TEMIC

AcronymDefinition
TEMICTelecommunications Executive Management Institute of Canada
TEMICThe Erin Mills Investment Corporation (est. 1990; Richardson, TX)
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Maier served as Managing Director of TEMIC GmbH where he was responsible for the development and concentration of electronic activities within Daimler, including the operations of 26 semiconductor and automotive electronics plants.
Pursuant to the terms of the original subscription agreement, TEMIC agreed to purchase three secured convertible debentures, each in the principal amount of $5 million, on each of October 6, 2004, January 14, 2005 and April 15, 2005, provided that an event of default had not occurred under any debentures issued by Lorus and held by TEMIC or a material adverse change had not occurred in the business and affairs of Lorus.
Of the 2,000,000 warrants that were placed in escrow upon the closing of the first tranche, Lorus released from escrow 1,000,000 warrants to TEMIC in consideration for the closing of the second tranche of the financing and the remaining 1,000,000 warrants on completion of the third tranche.
In addition, Lorus issued 1,000,000 warrants for the purchase of common shares to TEMIC, also held in escrow.
Prior to his tenure at Infineon, Dittloff held leadership positions focused on communications, satellite and vehicle navigation and mission control systems at SICAN Group, TEMIC (Telefunken microelectronic GmbH) and STN ATLAS Elektronik GmbH.
Sqware also held senior management positions within Globespan and French semiconductor concern TEMIC.
Pursuant to the terms of the private placement, Lorus has today issued to TEMIC a convertible debenture in the principal amount of $5 million maturing October 5, 2009.