Frontier Pacific Appoints Walters and Craig to Board
Tuesday, March 6, 2001
Frontier Pacific Appoints Walters and Craig to Board
Vancouver, BC, March 6, 2001--Frontier Pacific has appointed David Walters and David Craig to its board of directors. Mr. Walters is the president and chief executive officer of Web of Care.com Inc. Web of Care is the pre-eminent on-line resource for long-term care providers in North America.
The company offers on-line resources such as training, interactivity, current articles, an extensive database of disease-related information and a robust e-procurement solution engine. Mr. Walters is responsible for raising more than $9-million (U.S.) for the company. The company is now well positioned to generate large revenues.
Web of Care is filing all the documentation to the Securities and Exchange Commission for a Nasdaq BB listing.Mr. Walters also has extensive experience in sales and marketing. Prior to joining Web of Care.com, he was vice-president of sales and marketing for Stratford Internet Technologies, Vancouver B.C., national sales director for Steiner Corporation, vice-president of sales and marketing, Act One Group of Companies, and vice-president of operations, Rosedale Services. Mr. Craig is the vice-president of operations, Web of Care.com Inc. Mr. Craig has extensive management experience.
He was involved in: the Series A and B financing; the design and construction of the Oracle 8i based business-to-consumer and business-to-business sites and e-commerce application; building the infrastructure of an on-line health care company; and reorganizing the business strategy from a B2C orientation to heavily weighted B2B focus. Mr. Craig researched and wrote the 1999 and the 2000 Web of Care.com Inc. business plan.
Working with lawyers and accountants, Mr. Craig completed the closing documents for both financings. Most of the investment originated from Silicon Valley based venture capitalists and the company was considered “pre-IPO.” Web of Care.com was managed essentially as a U.S. public company.
Prior to this, Mr. Craig was with Stratford Internet Technologies Inc. and was a member of the senior management team in charge of business and project development. He participated in all strategic planning sessions, taking part in all major management decisions, and was responsible for marketing and communications.
In addition, he worked for Microsoft Canada as Vancouver co-ordinator of family technology nights and also worked with local school boards, schools and parent committees to acquaint with and provide exposure to Microsoft’s educational software products. Frontier believes that Mr. Walters and Mr. Craig bring management, marketing and financial skills to Frontier at this transitional period of the company’s change of business from a resource-based company to a technology company.
Frontier and its partners (Frontier Sai alliance) are in the unique position of being able to deliver software solutions in a timely and efficient manner at lower costs by virtue of their connections in India. Mr. Gaurav Sri Krishna, director of Frontier, has completed the formalities for the opening of an Indian liaison office, based in Chennai. The company is awaiting the approval for the liaison office from the Reserve Bank of India. Mr. Krishna will oversee the Indian operations through this liaison office. Tom Schulz has resigned as a director of Frontier. Mr. Schulz is pursuing his interests as a programmer with another software development company.
The company has granted 1,055,000 stock options at a price of 11 cents to employees and directors and a non-brokered private placement of 3,045,455 special warrants at a price of 11 cents per special warrant for total proceeds of $335,000. Each special warrant is exercisable into one share and one warrant. Each warrant is exercisable into one share at a price of 20 cents per share up to a period of one year.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
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