LX Ventures Beefs Up Team with 3 Mobio Execs

Vancouver-based LX Ventures, a publicly traded business incubator, has made three additions to its management team. Patrick Audley was named vice president of technology; Mark Binns was named VP of marketing and Bernd Petak was named VP of operations. All three were previously executives for Mobio Technologies Inc., a developer of authentication technologies acquired in May by LX Ventures.


LX Ventures Announces Additions to Management Team

VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 28, 2013) – LX Ventures Inc. (TSX VENTURE:LXV) (“LXV” or the “Company”) is pleased to announce new additions to its management team: Patrick Audley, VP Technology; Mark Binns, VP Marketing and Bernd Petak, VP Operations.

Patrick Audley

As LXV’s VP Technology, Mr. Audley is responsible for the development and management of the technical platforms of all portfolio companies. Prior to joining the Company, Patrick was the VP Engineering of portfolio company Mobio, and brings a broad technology and business background from a string of successful startups that spans telephony, high performance computing, crowdsourcing, bioinformatics and security.

Mark Binns

In his role at LXV, Mr. Binns is responsible for adopting, creating, and sharing world class marketing practices, processes and talent across all LXV companies to ensure growth and success in their respective markets. Mr. Binns will also lead LXV’s thought leadership and speaking programs in the AdTech, FinTech and HealthTech verticals. Prior to joining LXV, Mark was CMO of portfolio company Mobio, and had two successful market exits through the sale of his marketing consultancies, Torque and Mezzanine.

Bernd Petak

As VP Operations, Mr. Petak is responsible for designing, refining and operating the processes that onboard new LXV companies and permit them to thrive in an environment that provides entrepreneurial engineers, marketers and product managers with the key resources, support and guidance that they need to succeed rapidly. Prior to joining LXV, Bernd was CFO of LX Ventures acquisition Mobio. Bernd is also a former consulting partner at Deloitte, former CEO of OA Solutions, as well as an entrepreneur, having founded and exited a computer game developer and publisher.

“Patrick, Mark and Bernd bring extensive management and entrepreneurial success to LX Ventures. Their expertise will strengthen our ability to acquire, develop and accelerate our portfolio companies,” said Mike Edwards, President and CEO of LX Ventures.

About LX Ventures

LX Ventures is a publicly traded incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to assist with distribution and scaling or we internally innovate from idea generation through to launch and exit. For further information about LX Ventures, its technology, collaborations and partnerships, please visit: www.lxventures.com.

Mike Edwards, President & CEO

CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of LX are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by LX are those risks described herein and from time to time, in the filings made by LX with Canadian securities regulators. Those filings can be found on the Internet at http://www.sedar.com.

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information
LX Ventures Inc.
Keir Reynolds
Exec. Chairman

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