Panacis Inc. Welcomes Jonathan Blanshay to Board of Directors

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Finance Industry veteran and Revision Military CEO brings industry leadership and business development acumen to aid company growth

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The Board of Directors of Panacis Inc., a global developer and producer of safe, reliable and scalable lithium battery systems providing flexible, clean power that turns energy storage into a competitive advantage for customers, announced today the addition of Jonathan Blanshay to its Board of Directors. Mr. Blanshay is the founder and CEO of Revision Military, a leader in protective soldier equipment, and has an extensive background in the financial services industry.

“In December of 2011, as Steve Carkner and I met with both private investors and investment groups during our financing discussions, we were fortunate to be introduced to Jonathan Blanshay and Revision Military,” said Mark Kershey, CEO, Panacis Inc. “Jonathan has built his company from a relative unknown to a world leader in mission critical soldier protection, which is the same path that Panacis intends to take with our mission critical battery systems. With his experience and guidance as a board member we can benefit from the lessons that Jonathan has already learned during the impressive growth of Revision Military. Our markets and technologies are synergistic and it is most rewarding to have Revision as a strategic customer.”

“There were three key reasons why I chose to accept a position on the Board of Panacis,” said Jonathan Blanshay, CEO, Revision Military. “First, as an investor in the company, I welcome the opportunity to have involvement and oversight in the executive decisions. Second, I believe the market positioning of the technology is unique and I certainly see many potential applications for the products. Third, I was very impressed by Panacis founder Steve Carkner’s passion, knowledge and background and now with the addition of Mark Kershey as CEO, I believe they have a very solid management team. As well, the engineering talent at Panacis is second to none. I am bringing my business and financial background to the mix to help the company grow and be successful.”

About Panacis

Panacis is a global developer and producer of safe, reliable and scalable battery systems for telecommunication, defense and renewable energy applications. Panacis uses smart energy management technology to provide flexible and clean power that turns energy storage into a viable and unique competitive advantage for our customers. Unlike conventional technologies, Panacis provides lighter, smarter and more efficient energy storage products with complete local and remote management capabilities. Our systems deliver a reduced total cost of ownership that is unsurpassed in the industry today. For more information, please visit http://www.panacis.com.

About Revision

Revision develops and delivers purpose-built protective equipment for military use worldwide. The company, which began with eyewear, has expanded to face and head protection and continues to develop its capabilities for integrated, performance-enhancing soldier systems. To that end, Revision brings the most advanced expertise, state-of-the-art facilities and finest technical minds. Clients include the U.S. Department of Defense, the Canadian Department of National Defence, the Netherlands Defence Materiel Organization, the German Federal Defence Force and the UK Ministry of Defence. Privately owned and ISO 9001:2008 certified, Revision’s operational headquarters is located in Essex Junction, Vermont, USA, with additional offices in the Netherlands and Canada. For more information, visit http://www.revisionmilitary.com, writeinfo(at)revisionmilitary(dot)com, or call +1 252-288-5805. You can also follow us on Twitter at RevisionPR.

For Media and Analyst inquiries only, please contact:

Shelley Mullins
Public Relations & Corporate Communications, Panacis Inc.
smullins(at)panacis(dot)com
613-866-8803

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Shelley Mullins
Panacis Inc.
(613) 866-8803
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