ETC Announces Resignation of Chief Financial Officer

SOUTHAMPTON, Pa., May 05, 2023 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announced that Joseph F. Verbitski, Jr. has decided to leave his position as Chief Financial Officer, effective May 12, 2023, to pursue an opportunity outside the company. ETC’s Board of Directors has initiated the process to identify qualified candidates to fill the position.

Robert L. Laurent, Jr., ETC’s Chief Executive Officer, said, “We greatly appreciate the contributions that Joseph made to ETC during his tenure here. I want to assure our investors that Joseph’s decision was made for personal reasons and in no way reflects any concerns, either on his or ETC’s part, regarding ETC’s accounting practices, financial reporting or internal controls. We wish Joseph well in his future endeavors and look forward to completing our search for a new Chief Financial Officer.”

Forward-looking Statements
This news release contains forward-looking statements, which are based on management's expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "future", "predict", "potential", "intend", or "continue", and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

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