Hifi Engineering Names Steven Koles As New President & CEO



CALGARY, ALBERTA — (May 5, 2014) — Hifi Engineering Inc., a developer of leading edge fiber optic sensing technologies primarily used to monitor gas and fluid flow in pipelines and oil and gas wells, today announced it has appointed Steven Koles as President & CEO. "We are pleased to have Steven join the HiFi team”, said Kevin Nugent, Chairman of HiFi. “His experience in scaling advanced technology companies will prove invaluable as we expand our business to the next level." Mr. Koles has over 20 years of operational and executive experience in technology companies. He has been involved as an executive and corporate director with such organizations as Steeper Energy, Qwick Media, Route 1 (TSV: ROI) and Aksys Networks. From 2006 to 2012, Mr. Koles was President and CEO of Hemisphere GPS (TSX: HEM) where he lead the company through a transformation and rebranding exercise highlighted by the divestiture of two unprofitable businesses, international expansion, two key acquisitions, two public financings, and a restructuring of manufacturing operations. Under his leadership, Hemisphere GPS achieved numerous awards including the Deloitte Green 15, Alberta Venture Fast 50, ASTech Outstanding Commercial Achievement in Science and Technology, and Branham’s Top 300 Canadian ICT companies. Mr. Koles has also served in management positions with AOL / Time Warner Canada, Group Telecom, and TELUS Corporation. "I am truly excited to be a part of a dynamic, young company at the forefront of technology innovation for the energy sector" said Mr. Koles. "It's an opportunity to truly change the industry through a next generation approach with benefits of improved operational efficiencies, increased safety, and prevented environment impacts." Kevin Nugent‘s role will move from Executive Chairman to Chairman of the Board. John Hull will now become Chief Technology Officer and Founder, and remains the largest shareholder in the company. About Hifi Hifi is a privately held Canadian company specializing in the research, development and operation of leading edge fiber optic sensing technologies primarily used to monitor gas and fluid flow in pipelines and oil and gas wells. Headquartered in Calgary, Alberta, Hifi currently has a number of commercialized products, including its MiQro™ tool used for detecting gas and fluid flow behind casing. With nearly 600 wells logged, the MiQro™ tool has been proven to assist in pinpointing casing leaks. Hifi is currently focusing its research to adapt its existing fiber optic technology to find low rate leaks in energy transportation pipelines. For more information, visit hifieng.com Contact: Kevin Nugent Chairman 403 809 8385 knugent@hifieng.com
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