Hemisphere GPS Announces New Agriculture Executive

Published in House and Home on Thursday, July 9th 2009 at 5:27 GMT, Last Modified on 2009-07-09 05:27:25 by Market Wire
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CALGARY, July 9 /CNW/ - (TSX:HEM) Hemisphere GPS, a designer and manufacturer of advanced GPS products, today announced the appointment of Kip Pendleton as Vice President and General Manager of the company's newly formed Agriculture business unit. Mr. Pendleton brings over 25 years of experience in agriculture business management with both large and small agriculture companies. Most recently, as President, Co-CEO of Agristar Global Networks, Mr. Pendleton led the company's successful growth and alliances with over 38 leading agriculture companies and organizations. Prior to that, he founded DirectAg and served as President, CEO and Chairman before it was acquired by Agristar Global Networks in 2001. He has held leadership positions with Mycogen Seed / Dow AgroSciences, Northrup King / Syngenta, and Pioneer Hi-Bred / Dupont, and has overseen nine major product launches and helped lead over 18 successful mergers and acquisitions. Kip has an MBA in Finance from the University of St. Thomas, and a Bachelor degree in Agronomy and Agriculture Economics from the University of Wisconsin. "We welcome Kip to the Hemisphere GPS team," said Steven Koles, President and CEO. "Kip's valuable experience in leading significant revenue growth and his extensive management track record in major Ag companies will enable Hemisphere GPS to further expand our retail, international and OEM approaches to market". "I am excited to join Hemisphere GPS," said Kip Pendleton. "With such a unique portfolio of leading edge, farmer friendly products, there is a significant global opportunity for us to pursue". The newly formed Agriculture business unit combines the former Air Agriculture and Ground Agriculture business units. "We're excited about creating more synergy between Air and Ground Agriculture platforms and applications, including our patented dual flow and variable rate technologies", said Steven Koles. Dean Ryerson, Chief of Agriculture is retiring from Hemisphere GPS. Chad Lind, General Manager of the Air Agriculture business will be transitioning out of his role as part of the reorganization of the Air and Ground Agriculture business units. "I would like to thank both Dean and Chad for their tremendous contributions to the growth of Hemisphere GPS", said Steven Koles. About Hemisphere GPS Hemisphere GPS designs and manufactures innovative, cost-effective GPS products for positioning, guidance, and machine control applications in agriculture, marine and other markets. The Company holds numerous patents and other intellectual property and owns leading brand names, including Outback Guidance(R) and BEELINE(R), two of the leading brands in precision GPS for ground agriculture. The Company is headquartered in Calgary, Alberta, with major product development, sales, and marketing facilities in Arizona, Kansas and Australia. Hemisphere GPS trades on the Toronto Stock Exchange under the symbol "HEM" and is a component of Standard & Poor's TSX SmallCap Index. For more information about Hemisphere GPS, please go to [ www.hemispheregps.com ]. The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Hemisphere GPS' control, including: the impact of general economic conditions, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to the announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Hemisphere GPS' actual results, performance or achievement could differ materially from those expressed in, or implied by these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceed, that Hemisphere GPS will derive there from.

For further information: Cam Olson, Chief Financial Officer, Hemisphere GPS, (403) 259-3311, [ cfo@HemisphereGPS.com ], [ www.hemispheregps.com ]; Cory Pala, Investor Relations, Hemisphere GPS, (416) 657-2400, [ InvestorRelations@hemispheregps.com ], [ www.hemispheregps.com ]

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