Reminder

AQUAGOLD INTERNATIONAL INC. ANNOUNCES THE APPOINTMENT OF Dr PAUL A. TAILLEFER AS CHAIRMAN OF THE BOARD AND INTERIM CEO

 

New York, NY (JANUARY 29, 2010) - AQUAGOLD INTERNATIONAL (OTC/Pink Sheets: AQUI), a global distributor of premier Canadian spring water products, announces the recent appointment of Dr Paul A. Taillefer as Chairman of the Board of Directors and interim CEO.   The Company recently accepted the resignations of Daniel Sauvé as director, and of Domingo Silvas as past CEO.  The change in leadership is aligned with the new developmental stage of the company, requiring a different set of skills and leadership as a fully operating company.  Mr. Sauvé is a co-founder who was with the Company from its start-up stage: he will work with Aquagold Canada as V.P. Research & Development., and Mr. Silvas was with the Company during its building stage. 

 

Dr Taillefer is the current President and CEO of the parent company – Aquagold Canada, the Company responsible for the production of the bottled water sold to China. Under his leadership, the company was successful in completing the first orders of five containers, sending it to China on time and fulfilling the requirements of the letter of credit. The Company is responsible for the received full payment on time at the end of last year for its first large commercial order and looks to Dr. Taillefer to provide leadership in its new growth stage as a fully operational company.  

 

Dr. Taillefer has been associated with the Company as a co-founder, a major investor, and served on the Board for a six-month assignment as president of the Audit Committee two years ago.  He is intimately familiar with the markets, operations, and personnel of the Company, and will bring his considerable leadership and commercial experience to the Company as it looks forward to what it believes will be a very exciting year in China, particularly with respect to its contract to provide flagship product at the Shanghai Expo 2010.

 

Dr. Taillefer has strong leadership and management experience from a young age.  He held his first Director position at the age of 23, on the Board of the insurance company with which he was affiliated when he was the president of both his faculty and the Canadian Medical Students and Interns (CAMSI) organization.  He has served on a number of Boards of other companies since. He has also owned and successfully managed a long-term care hospital.  As a physician, Dr. Taillefer was instrumental in establishing a Department of Ophthalmology in four hospitals in Montreal and one in the Quebec North Shore.

 

In the non-healthcare private sector Dr. Taillefer has broad entrepreneurial and management experience.  He served as president of a company involved in the regulation of the airworthiness of aircraft in Africa, has owned and successfully managed a complex including a restaurant, a private club and the largest handicraft store in Canada, and built and administered the first shopping center in his town.   Dr. Taillefer has direct experience in production, which will be the core competency of Aquagold in Canada as it seeks to fill orders for the CAD$200 million in contracts from China.  Dr. Taillefer was the president and co-founder of a furniture factory making quality replicas of early French Canadian Furniture, and he co-founded and managed a factory that produced handbags in Canada.  Most recently Dr. Taillefer has served as the president and CEO of two housing projects, one of which includes a golf course.

 

Dr. Taillefer states, “I look forward to providing fresh ideas and strong direction to Aquagold, which I believe is well positioned for profitable growth this year and for the foreseeable future.  I have great confidence in our Canadian production team that delivered our first large order last year on time and within our stringent quality parameters, and in our sales and marketing team in China that secured our contracts and have done an excellent job of creatively and consistently promoting our first product there.  We are busy planning for additional product expansion, as well as for large order production from this year.”

 

About AQUAGOLD INTERNATIONAL

AQUAGOLD INTERNATIONAL is pursuing its mission to provide premier Canadian spring water products to the world. Its vision is to distribute its products globally and to become a leading distributor of some of the most recognized brands in the market. The company's mission and vision have begun in China with its first bottled water product, AQUAGOLD Premier Canadian Spring Water.

 

The information in this press release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future.  Except for historical information contained herein, all such statements included in this press release are forward looking statements and are made by AQUAGOLD INTERNATIONAL, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934.  All forward-looking statements are based upon information currently available.  Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that such expectations will prove to have been correct.  Actual results may differ materially from those indicated by these statements.  Numerous factors could cause or contribute to such differences.  The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements.  These risks and uncertainties include, but are not limited to, economic conditions, consumer spending, changes in the law or regulations, demand for products and services of the company, the competitive environment within the industry, the economic conditions in the industry and the financial strength of the Company’s customers and suppliers.  The Company does not undertake any obligation to update such forward-looking statements.  Investors are also directed to consider all other risks and uncertainties.