSINESS WIRE)--October 14, 2004--Azonic Corporation (OTCBB:AZOI -
News) announces the appointment of the following individuals as new officers and
directors:
John G. Simmonds: Chief Executive Officer and Director
Mr. Simmonds, 54, has 35 years of experience in the communications
sector. He has extensive experience in building teams, operating systems, and
distribution networks. Mr. Simmonds has particular experience with developing
distribution networks for Midland(TM) LMR products worldwide, an asset now owned
by Wireless Age Communications, Inc. (OTCBB:WLSA), through its wholly owned
subsidiary, Prime Wireless Corporation. Mr. Simmonds was integral in developing
the Midland(TM) brand worldwide following an initial product launch in Canada
during the late 1970's through his family business A.C Simmonds & Sons Ltd. and
later followed by the successful acquisition of Midland International
Corporation from Western Auto, a subsidiary of Sears in 1993.
Mr. Simmonds has, since March 2003, been the Chief Executive Officer
and a Director of Wireless Age Communications, Inc. In addition, since 1998, Mr.
Simmonds has served as the CEO and a Director of TrackPower (OTCBB:TPWR), a
development company involved in horse race track ownership opportunities. Mr.
Simmonds has also been CEO and or director of several other companies. Mr.
Simmonds will replace Gregory H. Laborde as Azonic's CEO. Mr. Laborde, who has
served as Azonic's CEO since September of 2003, voluntarily resigned as CEO as
of October 12, 2004.
Gary Hokkanen: Chief Financial Officer
Mr. Hokkanen, 48, is an executive level financial manager with over 6
years experience in public company financial management. Mr. Hokkanen has, since
May 2003, been the Chief Financial Officer of Wireless Age Communications, Inc.
From January 2001 to April 2003 Mr. Hokkanen was CFO of IRMG Inc., a Toronto
based financial management consulting firm. Mr. Hokkanen served as CFO of
Simmonds Capital Limited from July 1998 to January 2001 and served as CFO of
Trackpower Inc. from February 1998 to June 2001. For the period April 1996 to
July 1998, Mr. Hokkanen served as Treasurer of Simmonds Capital Limited. Mr.
Hokkanen holds a Bachelor of Arts degree from the University of Toronto and is a
CMA (Certified Management Accountant) and a member of the Society of Management
Accountants, Ontario.
Jim Hardy: Chief Operating Officer
Mr. Hardy, 49, has more than 25 years of experience in both technical
and business development. He has served since May 2004 as Chief Operating
Officer of Wireless Age Communications, Inc. From 1999-2000, he served as the
President and COO of Iceberg Media Inc. (TSX Venture Exchange symbol: YIC),
where he implemented a fully integrated internet broadcast facility. In 1991,
Mr. Hardy founded HTI Inc., which is a professional services consulting firm
involved in the high tech industry. In 1987, he joined Oracle Corporation Canada
Inc. as Corporate Consultant and later became Vice-President responsible for
Oracle Canada's Consulting Division until 1991. In 1984, he co-founded Nexus
Computer Consultants, a systems consulting firm, and served as President and
CEO.
David MacKinnon: Chief Technology Officer.
Mr. MacKinnon, 54, has more than 30 years of experience in wireless
communications systems, business development and management. Mr. MacKinnon has,
since May of 2004, been the Chief Technology Officer of Wireless Age
Communications, Inc. From 1995 until May of 2004, Mr. MacKinnon was employed as
the Chairman of Selmah House, Ltd., a private company involved in the business
of technology consulting, financial services and investments. From 1980 until
1995, Mr. MacKinnon was employed with SNC-Lavalin (TSX: SNC), an engineering
consulting company, where he last held the position of Senior Vice President. At
SNC-Lavalin, Mr. MacKinnon was involved in remote sensing in particular the
real-time collection of oceanographic, metrological and sea ice information ice
in both the Beaufort Sea and the North Atlantic. Mr. MacKinnon is a 1971
graduate of St. Mary's University in Halifax, Nova Scotia. He also attended
Dalhousie University in Halifax, Nova Scotia, for two years.
Carrie Weiler: Corporate Secretary
Ms. Weiler, 45, provides Corporate Secretarial services to the Simmonds
group of companies, which she joined in 1979. She has, since 1994, also served
as Vice President of Corporate Development for Simmonds group of companies. In
addition, since May 2003, Ms. Weiler has served as the Corporate Secretary of
Wireless Age Communications, Inc.
David Smardon (Chairman of the Board)
Dave Smardon, 50, is a seasoned executive with a background in
establishing, growing, and financing technology-based companies. Mr. Smardon is
currently CEO and Managing Partner of Nibiru Capital Management Limited.
Since 1991, Mr. Smardon has been involved in several turnarounds and
re-financings of Canadian technology companies where he has raised additional
capital and assisted in operational restructuring. In 1997, he was chosen to
spearhead the establishment of a government sponsored Internet portal called
Innovator's Alliance. As interim CEO, Mr. Smardon attracted over $2 million in
corporate sponsors for the non-profit organization and helped recruit a
membership base of 125 CEOs before turning the reigns over to a full-time
Managing Director.
Through the 1990s, Mr. Smardon established and expanded the Nibiru
group of companies including Nibiru Tactical Corporation, Nibiru Investments and
Nibiru Capital Management Limited. These entities provide investment capital and
hands-on operational management to high growth technology companies. In addition
they provide advisory, due diligence and investment syndication services to the
institutional investment communities.
