NEW YORK, January 13, 2014 /PRNewswire/ --
BreedIT Corp (OTC: BRDT), the exclusive worldwide distributor
through its Israeli subsidiary, BreedIT Ltd., of highly
sophisticated agro-breeding solutions for plant breeders and
researchers, today announced that on December 31, 2013, the board of directors
appointed highly respected entrepreneur and experienced board
member, Mr. Itschak Shrem, as its
new chairman. The Company's former chairman, Mr. Erez Zino, will continue to serve on the
board as a director.
Mr. Shrem is an entrepreneur with over thirty-five years of
professional business experience in the fields of investment
banking, venture capital, finance, insurance and technology, among
others, involving both public and private entities. From 1995 to
the present, Mr. Shrem has served as Managing Director of Yaad
Consulting 1995 Ltd., which provides business development,
marketing and investment banking services to a wide variety of
Israeli companies. Mr. Shrem is also a partner in the General
Partnerships of Pitango I, II and III and since October 2010, has served as an independent
director of Eden Springs Ltd, listed on the Tel-Aviv Stock Exchange
(TASE) a leading Israeli mineral water company with operations
in 16 countries throughout Europe.
Mr. Shrem has also held several positions with S R Accord Ltd.
(formerly, The Shrem Fudim Group Ltd), a TASE-listed company
engaged in investment banking in Israel which he founded in 1991, holding
positions that included serving as vice chairman from
April 1991 until December 1999, chairman of the board from
December 1999 until June 2013 and as a member of the board of
directors from June 2013 to
present. Mr. Shrem also served as the chairman of Leader
Holdings and Investments Ltd. and Polar Communications Ltd., both
TASE-listed companies engaged in investment banking and venture
capital, the latter of which specializes in the media and
telecommunications industries, from 1991 to 2010; and he
served as a director of Retalix, (NASDAQ:RTLX) from 2007
until 2012. Mr. Shrem is a director in Ormat Industries which owns
Ormat Technologies (NASDAQ:ORA), world's largest producer of
geothermal power. In 1993, Mr. Shrem founded Pitango Venture
Capital Fund, which has investments in over 120 companies,
principally in the technology industry and presently has
approximately $1.5 billion under
management.
Mr. Shrem spent over 15 years with Clal Israel Ltd, serving in
various capacities including Chief Operating Officer, responsible
for Clal's capital markets and insurance businesses until March of
1991. He holds a B.A. in Economics from Bar-Ilan University, Israel, and an M.B.A. from Tel-Aviv University, Israel.
Commenting on his reasons for joining BreedIT, Itschak Shrem stated that, "Having watched
the company and seen what their innovative IDSS technology can do
for the global agro-breeding industry, I'm convinced BreedIT has a
great opportunity for growth and investment. The capabilities
that their exclusive technology offers to plant breeders and
researchers across the globe are impressive and unparalleled. I'm
an investor in the Company and have full confidence in the
professional team led by Dr. Oded
Sagee, CEO for BreedIT Ltd. As chairman, I intend to
contribute my extensive experience in both business development as
well as finance to support the Company's growth and financial
stability moving ahead."
Erez Zino, Director of BreedIT,
stated, "On behalf of the entire BreedIT team, I would like to
welcome Mr. Shrem as the new chairman of our board. As one of the
key figures in the Israeli economy, Mr. Schrem's contributions to
the Company will be immeasurable. We are honored to work under his
leadership and look forward to working with him towards the
achievement of our identified growth objectives."
About BreedIT Corp
BreedIT Corp (OTC: BRDT), through its Israeli subsidiary,
BreedIT Ltd., is the developer of highly sophisticated
agro-breeding solutions for plant breeders and researchers.
BreedIT's proven Intelligent Decision Support System (the "IDSS
Software"), which was developed by a team consisting of among the
world's leading breeding specialists for optimizing the breeding
processes, services the plant breeding needs of corporations,
research and government institutions. BreedIT's IDSS provides
advanced solutions for generating and disseminating knowledge aimed
at assisting breeders to plan, manage and analyze their breeding
data and to perform research activities quickly and
effectively. Founded in 2010, BreedIT has offices in
New York, New York and in Rehovot,
Israel.
Forward-Looking Statements:
This press release may contain forward-looking statements,
including information about management's view of the Company's
future expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995 (the "Act"). In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements within the meaning
of the Act, and are subject to the safe harbor created by the Act.
Any statements made in this news release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of the Company, its divisions and concepts to be materially
different than those expressed or implied in such statements. These
risk factors and others are included from time to time in documents
the Company files with the Securities and Exchange Commission,
including but not limited to, its Form 10-K, Form 10-Qs and Form
8-Ks. Other unknown or unpredictable factors also could have
material adverse effects on the Company's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. The Company cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, the Company undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by the Company. In evaluating such statements,
prospective investors should review carefully various risks and
uncertainties identified in this release, as actual results may
differ materially from those indicated.* BreedIt Corp's public
filings may be viewed
at http://www.sec.gov/.
Investor Relations:
Howard Gostfrand
info@amcapventures.com
+1-305-918-7000
SOURCE BreedIT Corp