NEW YORK, July 9, 2009 (GLOBE NEWSWIRE) -- The Board of Directors of AQUAGOLD INTERNATIONAL (Pink Sheets:AQUI) announces the appointment of Domingo M. Silvas III as the company's new CEO at its recent meeting in Shanghai, China. Daniel Sauve will retain his position as Chairman of the Board, as well as head up R&D efforts going forward, but has handed over complete operating control to Mr. Silvas. The Board thanked Mr. Sauve for all his efforts to date, and emphatically endorsed its support of Mr. Silvas and the management team in place. AQUAGOLD is a global distributor of premier Canadian spring water.
Formerly EVP of Business Development, Mr. Silvas has built and led the team that officially launched AQUAGOLD's flagship product. He anticipates considerable company growth as a result of the hiring and development of this cohesive management group. "Creating and directing a team of highly talented people who each excel in their respective disciplines is something for which I have great passion. I am incredibly excited about the direction of, and prospects for AQUAGOLD, especially after what I have seen and experienced in China this week," said Mr. Silvas.
With many years of experience in creating results through hands-on management of talented executives, Mr. Silvas credits the team for the results he is already seeing, including sales contracts for AQUAGOLD and execution on the opportunities created by the positioning of the Company in China over the past two years. "The focus this team has displayed in a short period of time is outstanding," states Mr. Silvas. "Originally hired as sub-contractors, they have become an excellent management group that has incredible drive, determination and the ability to generate revenue and streamline processes. We have already improved on our contract commitments and I have complete confidence in the team in both the short- and long-term."
Mr. Silvas has a track record of aligning others to mutual purpose and toward the goal of achieving maximum results. As a Business Development Consultant, Mr. Silvas has overseen growth strategies, restructured management, and expanded operations in multiple continents for small businesses and larger publicly traded companies. He is a serial entrepreneur and US military veteran. Mr. Silvas co-founded an emerging technology company where he served as the Chief Development Officer and currently serves as a Director on its Board. He also founded and managed a company whose technology became the standard for many present-day Internet lead generation websites, building initial revenues from $1,000 per month to $10 million in its third year of operation. Mr. Silvas has also consulted to a number of brand name companies including Babies R Us, Toys R Us, Linen-n-Things, Polo, and Barnes and Noble, where his duties included responsibility for implementing business development, strategy, and corporate expansion.
"I worked closely with AQUAGOLD's Board of Directors to build this team," explained Silvas. "I'm looking forward to working with them more to ensure the success of our next phases of business. With our talented management group in place, improvement of already secured contracts, and what I believe to be extremely strong relationships and momentum in China, I believe that prospects for further development are extremely favorable. With our great presence in China, which I have now seen and appreciate more first hand, along with what we believe to be an incredible product, our future seems very bright."
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.