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Thu, June 3, 2010

Cantronic Appoints Keith Attoe to its Board of Directors


Published on 2010-06-03 05:10:19 - Market Wire
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2010) - Cantronic Systems Inc., ("Cantronic" or the "Company") (TSX VENTURE:CTS), today announced the appointment of Mr. Keith Attoe, CA, as an independent member of the Company's board of directors. Mr. Attoe will also be a member of the Audit Committee. In addition, Cantronic announced that Mr. Kim Oishi has resigned from the board of directors to rejoin the Company's board of advisors.

"We are very pleased to welcome Keith Attoe to our board of directors," said James Zahn, President and CEO of Cantronic. "We are confident that Keith's many years of professional experience that includes corporate finance, investment banking, tax planning, risk management, and public accounting, will provide valuable insight and guidance to the management at Cantronic."

A Chartered Accountant and Chartered Director, Mr. Attoe is currently President and CEO of Cognitive Finance Inc., a private derivatives trading fund that also provides corporate finance and independent director services. In addition, he is currently Vice President, Corporate Development, at Changfeng Energy Inc.; Director and Chair of the Audit Committee at Migao Corporation; and Director, Co-Chair of the Board, and Chair of the Audit Committee at China Select Capital Partners Corp. Since 2000, Mr. Attoe has managed The Attoe Foundation, which supports Arts and Mental Health organizations in Canada. Mr. Attoe will receive 250,000 stock options at an exercise price of $0.38.

"While we will miss Kim Oishi at our board meetings, we are certainly pleased to have him rejoin our board of advisors," added Mr. Zahn. "We sincerely thank Kim for his valuable contributions as a director of the company and look forward to working with him again in his role as a key advisor."

Kim Oishi joins Liu Xiao Chuan, President of China Security and Protection Products Manufacturing Association, on Cantronic's board of advisors.

About Cantronic Systems Inc.

Cantronic Systems Inc. manufactures, distributes, and provides training and services in the fields of infrared vision and video security surveillance technologies, specializing in passive and active infrared cameras, infrared illuminators, low light infrared sensitive CCD cameras and long-range night vision surveillance systems for demanding homeland security and surveillance application.

Cantronic, through its US subsidiary QWIP Technologies, Inc. ("QWIPTECH"), holds a worldwide, exclusive license from the California Institute of Technology ("Caltech") to produce and sell infrared detectors and sensors based on Caltech's Quantum Well Infrared Photodetector technology.

Cantronic, through its China subsidiaries Cantronic Security Systems (China) Co. Ltd., Beijing Advanced Videoinfo Technology Co. Ltd. ("AVINFO") and Shenzhen Huanghe Digital Technology Co. Ltd. ("Yellow River"), provides digital networked video surveillance solutions to government and corporate customers in China.

Cantronic is a Tier 1 issuer on the TSX-V exchange, trading under the symbol CTS. For further information about Cantronic and QWIPTECH, please visit our websites at [ www.cantronics.com ] and [ www.qwip.com ].

Forward-looking statements

This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Cantronic Systems Inc. and the markets in which it operates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Cantronic to be materially different from any future results, performance or achievements expressed or implied by said forward-looking statements.

Forward-looking statements include, but are not limited to: the completion of the Proposed Transaction, anticipated share capital following completion of the Proposed Transaction, expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this news release, and Cantronic Systems Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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