Inverpower Controls Continues Search for Funding

May 06, 2001 by Jeff Shepard

Inverpower Controls Ltd. (Canada) reports that it is continuing its search for additional funding. The company hired PricewaterhouseCoopers Securities to assist it in identifying financial and strategic investors. The company's Board of Directors has recently expanded PricewaterhouseCooper's mandate to include assisting in evaluating all potential strategic alternatives that may be available to the company, including a sale of the business. To this effect, discussions of varying levels have taken place with a number of potential buyers.

In addition, Inverpower announced that Dr. Gordon Slemon has stepped down from its board of directors.