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| 8-K - LIQUIDMETAL TECHNOLOGIES INC | v198951_8k.htm |
Exhibit
99.1
News Release
FOR IMMEDIATE
RELEASE
|
CONTACT:
|
Otis
Buchanan
|
Liquidmetal
Technologies
949-635-2120
otis.buchanan@liquidmetal.com
Liquidmetal
Technologies Names New Members to Board of Directors
Rancho Santa Margarita,
California. October 14th 2010-- Liquidmetal® Technologies Inc. (OTCBB:
LQMT) today announced that it has
named two new members to the Board of Directors of the Company. Chairman Abdi
Mahamedi is welcoming Daniel Young and Ricardo Salas to board seats being
vacated by Martin Weinstein and Iraj Azarm.
“Liquidmetal
Technologies is grateful for the contributions and service of Dr. Weinstein and
Mr. Azarm during their tenure as directors. Their insights helped to
guide the Company through several complex and important matters,” commented Mr.
Mahamedi. “We also look forward to benefiting from the insights and
experience that our new directors bring to our Board at this exciting phase in
our technology’s commercialization.”
Incoming
member Daniel Young is president of Irvine Community Development Company LLC
(ICDC), an affiliate of the 140 year old Irvine Company known for the planned
development of the Irvine Ranch properties in Orange County, California. In
addition to the master planned communities, the Irvine Company is also known for
its portfolio of elite investment properties in Orange County, San Diego, West
Los Angeles and the Silicon Valley. As president of ICDC, Mr. Young
guides all facets of the Irvine Company’s community master-planning and
development process. Mr. Young also has a history of
community involvement which includes 11 years on the Santa Ana City Council,
including 8 years as mayor. He has served on the board of directors
of several regional agencies. Mr. Young is a graduate of California
State University and has a master’s degree in public administration from the
University of Southern California.
Current
Liquidmetal Technologies Executive Vice President and former company President
Ricardo Salas is also joining the Company’s Board of Directors. Mr. Salas
previously served as a board member of the Company from April 1995 to May 2003.
Prior to his tenure with Liquidmetal Technologies, Salas served as Chairman and
Chief Executive Officer of iLIANT Corporation, an information technology and
outsourcing service firm in the healthcare industry. Mr. Salas currently serves
as a director of CyberDefender Corporation (CYDE) as well as two privately held
technology companies. Mr. Salas received his degree in Economics from
Harvard College.
This
press release may contain “forward-looking statements” that involve risks and
uncertainties, including statements regarding our plans, future events,
objectives, expectations, forecasts, or assumptions. Any statement in
this press release that is not a statement of historical fact is a
forward-looking statement, and in some cases, words such as "believe,"
"estimate," "project," "expect," “intend,” “may," "anticipate," "plans,"
"seeks," and similar expressions identify forward-looking
statements. These statements involve risks and uncertainties that
could cause actual outcomes and results to differ materially from the
anticipated outcomes or result, and undue reliance should not be placed on these
statements. These risks and uncertainties may include: our
limited operating history in developing and manufacturing products from bulk
amorphous alloys; the adoption of our alloys by customers; the commercial
success of our customer’s products; our ability to identify, develop, and
commercialize new applications for our alloys; competition with suppliers of
incumbent materials; the development of new materials that render our alloys
obsolete; the ability to manage our anticipated growth; our limited direct
experience in manufacturing bulk alloy products; scaling-up our manufacturing
facilities; protecting our intellectual property; problems associated with
manufacturing and selling our alloys outside of the United States; and other
risks and uncertainties discussed in filings made with the Securities and
Exchange Commission (including risks described in subsequent reports on Form
10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal
Technologies disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.