PUSLINCH, ON, April 3 /CNW/ - Forterra Environmental Corp. (TSX-V:
FTE-V), an emerging leader in the production and sale of premium organic
soil-enrichment products based on worm castings, today announced the
appointment of Ron Reed as Chief Financial Officer.
Mr. Reed succeeds Bruce Bent, a director of the company who also has been
serving as the company's CFO. Mr. Bent continues as a member of Forterra's
"Ron Reed has been serving as a consultant to Forterra, assisting with
our financial and strategic planning," said Don Green, Chairman and Chief
Executive Officer. "It has become evident that the current operations and
growth potential of Forterra require that we have an experienced financial
executive of Ron's caliber as a full member of our executive team."
Mr. Reed is a CGA with an MBA (Finance) from New York Institute of
Technology. He has more than 18 years of progressively senior experience in
implementing, revising, and monitoring business strategies. He also has been
involved in more than 15 acquisition and divestiture transactions. He began
his career working with electronic and agricultural companies, joining The
Thomson Corporation (now Thomson Reuters) in 1999. At Thomson, Mr. Reed began
as a controller and advanced to vice-president, finance and CFO for its Nelson
Education Ltd., business.
Forterra also announced that it has granted 250,000 options to each of
Mr. Reed and the company's President and Chief Operating Officer Rick Denyes.
The options are exercisable at $0.10 per common share. Mr. Denyes' options are
immediately vested and Mr. Reed's will vest at the 2009 year-end. If not
exercised, the options will expire on April 1, 2014.
About Forterra Environmental Corp.
Forterra manufactures and markets environmentally friendly soil
enhancers, using worm castings, which boost fertility while restoring the soil
with organic matter for sustainable, longer-term benefits, including stronger
root growth, and drought and pest resistance. Forterra products contain only
organic material. They are ideal for golf courses, sports fields, lawn care,
parks, nurseries, orchards, and vineyards. Essentially, Forterra uses red
wriggler worms to convert organic material into vermicompost or worm castings.
Worm castings contain micronutrients, which are required for healthy plant
development. Worm castings also contain microbes, which increase the rate at
which plants take up available macronutrients and micronutrients. Further
information is available on the company's website at www.forterra.com.
This news release contains forward-looking statements based on current
expectations. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from those
reflected in these forward-looking statements. Such statements are based on
current expectations, are subject to a number of uncertainties and risks, and
actual results may differ materially from those contained in such statements.
These uncertainties and risks include, but are not limited to, availability of
resources, competitive pressures, changes in market activity, the ability to
sign contracts with customers, the development of markets for worm castings,
its ability to breed and maintain a sufficiently large worm population, and
regulatory requirements. Risks and uncertainties about Forterra's business are
more fully discussed in the company's disclosure materials, including its
annual information form and MD&A, filed with the securities regulatory
authorities in Canada. Forterra assumes no obligation to update any
forward-looking statement or to update the reasons why actual results could
differ from such statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
For further information:
For further information: Investor and Media Relations: Richard W.
Wertheim, Wertheim + Company Inc., Email: email@example.com, (416)
594-1600, (416) 518-8479 (cell)