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OSI Geospatial Announces Resignation of Ken Kirkpatrick and Appointment of Captain Walter P. Purio as Interim President and CEO

^{Published on 2011-02-22 05:30:22 - Market Wire}
 

OTTAWA, Feb. 22 /CNW/ - OSI Geospatial Inc. (TSX: OSI) ("OSI Geospatial") announced that, effective today, Mr. Ken Kirkpatrick has resigned as the Company's President and Chief Executive Officer and as a member of the Board of Directors to pursue other opportunities. The Board of Directors has appointed Captain Walter P. Purio, who is currently a member of the Board of Directors, to serve as the interim President and Chief Executive Officer while the Board conducts a search for a new CEO.

"Captain Walter P. Purio has served on the Board of OSI Geospatial since January 1999, and we are pleased that he has agreed to take on this interim assignment," said Raymond Johnston, Chairman of the Board. "Capt. Purio has considerable knowledge of the Company and extensive experience in the maritime defence and security markets. We are confident that Walter will be successful in guiding the Company through this transition period."

Mr. Johnson noted: "Ken Kirkpatrick has been a valued member of the OSI Geospatial team, and, on behalf of the Board of Directors, I would like to thank him for his efforts over the years and wish him success in his future endeavors."

About OSI Geospatial

OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The Company is publicly traded on the Toronto Stock Exchange. For additional information please visit [ www.osigeospatial.com ].

Forward-Looking Statements

This press release contains forward-looking statements and information which reflect the current view of OSI Geospatial with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI Geospatial's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI Geospatial's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.

Copyright © 2011 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. iGEN is a registered trademark of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.