| Vancouver, BC,
August 14, 2007 -VendTek Systems Inc. (TSXV:
VSI) (“VendTek” or “The Company"),
a leading provider of software for prepaid service distribution,
is pleased to announce that the Company has appointed
Nurez Khimji as its Chief Financial Officer. Mr. Khimji,
a Chartered Accountant, was previously a consultant
to the Company.
Mr. Khimji adds financial leadership to the Company
with his experience with acquisitions, financings, and
strategy. Prior to joining VendTek, Mr. Khimji was CFO
of Verichip Corporation where he assisted the company
with its initial public offering for NASDAQ. Prior to
Verichip, Mr. Khimji was the CFO of eXI Wireless where
he led a number of corporate development activities
including the sale of the company to Verichip for a
100% market premium.
Doug Buchanan, Chief Executive Officer of VendTek said:
“Nurez brings a great deal of expertise and experience
to our team. We are fortunate that he has joined us
and he will play an important role as we continue to
build our company.”
“I have enjoyed working with VendTek and am proud
to join the executive team. I am excited about the future
of the company and look forward to the continued growth
in Canada and internationally,” said Mr. Khimji.
As part of the appointment, Mr. Khimji will receive
an additional 200,000 options at $0.75.
For more information please contact Samantha Haynes
at 1-800-806-4958 or 604-805-4653 or via e-mail shaynes@vendteksys.com.
About VendTek
VendTek develops and licenses automated transaction
system software and supporting technologies that improve
the efficiency of product delivery, reduce costs to
clients and offer superior safety measures. VendTek's
customers and its subsidiaries, Now Prepay Corp. (in
Canada) and VendTek Systems Technologies (in China),
are using e-Fresh™ software to build electronic,
prepaid services networks, which enable consumers to
purchase prepaid services via POS and self-serve terminals
connected to a central e-Fresh™ server. This system
creates significant value through improved efficiencies
compared to the traditional distribution paradigm. e-Fresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services by completely eliminating
physical cards and vouchers. For further information
please visit the Company’s websites www.vendteksys.com
and www.nowprepay.com.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of
this release.
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