Ralph V. (Terry) Hadley, III, Esq.: Director
Mr. Hadley, 62, is currently and has been the Managing Partner of Swan
& Hadley, P.A., a law firm based in Winter Park, Florida, since prior to 1994.
Mr. Hadley is the nominee of the Filippo Guani Revocable Trust, which is
entitled to nominate one member of Azonic Corp.'s Board of Directors pursuant to
an Asset Sale Agreement with Azonic Corp. dated August 26, 2004. The Trust
currently owns 3.000,000 shares of the Azonic's common stock and is eligible to
receive up to an additional 1,500,000 shares of Azonic Corp.'s common stock and
an earn out payment of up to $3,000,000. Mr. Hadley received his Bachelor of
Science degree from the University of Florida in 1965 and his law degree from
the University of Florida College of Law in 1968.
Messrs. Simmonds, Smardon and Hadley join Mr. Laborde on Azonic's Board
of Directors. Mr. Karl Nelson, who served as a Director of Azonic since
September of 2003, voluntarily resigned in August of 2004.
Additional Information.
Mr. Simmonds, Mr. Hokkanen, Mr. Hardy, Mr. MacKinnon and Ms. Weiler
provide services to Azonic Corp. pursuant to a Management Services Agreements.
All of the above-named officers are also officers (in the same respective
capacities) of Wireless Age Communications, Inc. (OTCBB:WLSA), with which Azonic
Corp. has entered into a strategic alliance to develop and market a disposable
cellular phone. Wireless Age Communications, Inc., owns 4,460,000 shares of the
Azonic's common stock.
Mr. Smardon provides services to Azonic Corp. pursuant to a Consulting
Agreement with Azonic Corp. dated as of October 1, 2004. Mr. Smardon is the CEO
and Managing General Partner of Nibiru Capital Management Limited, which owns
4,460,000 shares of Azonic Corp.'s common stock.
Additional information about the terms of the relationships between
Azonic Corp., the above-named individuals, and the other entities and
organizations mentioned in this press release (including copies of written
agreements) are being filed on a Form 8-K and will be available at the SEC's
website: www.sec.gov. However, the SEC has not reviewed, verified or approved
any portion of this press release or the above-referenced Form 8-K.
About Wireless Age Communication Inc.
Wireless Age Communications Inc. operates three Strategic Business Units (SBUs).
They consist of Wireless Age for the retail sector , Wireless Source covering
wholesale/distribution and Wireless Works is the Company's networks and
engineering division.
Wireless Age retail outlets market and sell next generation wireless products
and services. Wireless Source distributes prepaid phone cards, wireless
accessories, land mobile radios, batteries and ancillary electronics products
throughout North America. Wireless Works operates broadband public access and
private networks and develops and deploys consumer and commercial products for
use on those networks.
Wireless Age's retail operations (Wireless Age) are conducted through its 94%
owned subsidiary Wireless Age Communications, Ltd. Wholesale operations
(Wireless Source) are conducted through its wholly owned subsidiaries Wireless
Source Distribution Ltd., Marlon Distributors Ltd., Prime Wireless Corporation
and the A.C. Simmonds and Sons operating division. Networks and engineering
operations (Wireless Works) are conducted through agreements with Knowlton Pass
Electronics Limited and Maxtel Wireless Inc.
Wireless Age has an investment in RELM Wireless Corporation which manufactures
and markets high-specification two-way communications equipment for use by
public safety professionals and government agencies, as well as radios for use
in a wide range of commercial and industrial applications. Advances include new
low-cost digital portable two-way radios compliant with APCO Project 25
technical specifications. Products are manufactured and distributed worldwide
under BK Radio, RELM and Uniden PRC brand names.
Wireless Age also has an investment in Azonic Corporation which plans to market
two low cost, analog phones. One is designed to be located in glove boxes, first
aid kits and emergency supply packages and used for emergency purposes. The
second is a prepaid wireless phone designed to be used in the low cost and
short-term usage markets.
For additional information about Wireless Age Communications Inc. or its
subsidiaries, please visit our website at www.thewirelessage.com or review our
periodic filings with the Securities and Exchange Commission at
http://www.sec.gov.
This press release contains "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on currently available competitive, financial and economic
data and management's views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain. Azonic Corporation cannot
provide assurances that the matters described in this press release will be
successfully completed or that we will realize the anticipated benefits of any
transaction. Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including but not limited to: global
economic and market conditions; the war on terrorism and the potential for war
or other hostilities in other parts of the world; the availability of financing
and lines of credit; successful integration of acquired or merged businesses;
changes in interest rates; management's ability to forecast revenues and control
expenses, especially on a quarterly basis; unexpected decline in revenues
without a corresponding and timely slowdown in expense growth; our ability to
retain key management and employees; intense competition and our ability to meet
demand at competitive prices and to continue to introduce new products and new
versions of existing products that keep pace with technological developments,
satisfy increasingly sophisticated customer requirement and achieve market
acceptance; relationships with significant suppliers and customers; as well as
other risks and uncertainties, including but not limited to those detailed from
time to time in Azonic Corporation's SEC filings. Azonic Corporation undertakes
no obligation to update information contained in this release. For further
information regarding risks and uncertainties associated with Azonic
Corporation's business, please refer to the risks and uncertainties detailed
from time to time in Azonic Corporation's SEC filings.
Contact:
Azonic Corporation
John G. Simmonds
Chief Executive Officer
(905) 833-3838 x 223
Source: Azonic Corporation