AirIQ engages new investment banking firm

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AirIQ Inc., a provider of wireless location-based services, specializing in telematics and security, announced that the Special Committee of AirIQ’s Board of Directors has engaged Paradigm Capital Inc., an investment banking firm, to assist the Special Committee in conducting AirIQ’s previously announced review of strategic alternatives.

Steve Willey, President and Chief Executive Officer, reported, “The Special Committee of AirIQ’s Board of Directors completed an assessment of investment banking firms and has selected Paradigm Capital Inc. to assist in its mandate. In parallel to this process of assessing strategic alternatives, AirIQ’s management will drive the Company forward through organic growth. The goal of this two-pronged approach is to maximize shareholder value.

“We interviewed several firms before selecting Paradigm Capital Inc.,” said Randall Reynolds, Chair of the Special Committee. Paradigm has experience with AirIQ and its businesses, as well as the Telematics industry, and we have every confidence in their ability to explore the alternatives to best position AirIQ for growth in this market.”

Paradigm Capital Inc. is an independent institutional equity dealer offering full investment banking, advisory, research, sales and trading services. Paradigm Capital is focused on small to mid-cap sized companies in technology (hi-tech, biotech and industrial technology), mining and metals, industrial products, entertainment and the oil and gas sectors. Founded in 1999, Paradigm Capital is based in Toronto and Calgary.