Toronto, Ontario, Canada, July 20, 2006 – Leitrim Group Inc. and its subsidiaries (collectively “Savers”) (TSXV: SAV), an integrated manufacturer and marketer of client acquisition and retention building programs, is pleased to announce its new board of directors and officers. The company also announced it will officially initiate a name change from
Leitrim Group Inc. to Savers Plus International Inc.
Chief Executive Officer, Mr. David Lucatch made the announcement at the company’s annual general meeting held July 14, 2006 in Toronto. Said Mr. Lucatch, “We are proud of the management team we have in place. All of our directors, and officers, have extensive experience at the senior management level and the goal of the company is to build long-term value for our shareholders. With our traditional and non-traditional product and service offerings, we are excited about the opportunity in front of us.”
Named as Directors and Officers of Savers Plus International Inc. are the following:
David Lucatch, Director & Chief Executive Officer
Mr. Lucatch has been President of Savers from 2003 to the present. Mr. Lucatch was the President of Enhanced Customer Acquisition Systems Inc. from July 2000 to December 2004 and the President and Chief Executive Officer of Valu-net International Limited from 1996 to 2000.
Mark Wiseman, Chief Financial Officer
Mr. Wiseman has been CFO of Savers since August 2005, and a Chartered Accountant since 1979. Mr. Wiseman was the founding partner of (and has been with) Wiseman & Wolanski, Chartered Accountants from 1993 to December 2004.
Greg Cumiskey, Director
Mr. Cumiskey has been the President of Direct IME, an Ontario based Independent Medical Evaluation firm, from 2003 to the present. Mr. Cumiskey has been involved with and co-founder of Ballena Technologies Inc., a US based technology firm from 1999 to 2005.
Brian Novak, Director
Mr. Novak has been the President of Tri-Star Promotions Inc. from 1985 to the present. Mr. Novak has previous public market Board experience and has been an active committee member of the Advertising Specialty Industry Association.
Fred Turack, Director
Mr. Turack is the Founder of Turack and Associates, Chartered Accountants. Mr. Turack has extensive experience in accounting, client management and financial reporting. Mr. Turack also has experience in working with early stage and publicly traded companies.
Dr. Brian Penney, Director
Since March 2000, Dr. Penney has been an independent investor in early stage technology business. Dr. Penney was Chief Executive Officer and President of e-djuster Inc. from November 2001 to July 2002 and he continues as Chairman of that company.
Girvan Patterson, Director
Mr. Patterson is currently senior marketing executive with Voxium Inc.
Mr. Patterson was formerly the Executive Vice President of Radialink Corp. From October 2001 to December 2002, he was CFO of Northland Systems Training Inc. and prior to that CEO of e-djuster Inc.
In his first act as CEO, David Lucatch announced that Leitrim Group Inc. will undergo a name change to Savers Plus International Inc., as approved at the shareholder meeting. Mr. Lucatch said, “the name change to Savers Plus International coincides with the efforts of Savers Plus and the fact that we are looking beyond our borders for business opportunities.” The ticker symbol will remain the same on the TSX Venture exchange as ‘SAV’
The Corporation also announces that it has granted stock options to purchase 2,375,000 common shares to directors and officers of the Corporation. All options will expire on July 17, 2008. The stock option grant is subject to regulatory approval. The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the grant of options.
This press release is available on the Savers Plus IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Saversplus. Alternatively, investors are asked to e-mail all questions and correspondence to SAV@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.
ABOUT SAVERS PLUS INTERNATIONAL INC.
Savers Plus International Inc., and its divisions, develop programs that build Brand, Loyalty and Revenues. Through its integrated solutions, Savers manufactures, and markets proprietary programs and services that provide its clients with effective and cost efficient solutions to increase and strengthen relationships with their customers. These include a wide range of savings and discount opportunities, soft and hard goods and loyalty based initiatives in the business to business and business to consumer sectors. Savers deploys both traditional and non traditional approaches. Savers’ conventional approaches use Custom Coupon Cards and Adkey to deliver value. Non traditional approaches include internet based initiatives like Yes! CARD Plus and hybrid programs like Affinity Data Group and Loyalty Gaming.
Savers owns and operates a fully integrated creative, print and web production facility to service its growing client base, and works with company owned and managed systems with vendors and merchants throughout North America and Europe. Savers has developed proprietary technologies for managing these programs and manufacturing its offerings.
Savers Plus International Inc. is headquartered in Richmond Hill, Ontario, Canada. Its shares trade on the TSXV (symbol: SAV).
Forward-Looking Statements
The TSX Venture Exchange has not received and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements.
Corporate Contact
Corporate Inquiries
David Lucatch CEO
905-763-3510
www.saversplus.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Saversplus
http://www.saversplus.com
SAV@agoracom.com
Institutional Investor Relations
Rosemont Advisory Inc.
David Fletcher
416-594-9361
