5BARz International Inc. Names Mr. Naresh Soni as its New Chief Technology Officer
Company Confirms Maxim Group as its Financial Advisor and Investment Banker
SEATTLE, June 12, 2013 /PRNewswire/ — 5BARz International Inc. (OTCBB: BARZ), (Boerse- Berlin: O5B), (www.5BARz.com) (“5BARz” or “the Company”) announced today that it has appointed Mr. Naresh Soni as its new Chief Technology Officer. Mr. Soni will work closely with the executive team to further develop the Company’s patented “plug-and-play” wireless technology and will help ensure the delivery of the highest quality products and services to 5BARz’s customers.
Mr. Soni brings a tremendous amount of experience within the telecommunication industry. He is an accomplished technology leader with over 20 years of experience building and managing global technology and marketing teams, products, systems, and infrastructure. He is credited with developing technology products for mobile devices and networks which have generated hundreds of millions of dollars in revenue.
Most recently, Mr. Soni served as InterDigital’s Chief Technology Officer, where he was responsible for InterDigital’s technology strategy and road map, university and industry relationships, and providing guidance on merger and acquisition opportunities, as well as, new research and development initiatives. Prior to that, he served as Chief Technology Officer for Streamezzo, a venture-funded provider of interactive rich media solutions for some of the world’s leading handset manufacturers and wireless operators. Mr. Soni’s previous experience also includes executive positions at STMicroelectronics, Nokia, AT&T BellLabs and IBM. Mr. Soni holds several patents, has authored technical papers and has given keynotes at conferences in the areas of Communications and Computing. He has earned his Master of Science in Computer Engineering from the University of Texas, Austin. He has served on the Board of the University of California San Diego (UCSD) Center for Wireless Communications, Commnexus and is currently on the Technical Advisory Council at Interdigital and Accelera Mobile Broadband.
Daniel Bland, CEO and President of 5BARz, stated, “We are so pleased to have gained a new member to our growing 5BARz family. Mr. Soni will have the opportunity to help set the course for 5BARz’s future growth and help define and expand our role within the mobile industry as we continue to provide cutting-edge wireless coverage solutions. As we are about to embark upon an important phase of growth in the Company’s history, it is very important that we have the guidance of Mr. Soni. We look forward to our progress with Mr. Soni on board as we take our growth to the next level.”
Daniel Bland has also reconfirmed that the Company has and will continue to have ongoing support from Maxim Group LLC, a leading investment banking,securities and investment management firm. Senior management of Maxim will provide strategic corporate finance and investment banking services for 5BARz.Maxim will focus on assisting the Company in its strategies for maximizing shareholder value through its full scope of investment banking services.
“We are looking forward to utilizing the expertise of Maxim Group to help 5BARz effectively penetrate the global wireless market with our unique ‘plug-and-play’ wireless solution,” said Mr. Daniel Bland, “We continue to demonstrate the value of our technology to high-growth markets around the world and believe Maxim’s position as a major investment banking firm concentrated on advising small-cap and mid-sized organizations will support our efforts to build upon our initial success.” Bland continued, “We trust Maxim will play a strong role as an advisor in executing our organizational growth strategy to further enhance shareholder value.”
Maxim representatives commented, “We are delighted to partner with 5BARz as it pursues its plan to create the next new technology for the wireless world. Our goal will be to provide assistance to the Company in the financial and value creation components of its corporate strategy through our full-service investment banking capabilities. Furthermore, we will also be supporting 5BARz in attaining its strategic initiatives and long-term objectives.
About 5BARz International:
5BARz International Inc., along with its consolidated subsidiaries, are in the process of developing the global commercialization of a patented product technology branded under the name 5BARz(TM). 5BARz(TM) is a cellular network infrastructure device for use in the small office, home or when you are mobile. 5BARz(TM) incorporates a patented technology to create a highly engineered, single-piece, plug ‘n play unit, which is not disruptive to the wireless networks,and strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz(TM) represents a key solution for cellular network operators in providing clear, high-quality signal for their subscribers with a growing need for high quality connectivity.
5BARz International Inc.’s shares are publicly traded on the OTCBB under the ticker symbol “BARZ” in the US and on the Berlin Stock Exchange (www.boerse-berlin.com) under symbol “O5B”.
About Maxim Group:
Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading as well as equity research. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, health care, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA);Municipal Securities Rule making Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.
For additional information:
Investor Relations Contact:
Consulting for Strategic Growth 1 Ltd.
Stanley Wunderlich, 800-625-2236 ext. 7770
Safe Harbor Statement
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of 5BARz International, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE 5BARz International Inc.