CALGARY, Alberta – (BUSINESS WIRE) – May 17, 2001 – Remote Utilities Network, Inc. (OTCBB: RMUN) was advised by the NASD (the National Association of Securities Dealers) that their securities would be listed on the OTCBB (Over the Counter Bulletin Board) commencing April 12, 2001.
The Board of Directors announces the resignation of Gerald S. Peatz as Secretary, Treasurer and director of the Company. Mr. Peatz resigned his position on April 18, 2001 to pursue other business interests. To fill the vacancy created by Mr. Peatz' resignation, on April 23, 2001, Omkar Nath Channan was appointed a director and was elected to serve as the Company's Secretary and Treasurer, effective immediately. Mr. Channan retired from his position as Chief Controller of Prosecutions of the Law Department for the City of Calgary in 1996. Since 1996, he has been the Founding World President & Governor of The World Organization of Business Officials, the President of the Calgary-Jaipur Development Foundation (Sister Cities of India and Canada), President of the United Nations Association in Canada-Calgary Branch, and a member of the International Business Committee of the Calgary Chamber of Commerce.
Remote Utilities Network is a Calgary, Alberta-based, publicly traded company currently in the process of assembling the capital, management resources, and marketing rights required to establish itself as a supplier of security systems for wireless multi-vehicle surveillance of motor vehicles. In June 1999, the Company acquired, through a license agreement with Autoeye, Inc., the use of the trademarks, trade names, insignia and other indicia for the technology known as the Autoeye Multi Vehicle Surveillance System. Please visit the Company's website at www.runcorp.com for further information.
In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect Remote Utilities Network, Inc. is included in the Company’s filings with the Securities and Exchange Commission.
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