Sun-Rype confirms interim CEO & new Board of Directors
KELOWNA, BC, May 3, 2008 (Canada NewsWire via COMTEX) --
Companies: Sun-Rype Products Ltd. (SRF), Sun-Rype Products Ltd. (SRPRF)
TSX: SRF
Merv Geen, Chairman of the Board of Directors of Sun-Rype Products Ltd., announces that Eric Sorensen resigned May 2, 2008, as a director of Sun-Rype and as its President and Chief Executive Officer.
"Eric is stepping down from the position of President & CEO, but has agreed to stay on in a consulting role to assist in a successful and orderly transition," says Geen. "Eric's leadership and passion for the business has left an indelible mark. We thank him for the contributions he has made and wish him the very best in his retirement."
Dave McAnerney, currently Sun-Rype's Vice President of Operations, has been confirmed as the interim President and Chief Executive Officer of Sun-Rype, effective immediately.
Sun-Rype shareholders also elected a new seven member board of directors at the Annual General Meeting of Shareholders held May 2, 2008, in Vancouver, BC. The board consists of re-elected directors Merv Geen, Jim Eccott, Don Selman, Doug Souter and newly elected directors James A. Pattison, Glen Clark and Michael Korenberg. Says Geen, "We applaud the outstanding contributions made by retiring directors Jess Alfonso, Rob Dawson, Tom Knowlton and Eric Sorensen. They have played a vital role in the success of our organization. We also welcome the new directors and look forward to the contribution they can make to Sun-Rype's future success."
Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of 100% juices and 100% fruit snacks under the Sun-Rype brand. Sun-Rype is a publicly traded Canadian company with its common shares listed on the Toronto Stock Exchange under the symbol SRF.
Forward Looking Statements
Statements contained in this press release, which are not based on historical fact, including without limitation, statements containing the words "may", "will", "plans", "intends", "expects", "anticipates", "believes", "estimate", "continue" and similar expressions, constitute "forward looking information" within the meaning of applicable Canadian securities laws. Forward looking statements contained in this document may involve, but are not limited to, statements relating to the Company's objectives, priorities, strategies, actions, targets, expectations and outlook. Forward looking statements are necessarily based upon assumptions and predictions with respect to the future, including but not limited to the factors referred to below. As a result, forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied thereby. These risks, uncertainties and other factors include, but are not limited to, changes in the consumer packaged goods industry and external market factors, as well as the factors referred to in the Company's Annual Information Form dated February 28, 2008, and its other filings with the applicable Canadian securities regulatory authorities. In light of these uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward looking statements. Except as required by law, the Company assumes no obligation to update or revise such information to reflect later events or developments.
%SEDAR: 00001572E
SOURCE: Sun-Rype Products Ltd.
Barb Grant, Sun-Rype Products Ltd., 1165 Ethel Street, Kelowna, BC, V1Y 2W4, tel: (250) 860-7973, fax: (250) 762-3611, www.sunrype.com
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Companies: Sun-Rype Products Ltd. (SRF), Sun-Rype Products Ltd. (SRPRF)
