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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
April 3, 2000
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Date of Report (date of earliest event reported)
SmarTire Systems Inc.
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(Exact Name of Registrant as Specified in its Charter)
British Columbia 0-24209 N/A
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(State or Other Jurisdiction (Commission (IRS Employer
Of Incorporation) File Number) Identification No.)
#150 - 13151 Vanier Place, Richmond, British Columbia, V6V 2J1
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(Address of principal executive offices)
(604) 276-9884
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(Registrant's telephone number,
including area code)
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ITEM 5. OTHER EVENTS
Reference is made to the press release of Registrant issued on April 3,
2000 which is incorporated herein by this reference. A copy of the press release
is attached to this Form 8-K as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99 Press release issued April 3, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SMARTIRE SYSTEMS INC.
By /s/ Robert V. Rudman
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Robert V. Rudman, CA
President and Chief Executive Officer
Dated: April 10, 2000
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EXHIBIT 99
News Release - April 3, 2000
Nasdaq: SMTR
Email: public [email protected]
Tel: 800-982-2001 / 604-276-9884
SMARTIRE RESTRUCTURES GLOBAL ENGINEERING GROUP
RICHMOND, BRITISH COLUMBIA, April 3, 2000 - SmarTire Systems Inc. (Nasdaq: SMTR)
announces a restructuring of its global engineering and product development
resources in order to accelerate programs, further advancing its position as the
market leader in wireless tire monitoring.
To streamline efficiency and respond to the escalating demand for SmarTire's
technologically advanced products in Europe, the North American engineering and
product development teams will be consolidated at its Canadian head office in
Richmond, British Columbia. Additional resources will be added to SmarTire's
European operations to support strategic alliances including Transense
Technologies plc.
The Board of Directors reports that in the restructuring, Robert Rudman will
re-assume his position as President and Chief Executive Officer of SmarTire
Systems Inc. and become President of SmarTire USA Inc. with Kevin Carlson
extending his role as Chief Financial Officer to include General Manager of
SmarTire Systems Inc. Mark Desmarais, who has held the position of President of
SmarTire Systems and SmarTire USA from the Bourne, Massachusetts office is
leaving the Company effective March 31st to pursue other interests.
SmarTire Systems Inc. is an emerging technology company that develops and
markets proprietary tire monitoring systems for the North American and European
transportation industry. Through their strategic alliance, SmarTire and TRW Inc.
are committed to providing superior tire monitoring systems for both aftermarket
and original equipment applications. Additional information is available at
www.smartire.com.
Robert V. Rudman, CA
President and Chief Executive Officer, SmarTire Systems Inc.
Except for this historical information contained herein, this news release
contains forward looking statements that involve risks and uncertainties,
including the impact of competitive products and pricing and general economic
conditions as they affect the Company's customers. Actual results and
developments may therefore differ materially from those described in this
release.
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