CALGARY, June 19, 2013 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear" or the "Company") is pleased to announce that at its annual meeting of shareholders held on June 10, 2013 each of the six nominees proposed as directors and listed in its management information circular dated May 9, 2013 were elected as directors of EmberClear Corp. to serve until the next annual meeting of shareholders or until their successors are duly elected.
In an effort to ensure attention on the most important objectives for the Company are met, EmberClear will make management changes to better direct and allocate resources towards the sale of the Good Spring NCC1 and Good Spring NGCC2 power projects (the "Good Spring NGCC Projects").
Mr. Albert Lin will resign as Chief Executive Officer effective June 30, 2013 and will remain as Chairperson on the Board of Directors. Mr. David Anderson, currently the Chief Financial Officer for the Company, will assume the duties of Chief Executive Officer. Mr. Raj Suri, will remain President and assume the responsibilities of Chief Financial Officer. Mr. Suri has over 18 years of experience in finance predominantly in the energy business and earned his CPA Certificate in 1992. His experience includes international tax planning, risk management, and deal structuring.
"Our focus on the task at hand no longer requires the same level of resources. The efforts with our financial advisors and potential Good Spring NGCC 1 buyers support these adjustments and we will continue to assess the proper management structure as conditions warrant," said David Anderson.
The Company and Board would like to thank Mr. Harry Campbell for his service as a director from 2004 to 2013. Mr. Campbell exemplified integrity and responsible stewardship throughout his tenure at EmberClear.
EmberClear is a global energy development company specializing in low-emission energy projects. The Company is primarily focussed on natural gas in the United States as an input to create electricity, industrial chemicals and transportation fuels. We utilize our proven expertise in permitting, site-control, and engineering feasibility to create turnkey projects with contracted returns suitable for long-term owners and operators of long-life capital assets. EmberClear's shares are listed on the TSX Venture Exchange under the trading symbol "EMB".
For more information please visit www.emberclear.com.
Forward-Looking Statement Disclaimer
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target", "seek", "budget", "predict", "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: our ability to support the Good Spring NGCC projects with the reduced level of resources; business strategy and objectives of EmberClear; and statements with respect to adequate resources to work with financial advisors and potential NGCC 1 Buyers to complete the sale of the NGCC1 Project. With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, the following: ability to support the natural gas combined cycle ("NGCC") projects and retain management resources; the level of resources required to complete the sale of the NGCC 1 Project, stable investment conditions in North America; maximizing value of the natural gas project for shareholders; access to markets; attracting appropriate financial participants; and the timing of construction. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the following: the possibility that EmberClear will not have the financial, management or other resources to develop, construct or operate a NGCC power plant or other project; the possibility that EmberClear will not be able to establish other aspects of financing to begin construction; the possibility that EmberClear will not be able to take advantage of the market trends such as the availability and price of natural gas and electricity pricing. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: EmberClear Corp.
For further information:
David G. Anderson
+1 (403) 264-8817